UBS Group AG Acquires 475,092 Shares of EVgo Inc. $EVGO

UBS Group AG lifted its holdings in EVgo Inc. (NASDAQ:EVGO) by 83.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,043,689 shares of the company’s stock after purchasing an additional 475,092 shares during the quarter. UBS Group AG’s holdings in EVgo were worth $3,037,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Banco BTG Pactual S.A. bought a new position in shares of EVgo in the second quarter valued at about $41,000. SG Americas Securities LLC bought a new position in shares of EVgo in the fourth quarter valued at about $47,000. Ameriprise Financial Inc. bought a new position in shares of EVgo in the third quarter valued at about $49,000. Russell Investments Group Ltd. raised its holdings in shares of EVgo by 1,095.5% in the third quarter. Russell Investments Group Ltd. now owns 11,154 shares of the company’s stock valued at $53,000 after buying an additional 10,221 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new position in shares of EVgo in the third quarter valued at about $55,000. 17.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on EVGO. Cantor Fitzgerald cut their price target on EVgo from $7.00 to $6.00 and set an “overweight” rating for the company in a report on Wednesday, March 4th. Benchmark reissued a “buy” rating on shares of EVgo in a report on Monday, March 2nd. JPMorgan Chase & Co. reissued a “neutral” rating on shares of EVgo in a report on Wednesday, March 25th. Stifel Nicolaus dropped their price objective on EVgo from $7.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Finally, Wall Street Zen cut 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, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $5.28.

EVgo Stock Performance

Shares of NASDAQ:EVGO opened at $1.88 on Tuesday. The stock has a market capitalization of $590.06 million, a P/E ratio of -5.37 and a beta of 2.82. EVgo Inc. has a 1-year low of $1.64 and a 1-year high of $5.18. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 5.39. The business has a 50-day moving average price of $1.96 and a two-hundred day moving average price of $2.64.

EVgo (NASDAQ:EVGO) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.02. The firm had revenue of $109.53 million for the quarter. The company’s revenue was up 45.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.09) earnings per share. Equities analysts predict that EVgo Inc. will post -0.45 earnings per share for the current year.

About EVgo

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.