Caitong International Asset Management Co. Ltd Buys 13,591 Shares of EVgo Inc. $EVGO

Caitong International Asset Management Co. Ltd raised its stake in shares of EVgo Inc. (NASDAQ:EVGO) by 43,841.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,622 shares of the company’s stock after acquiring an additional 13,591 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in EVgo were worth $50,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Summit Securities Group LLC bought a new stake in EVgo during the 1st quarter valued at $30,000. Ballentine Partners LLC bought a new stake in EVgo during the 1st quarter valued at $32,000. Hsbc Holdings PLC bought a new stake in EVgo during the 1st quarter valued at $38,000. Ethic Inc. bought a new stake in EVgo during the 2nd quarter valued at $38,000. Finally, Adams Wealth Management bought a new stake in EVgo during the 1st quarter valued at $46,000. Institutional investors own 17.44% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on EVGO. UBS Group increased their target price on EVgo from $5.00 to $5.40 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of EVgo in a report on Saturday. Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a report on Tuesday, October 14th. Finally, Morgan Stanley increased their price objective on EVgo from $4.00 to $4.50 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.82.

EVgo Price Performance

Shares of EVGO stock opened at $4.11 on Friday. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -10.02 and a beta of 2.37. The business has a fifty day moving average of $4.31 and a 200 day moving average of $3.80. EVgo Inc. has a 1 year low of $2.19 and a 1 year high of $9.07.

EVgo (NASDAQ:EVGO) last issued its earnings results on Tuesday, August 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.03. The firm had revenue of $98.03 million during the quarter, compared to analysts’ expectations of $86.15 million. The business’s revenue was up 47.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.10) EPS. EVgo has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that EVgo Inc. will post -0.45 earnings per share for the current year.

EVgo 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.