The Vanguard Group, Inc. has recently announced that it has increased stake in EVgo Inc. (NASDAQ:EVGO) by 0.12%. After grabbing 6.28 million shares, the institutional investor is now in possession of 7802.0 shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 9.05% having worth around $37.24 million. Moreover, BlackRock Fund Advisors increased its share by 0.52 million to have a control over 4.65 million shares. And Invesco Capital Management LLC raised its holdings to 0.87 million shares by acquiring 2.81 million shares or 4.05% of the stake.
EVgo Inc. (EVGO) concluded trading on 03/15/23 at a closing price of $5.30, with 1.85 million shares of worth about $9.79 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -41.76% during that period and on Wednesday the price saw a loss of about -9.09%. Currently the company’s common shares owned by public are about 68.62M shares, out of which, 68.45M shares are available for trading.
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Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $21.00 and could fall to a lowest price of $6.00. The stock’s current price level is 50.23% above of average price target set by the analysts, while a rise to estimated low would result in gain of 11.67% for the stock. However, touching the estimated high of $21.00 would mean a gain of 74.76% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 17 times over the past 12 months. They bought 405,855 shares in 9 of the transactions. In 8 selling transactions, insiders dumped 143,214 shares.
Invesco WilderHill Clean Energy E, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in EVgo Inc. Invesco WilderHill Clean Energy E is currently holding 2.41 million shares of worth totaling $14.29 million. The company recently came selling 20608.0 shares which brought its stake up to 3.48% of the company’s outstanding shares. Vanguard Small Cap Index Fund, after buying 1.8 million shares, have now control over 2.59% of the stake in the company. It holds 9782.0 shares of worth $10.65 million.
EVgo Inc. (NASDAQ: EVGO) started trading at $5.68, below -$0.15 from concluding price of the previous day. However, the stock later moved at a day high price of 6.11, or with a loss of -9.09%. Stock saw a price change of -14.24% in past 5 days and over the past one month there was a price change of -14.65%. Year-to-date (YTD), EVGO shares are showing a performance of 18.57% which decreased to -52.21% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $3.64 but also hit the highest price of $14.23 during that period. The average intraday trading volume for EVgo Inc. shares is 2.73 million. The stock is currently trading -13.78% below its 20-day simple moving average (SMA20), while that difference is down -9.58% for SMA50 and it goes to -27.21% lower than SMA200.
The Vanguard Group, Inc. acquired 6.28 million shares of EVgo Inc. having value of about $37.24 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 7802.0 shares in the company valued at close to $41350.6, or have control over 0.12% stake in the company. EVgo Inc. (NASDAQ: EVGO) currently have 68.62M outstanding shares and institutions hold larger chunk of about 52.10% of that. Holding of mutual funds in the company is about 22.98% while other institutional holders and individual stake holders have control over 30.95% and 1.49% of the stake respectively.
The stock has a current market capitalization of $1.39B. It has posted earnings per share of -$0.27 in the same period. It has Quick Ratio of 4.30. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for EVGO, volatility over the week remained 7.45% while standing at 6.57% over the month.
Stock’s fiscal year EPS is expected to rise by 87.70% while it is estimated to increase by 6.40% in next year.
Analysts at 14 brokerage firms have issued recommendations for the EVgo Inc. (EVGO)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.60. Out of those 14 Wall Street analysts, 5 recommended a “Buy” rating, while 8 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by JP Morgan on January 26, 2023 offering a Neutral rating for the stock and assigned a target price range of between $10 and $6 to it. Coverage by Jefferies stated EVgo Inc. (EVGO) stock as a Hold in their note to investors on July 07, 2022, suggesting a price target of $5.50 for the stock. On June 08, 2022, CapitalOne Upgrade their recommendations, while on May 12, 2022, Credit Suisse Upgrade their ratings for the stock with a price target of $14. Stock get an Overweight rating from Cantor Fitzgerald on April 28, 2022.
