Marshall Wace LLP Has $13.89 Million Stake in EVgo, Inc. (NASDAQ:EVGO)

Marshall Wace LLP boosted its position in EVgo, Inc. (NASDAQ:EVGO - Free Report) by 52.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,429,931 shares of the company's stock after purchasing an additional 1,182,431 shares during the quarter. Marshall Wace LLP owned about 1.13% of EVgo worth $13,891,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Mariner LLC purchased a new position in EVgo during the 4th quarter valued at about $48,000. Barclays PLC lifted its position in shares of EVgo by 138.0% in the 4th quarter. Barclays PLC now owns 316,538 shares of the company's stock worth $1,282,000 after acquiring an additional 183,557 shares during the period. CenterBook Partners LP acquired a new position in shares of EVgo in the 4th quarter valued at $1,244,000. Raymond James Financial Inc. bought a new position in EVgo during the fourth quarter worth about $80,000. Finally, Renaissance Technologies LLC boosted its stake in EVgo by 5,576.8% in the 4th quarter. Renaissance Technologies LLC now owns 669,861 shares of the company's stock valued at $2,713,000 after buying an additional 658,061 shares in the last quarter. Institutional investors own 17.44% of the company's stock.

EVgo Stock Down 0.8 %

Shares of EVGO stock traded down $0.02 during mid-day trading on Wednesday, hitting $2.54. 3,274,018 shares of the stock were exchanged, compared to its average volume of 4,245,619. The firm has a fifty day moving average of $2.64 and a 200 day moving average of $4.45. EVgo, Inc. has a 52-week low of $1.65 and a 52-week high of $9.07. The company has a market cap of $778.06 million, a PE ratio of -6.05 and a beta of 2.28.

EVgo (NASDAQ:EVGO - Get Free Report) last posted its earnings results on Tuesday, March 4th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.04. The business had revenue of $67.51 million for the quarter, compared to analyst estimates of $69.49 million. Equities analysts predict that EVgo, Inc. will post -0.45 EPS for the current year.

Analyst Ratings Changes

Several brokerages have commented on EVGO. UBS Group dropped their target price 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. Needham & Company LLC reiterated a "hold" rating on shares of EVgo in a research report on Wednesday, March 5th. Evercore ISI reduced their price objective on shares of EVgo from $7.00 to $4.00 and set an "outperform" rating on the stock in a research note on Monday, March 31st. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $8.00 price target on shares of EVgo in a research note on Wednesday, March 5th. Finally, Stifel Nicolaus cut their price objective on EVgo from $10.00 to $8.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, EVgo currently has an average rating of "Buy" and an average price target of $5.78.

Insider Activity at EVgo

In related news, President Dennis G. Kish sold 44,184 shares of the firm's stock in a transaction that occurred 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 trade represents a 31.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 58.79% of the company's stock.

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.