DRW Securities LLC Invests $114,000 in EVgo, Inc. (NYSE:EVGO)

DRW Securities LLC acquired a new position in EVgo, Inc. (NYSE:EVGO) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 27,600 shares of the company’s stock, valued at approximately $114,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of EVGO. Legacy Capital Wealth Partners LLC purchased a new stake in EVgo in the second quarter worth $27,000. SG Americas Securities LLC purchased a new position in EVgo in the 1st quarter worth about $41,000. Point72 DIFC Ltd bought a new stake in EVgo during the 2nd quarter valued at about $45,000. International Assets Investment Management LLC purchased a new stake in EVgo in the 3rd quarter valued at about $51,000. Finally, Creative Planning grew its stake in EVgo by 32.7% in the 3rd quarter. Creative Planning now owns 13,365 shares of the company’s stock worth $55,000 after acquiring an additional 3,297 shares in the last quarter. 17.44% of the stock is owned by institutional investors.

EVgo Stock Performance

NYSE:EVGO opened at $6.47 on Thursday. The stock has a market capitalization of $1.96 billion, a P/E ratio of -15.38 and a beta of 2.38. The company’s 50-day simple moving average is $6.37 and its 200-day simple moving average is $4.28. EVgo, Inc. has a fifty-two week low of $1.65 and a fifty-two week high of $9.07.

EVgo (NYSE:EVGO) last announced its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The business had revenue of $67.50 million for the quarter, compared to the consensus estimate of $66.52 million. The firm’s quarterly revenue was up 92.3% compared to the same quarter last year. During the same period last year, the business posted ($0.09) EPS. On average, research analysts forecast that EVgo, Inc. will post -0.41 EPS for the current year.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EVGO. Capital One Financial raised shares of EVgo to a “strong-buy” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. raised EVgo from a “neutral” rating to an “overweight” rating and set a $7.00 target price for the company in a research report on Thursday, October 3rd. TD Cowen upgraded EVgo from a “hold” rating to a “buy” rating and raised their price target for the company from $5.00 to $7.00 in a research note on Thursday, October 3rd. UBS Group raised shares of EVgo from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $4.00 to $8.50 in a research note on Thursday, October 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of EVgo in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock 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.