Lazard Asset Management LLC Boosts Stock Position in EVgo Inc. $EVGO

Lazard Asset Management LLC raised its holdings in EVgo Inc. (NASDAQ:EVGO) by 89.4% during the 1st quarter, HoldingsChannel.com reports. The fund owned 652,657 shares of the company’s stock after buying an additional 307,984 shares during the period. Lazard Asset Management LLC’s holdings in EVgo were worth $1,123,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Renaissance Technologies LLC lifted its position in shares of EVgo by 31.8% during the first quarter. Renaissance Technologies LLC now owns 1,192,933 shares of the company’s stock worth $2,052,000 after purchasing an additional 288,100 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of EVgo by 46.3% in the first quarter. Cetera Investment Advisers now owns 42,683 shares of the company’s stock worth $73,000 after purchasing an additional 13,499 shares during the last quarter. Abel Hall LLC grew its holdings in shares of EVgo by 78.4% in the first quarter. Abel Hall LLC now owns 50,759 shares of the company’s stock worth $87,000 after purchasing an additional 22,313 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in EVgo in the 1st quarter worth about $60,000. Finally, Inspire Investing LLC increased its stake in EVgo by 84.6% in the 1st quarter. Inspire Investing LLC now owns 298,926 shares of the company’s stock worth $514,000 after buying an additional 136,960 shares during the period. Hedge funds and other institutional investors own 17.44% of the company’s stock.

EVgo Price Performance

EVGO opened at $1.73 on Wednesday. The company has a market capitalization of $542.98 million, a price-to-earnings ratio of -4.94 and a beta of 2.82. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 5.39. EVgo Inc. has a 12-month low of $1.41 and a 12-month high of $5.18. The business’s fifty day simple moving average is $1.87 and its 200-day simple moving average is $2.18.

EVgo (NASDAQ:EVGO) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.02. The firm had revenue of $109.53 million during the quarter. During the same period in the prior year, the firm earned ($0.09) EPS. EVgo’s quarterly revenue was up 45.4% compared to the same quarter last year. On average, equities research analysts anticipate that EVgo Inc. will post -0.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on EVGO. Royal Bank Of Canada lowered their price objective on shares of EVgo from $4.50 to $3.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of EVgo in a research report on Tuesday, July 21st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of EVgo in a research note on Wednesday, July 15th. Finally, Wall Street Zen lowered EVgo from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, EVgo presently has a consensus rating of “Hold” and an average price target of $5.28.

EVgo Profile

EVgo operates one of the largest public electric vehicle (EV) fast-charging networks in the United States, delivering direct current (DC) fast charging and Level 2 charging services to passenger vehicles and commercial fleets. The company’s charging stations are strategically located in urban centers, suburban shopping areas, workplace parking facilities, and along major highway corridors, enabling convenient access for EV drivers and promoting long-distance travel.

The company offers a suite of charging solutions, including subscription plans, pay-per-use options, and fleet charging services tailored to the needs of ride-hailing, delivery, and corporate vehicle fleets.