Maven Securities LTD Invests $497,000 in EVgo, Inc. (NYSE:EVGO)

Maven Securities LTD purchased a new stake in EVgo, Inc. (NYSE:EVGO - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 120,000 shares of the company's stock, valued at approximately $497,000.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in EVgo by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 9,698,722 shares of the company's stock valued at $24,344,000 after purchasing an additional 37,168 shares during the period. Marshall Wace LLP increased its holdings in EVgo by 66.4% during the second quarter. Marshall Wace LLP now owns 1,633,304 shares of the company's stock valued at $4,002,000 after buying an additional 651,475 shares during the period. SIR Capital Management L.P. increased its holdings in EVgo by 76.9% during the second quarter. SIR Capital Management L.P. now owns 958,600 shares of the company's stock valued at $2,349,000 after buying an additional 416,800 shares during the period. Point72 Asset Management L.P. bought a new position in EVgo in the second quarter worth approximately $1,749,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in EVgo by 42.6% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 510,510 shares of the company's stock worth $1,251,000 after buying an additional 152,436 shares during the period. Hedge funds and other institutional investors own 17.44% of the company's stock.

Analysts Set New Price Targets

EVGO has been the subject of several recent research reports. JPMorgan Chase & Co. raised EVgo from a "neutral" rating to an "overweight" rating and set a $7.00 price target for the company in a research report on Thursday, October 3rd. TD Cowen upgraded shares of EVgo from a "hold" rating to a "buy" rating and boosted their target price for the stock from $5.00 to $7.00 in a report on Thursday, October 3rd. Capital One Financial upgraded shares of EVgo to a "strong-buy" rating in a report on Monday, September 16th. Stifel Nicolaus boosted their price objective on shares of EVgo from $6.00 to $10.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Finally, UBS Group upgraded shares of EVgo from a "neutral" rating to a "buy" rating and raised their target price for the company from $4.00 to $8.50 in a research note on Thursday, October 10th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, EVgo presently has an average rating of "Buy" and a consensus target price of $6.61.

Insider Activity at EVgo

In other EVgo news, CEO Badar Khan sold 166,725 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $5.14, for a total transaction of $856,966.50. Following the sale, the chief executive officer now directly owns 348,761 shares of the company's stock, valued at approximately $1,792,631.54. This trade represents a 32.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 66.96% of the stock is owned by insiders.

EVgo Trading Up 2.3 %

Shares of NYSE EVGO traded up $0.14 during midday trading on Thursday, reaching $6.28. The company had a trading volume of 4,567,576 shares, compared to its average volume of 4,630,962. EVgo, Inc. has a 1 year low of $1.65 and a 1 year high of $9.07. The business's 50-day simple moving average is $6.64 and its 200 day simple moving average is $4.44. The stock has a market cap of $1.90 billion, a P/E ratio of -15.74 and a beta of 2.24.

EVgo (NYSE:EVGO - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.01). The company had revenue of $67.50 million during the quarter, compared to the consensus estimate of $66.52 million. EVgo's revenue was up 92.3% compared to the same quarter last year. During the same period last year, the business earned ($0.09) EPS. Analysts predict that EVgo, Inc. will post -0.41 earnings per share for the current 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.