EVgo, Inc. (NYSE:EVGO) Shares Bought by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. boosted its stake in shares of EVgo, Inc. (NYSE:EVGO – Get Rating) by 41.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 45,632 shares of the company’s stock after purchasing an additional 13,476 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in EVgo were worth $361,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. grew its position in shares of EVgo by 34.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 21,944 shares of the company’s stock valued at $282,000 after purchasing an additional 5,665 shares during the last quarter. Citigroup Inc. lifted its stake in shares of EVgo by 238.6% during the first quarter. Citigroup Inc. now owns 29,441 shares of the company’s stock valued at $379,000 after buying an additional 20,746 shares during the period. Allianz Asset Management GmbH purchased a new position in EVgo during the first quarter worth approximately $32,188,000. Vanguard Group Inc. raised its stake in EVgo by 121.6% during the first quarter. Vanguard Group Inc. now owns 5,882,535 shares of the company’s stock worth $75,649,000 after purchasing an additional 3,228,340 shares during the period. Finally, Pearl River Capital LLC purchased a new position in EVgo during the first quarter worth approximately $323,000. 12.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EVGO has been the topic of a number of recent analyst reports. Credit Suisse Group cut their price target on shares of EVgo from $15.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, November 4th. Cowen cut their price target on shares of EVgo from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 25th. JPMorgan Chase & Co. cut their price target on shares of EVgo from $13.00 to $10.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 18th. Finally, Northland Securities began coverage on shares of EVgo in a research note on Friday, October 14th. They issued a “market perform” rating on the stock. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, EVgo presently has a consensus rating of “Moderate Buy” and an average target price of $11.69.

EVgo Trading Up 9.7 %

EVGO opened at $5.75 on Friday. The company has a fifty day simple moving average of $5.57 and a 200 day simple moving average of $7.35. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -11.06 and a beta of 1.55. EVgo, Inc. has a twelve month low of $3.64 and a twelve month high of $14.23.

EVgo (NYSE:EVGO – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03). The company had revenue of $10.51 million for the quarter, compared to analyst estimates of $13.55 million. On average, analysts forecast that EVgo, Inc. will post -0.52 earnings per share for the current fiscal year.

EVgo Profile

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EVgo, Inc owns and operates a direct current fast charging network 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.