EVgo, Inc. (NYSE:EVGO) Position Boosted by Creative Planning

Creative Planning grew its holdings in shares of EVgo, Inc. (NYSE:EVGO) by 32.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,365 shares of the company’s stock after purchasing an additional 3,297 shares during the period. Creative Planning’s holdings in EVgo were worth $55,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in EVGO. Point72 Asset Management L.P. acquired a new position in shares of EVgo in the second quarter worth about $1,749,000. Marshall Wace LLP boosted its holdings in shares of EVgo by 66.4% in the second quarter. Marshall Wace LLP now owns 1,633,304 shares of the company’s stock worth $4,002,000 after buying an additional 651,475 shares during the period. SIR Capital Management L.P. boosted its holdings in shares of EVgo by 76.9% in the second quarter. SIR Capital Management L.P. now owns 958,600 shares of the company’s stock worth $2,349,000 after buying an additional 416,800 shares during the period. HITE Hedge Asset Management LLC acquired a new position in shares of EVgo in the second quarter worth about $495,000. Finally, Squarepoint Ops LLC acquired a new position in shares of EVgo in the second quarter worth about $495,000. 17.44% of the stock is currently owned by institutional investors and hedge funds.

EVgo Stock Up 6.3 %

NYSE EVGO opened at $5.20 on Thursday. The stock has a market capitalization of $1.57 billion, a PE ratio of -12.38 and a beta of 2.38. The company has a 50 day moving average price of $6.08 and a two-hundred day moving average price of $4.01. EVgo, Inc. has a 12-month low of $1.65 and a 12-month high of $9.07.

EVgo (NYSE:EVGO) last posted 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 business had revenue of $67.50 million for the quarter, compared to analysts’ expectations of $66.52 million. The firm’s revenue was up 92.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.09) EPS. As a group, equities analysts anticipate that EVgo, Inc. will post -0.4 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. UBS Group upgraded shares of EVgo from a “neutral” rating to a “buy” rating and raised their target price for the stock from $4.00 to $8.50 in a report on Thursday, October 10th. Stifel Nicolaus increased their price target on shares of EVgo from $6.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Marathon Capitl raised shares of EVgo from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Needham & Company LLC reissued a “hold” rating on shares of EVgo in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised shares of 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. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $6.61.

EVgo Company Profile

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.