CenterBook Partners LP Acquires Shares of 307,134 EVgo, Inc. (NASDAQ:EVGO)

CenterBook Partners LP purchased a new position in EVgo, Inc. (NASDAQ:EVGO - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 307,134 shares of the company's stock, valued at approximately $1,244,000. CenterBook Partners LP owned about 0.10% of EVgo at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its stake in EVgo by 25.3% during the third quarter. State Street Corp now owns 4,192,828 shares of the company's stock valued at $17,358,000 after acquiring an additional 847,777 shares during the period. Vanguard Group Inc. lifted its stake in EVgo by 20.1% during the fourth quarter. Vanguard Group Inc. now owns 12,200,949 shares of the company's stock worth $49,414,000 after purchasing an additional 2,043,449 shares during the period. Quantbot Technologies LP acquired a new stake in EVgo during the 4th quarter valued at $523,000. Geode Capital Management LLC boosted its stake in EVgo by 3.9% in the third quarter. Geode Capital Management LLC now owns 2,419,863 shares of the company's stock worth $10,020,000 after purchasing an additional 90,887 shares in the last quarter. Finally, Crescent Park Management L.P. acquired a new stake in shares of EVgo in the fourth quarter valued at $377,000. Institutional investors and hedge funds own 17.44% of the company's stock.

EVgo Price Performance

NASDAQ EVGO traded up $0.01 during trading on Wednesday, hitting $2.56. The company's stock had a trading volume of 831,725 shares, compared to its average volume of 4,335,335. The business's 50 day simple moving average is $2.69 and its 200-day simple moving average is $4.55. EVgo, Inc. has a fifty-two week low of $1.65 and a fifty-two week high of $9.07. The company has a market cap of $784.19 million, a PE ratio of -6.10 and a beta of 2.28.

EVgo (NASDAQ:EVGO - Get Free Report) last issued its quarterly earnings results on Tuesday, March 4th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.04. The firm had revenue of $67.51 million for the quarter, compared to analysts' expectations of $69.49 million. Analysts expect that EVgo, Inc. will post -0.45 EPS for the current fiscal year.

Insider Activity at EVgo

In other news, President Dennis G. Kish sold 44,184 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $3.41, for a total value of $150,667.44. Following the sale, the president now directly owns 95,986 shares in the company, valued at $327,312.26. This represents a 31.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 66.96% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on EVGO shares. UBS Group dropped their price objective on shares of EVgo from $8.00 to $5.00 and set a "buy" rating for the company in a research report on Monday, January 27th. Cantor Fitzgerald reissued an "overweight" rating and set a $8.00 target price on shares of EVgo in a research note on Wednesday, March 5th. Needham & Company LLC reaffirmed a "hold" rating on shares of EVgo in a report on Wednesday, March 5th. Evercore ISI dropped their price objective on shares of EVgo from $7.00 to $4.00 and set an "outperform" rating for the company in a research note on Monday, March 31st. Finally, Stifel Nicolaus reduced their price objective on shares of EVgo from $10.00 to $8.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, EVgo presently has an average rating of "Buy" and a consensus price target of $5.78.

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.