Soros Fund Management LLC Acquires Shares of 565,042 EVgo, Inc. (NASDAQ:EVGO)

Soros Fund Management LLC bought a new position in shares of EVgo, Inc. (NASDAQ:EVGO) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 565,042 shares of the company’s stock, valued at approximately $2,288,000.

Other large investors have also recently bought and sold shares of the company. Mariner LLC acquired a new position in EVgo during the 4th quarter valued at about $48,000. SCP Investment LP acquired a new position in EVgo in the fourth quarter valued at about $60,000. Clear Harbor Asset Management LLC bought a new stake in EVgo during the 4th quarter worth approximately $72,000. Polymer Capital Management US LLC bought a new stake in shares of EVgo during the fourth quarter worth $73,000. Finally, Raymond James Financial Inc. bought a new position in EVgo during the 4th quarter worth about $80,000. Institutional investors and hedge funds own 17.44% of the company’s stock.

EVgo Stock Up 0.4 %

Shares of EVGO stock opened at $2.83 on Wednesday. EVgo, Inc. has a twelve month low of $1.73 and a twelve month high of $9.07. The stock’s fifty day simple moving average is $2.62 and its 200 day simple moving average is $4.32. The firm has a market capitalization of $866.89 million, a P/E ratio of -6.74 and a beta of 2.28.

EVgo (NASDAQ:EVGO) last posted its quarterly earnings data on Tuesday, March 4th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.04. The firm had revenue of $67.51 million for the quarter, compared to analyst estimates of $69.49 million. As a group, equities research analysts expect that EVgo, Inc. will post -0.45 EPS for the current fiscal year.

Insider Buying and Selling

In other news, President Dennis G. Kish sold 44,184 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $3.41, for a total transaction of $150,667.44. Following the completion of the sale, the president now owns 95,986 shares in the company, valued at $327,312.26. The trade was a 31.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 58.79% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on EVGO. Evercore ISI decreased their target price on shares of EVgo from $7.00 to $4.00 and set an “outperform” rating for the company in a research report on Monday, March 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a research report on Wednesday, March 5th. UBS Group reduced their target price on shares of EVgo from $8.00 to $5.00 and set a “buy” rating for the company in a report on Monday, January 27th. Stifel Nicolaus decreased their price objective on EVgo from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $8.00 price objective on shares of EVgo in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $5.78.

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.