Cwm LLC Cuts Stock Holdings in EVgo Inc. $EVGO

Cwm LLC decreased its holdings in shares of EVgo Inc. (NASDAQ:EVGO) by 9.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 31,223 shares of the company’s stock after selling 3,374 shares during the period. Cwm LLC’s holdings in EVgo were worth $114,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in EVGO. HITE Hedge Asset Management LLC increased its position in EVgo by 220.0% during the 1st quarter. HITE Hedge Asset Management LLC now owns 3,348,303 shares of the company’s stock valued at $8,906,000 after purchasing an additional 2,301,886 shares during the period. Nuveen LLC purchased a new position in shares of EVgo in the 1st quarter worth approximately $3,833,000. Millennium Management LLC grew its position in shares of EVgo by 25.9% in the 1st quarter. Millennium Management LLC now owns 5,819,392 shares of the company’s stock worth $15,480,000 after buying an additional 1,195,470 shares during the last quarter. Invesco Ltd. grew its position in shares of EVgo by 39.4% in the 1st quarter. Invesco Ltd. now owns 1,826,705 shares of the company’s stock worth $4,859,000 after buying an additional 516,382 shares during the last quarter. Finally, Graham Capital Management L.P. grew its position in shares of EVgo by 455.9% in the 1st quarter. Graham Capital Management L.P. now owns 565,574 shares of the company’s stock worth $1,504,000 after buying an additional 463,826 shares during the last quarter. Hedge funds and other institutional investors own 17.44% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EVGO. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EVgo in a research report on Wednesday, October 8th. Morgan Stanley lifted their price objective on shares of EVgo from $4.00 to $4.50 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a research report on Tuesday, October 14th. Finally, UBS Group lifted their price objective on shares of EVgo from $5.00 to $5.40 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $5.82.

EVgo Trading Up 6.5%

NASDAQ:EVGO opened at $4.11 on Friday. The company has a market cap of $1.26 billion, a PE ratio of -10.02 and a beta of 2.37. EVgo Inc. has a twelve month low of $2.19 and a twelve month high of $8.42. The company’s 50 day moving average is $4.31 and its two-hundred day moving average is $3.85.

EVgo (NASDAQ:EVGO) last released its earnings results on Tuesday, August 5th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.03. The company had revenue of $98.03 million for the quarter, compared to analysts’ expectations of $86.15 million. During the same period in the prior year, the firm posted ($0.10) EPS. The firm’s revenue for the quarter was up 47.1% on a year-over-year basis. EVgo has set its FY 2025 guidance at EPS. As a group, analysts expect that EVgo Inc. will post -0.45 EPS for the current fiscal year.

About EVgo

EVgo, Inc owns and operates a direct current fast charging network for electric vehicles (EVs) in the United States. The company offers electricity directly to drivers, who access its publicly available networked chargers; original equipment manufacturer charging and related services; fleet and rideshare public charging services; and charging as a service and fleet dedicated charging services.