J. Derek Lewis & Associates Inc. Acquires 473,625 Shares of EVgo Inc. $EVGO

J. Derek Lewis & Associates Inc. raised its holdings in shares of EVgo Inc. (NASDAQ:EVGO) by 1,127.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 515,625 shares of the company’s stock after acquiring an additional 473,625 shares during the quarter. J. Derek Lewis & Associates Inc. owned approximately 0.16% of EVgo worth $687,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Lazard Asset Management LLC lifted its holdings in shares of EVgo by 89.4% in the first quarter. Lazard Asset Management LLC now owns 652,657 shares of the company’s stock worth $1,123,000 after buying an additional 307,984 shares in the last quarter. State Street Corp grew its stake in EVgo by 1.3% during the second quarter. State Street Corp now owns 6,371,895 shares of the company’s stock valued at $12,170,000 after acquiring an additional 80,946 shares in the last quarter. Tidal Investments LLC grew its stake in EVgo by 2,675.5% during the second quarter. Tidal Investments LLC now owns 331,891 shares of the company’s stock valued at $634,000 after acquiring an additional 319,933 shares in the last quarter. Squarepoint Ops LLC bought a new stake in EVgo in the 2nd quarter valued at $149,000. Finally, Kintra Wealth LLC bought a new stake in EVgo in the 2nd quarter valued at $25,000. 17.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on EVGO. Roth Capital set a $2.00 price objective on shares of EVgo in a report on Monday, August 10th. Royal Bank Of Canada cut their price objective on EVgo from $3.00 to $2.50 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Stifel Nicolaus reduced their target price on EVgo from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, August 25th. Cantor Fitzgerald downgraded EVgo from an “overweight” rating to a “hold” rating and decreased their target price for the stock from $3.00 to $2.00 in a research report on Tuesday, November 3rd. Finally, Weiss Ratings raised EVgo from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, October 6th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, EVgo has an average rating of “Hold” and a consensus price target of $2.79.

EVgo Stock Performance

EVgo stock opened at $1.83 on Friday. The company’s 50-day moving average price is $1.34 and its 200-day moving average price is $1.90. EVgo Inc. has a twelve month low of $0.98 and a twelve month high of $3.68. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 5.39. The company has a market cap of $575.57 million, a PE ratio of -4.57 and a beta of 2.87.

EVgo (NASDAQ:EVGO) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.03. The business had revenue of $82.65 million during the quarter. During the same period last year, the firm posted ($0.10) earnings per share. The company’s revenue was down 15.7% compared to the same quarter last year. On average, equities research analysts forecast that EVgo Inc. will post -0.53 EPS for the current fiscal year.

EVgo Profile

EVgo, Inc (NASDAQ: EVGO) operates a public electric vehicle charging network in the United States. The company develops, owns and operates fast-charging stations designed primarily for passenger vehicles, providing drivers with access to charging at shopping centers, grocery stores, retail locations, workplaces and other convenient destinations.

EVgo’s services include on-demand charging through its network and mobile app, as well as features such as payment processing, station availability information and vehicle-to-charger connectivity.