HITE Hedge Asset Management LLC Has $4.73 Million Stock Holdings in EVgo Inc. $EVGO

HITE Hedge Asset Management LLC lessened its position in EVgo Inc. (NASDAQ:EVGO) by 44.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,624,427 shares of the company’s stock after selling 1,322,364 shares during the period. HITE Hedge Asset Management LLC owned about 0.53% of EVgo worth $4,727,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fullerton Advisors LLC acquired a new stake in shares of EVgo in the 4th quarter valued at $36,000. Sage Investment Advisers LLC acquired a new stake in shares of EVgo in the 4th quarter valued at $36,000. Forefront Wealth Partners LLC acquired a new stake in shares of EVgo in the 4th quarter valued at $37,000. Banco BTG Pactual S.A. acquired a new stake in shares of EVgo in the 2nd quarter valued at $41,000. Finally, SG Americas Securities LLC acquired a new stake in shares of EVgo in the 4th quarter valued at $47,000. Institutional investors and hedge funds own 17.44% of the company’s stock.

EVgo Stock Up 1.0%

Shares of NASDAQ:EVGO opened at $2.00 on Friday. EVgo Inc. has a 12 month low of $1.64 and a 12 month high of $5.18. The company’s 50-day moving average price is $2.03 and its two-hundred day moving average price is $2.54. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 5.39. The firm has a market cap of $627.72 million, a P/E ratio of -5.71 and a beta of 2.80.

EVgo (NASDAQ:EVGO) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. The company had revenue of $109.53 million for the quarter. During the same quarter in the prior year, the company posted ($0.09) earnings per share. The firm’s revenue was up 45.4% on a year-over-year basis. As a group, research analysts forecast that EVgo Inc. will post -0.51 EPS for the current fiscal year.

Analysts Set New Price Targets

EVGO has been the topic of several recent analyst reports. Cantor Fitzgerald reduced their target price on shares of EVgo from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 4th. Benchmark restated a “buy” rating on shares of EVgo in a research note on Monday, March 2nd. JPMorgan Chase & Co. restated a “neutral” rating on shares of EVgo in a research note on Wednesday, March 25th. Wall Street Zen downgraded shares of EVgo from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 9th. Finally, Stifel Nicolaus reduced their target price on shares of EVgo from $7.50 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $5.28.

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.