Tower Research Capital LLC TRC Acquires 9,932 Shares of EVgo, Inc. (NYSE:EVGO)

Posted by on Mar 6th, 2023

Tower Research Capital LLC TRC grew its stake in EVgo, Inc. (NYSE:EVGO – Get Rating) by 54.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,253 shares of the company’s stock after acquiring an additional 9,932 shares during the quarter. Tower Research Capital LLC TRC’s holdings in EVgo were worth $223,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of EVgo during the third quarter valued at $40,000. Lazard Asset Management LLC acquired a new stake in shares of EVgo during the second quarter worth about $30,000. Geneos Wealth Management Inc. purchased a new stake in EVgo in the first quarter valued at approximately $71,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in EVgo during the 2nd quarter worth approximately $47,000. Finally, Advisors Asset Management Inc. lifted its stake in EVgo by 171.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 9,188 shares of the company’s stock valued at $73,000 after acquiring an additional 5,801 shares during the period. Hedge funds and other institutional investors own 12.95% of the company’s stock.

EVgo Trading Up 6.5 %

Shares of EVgo stock opened at $6.37 on Monday. The company has a fifty day simple moving average of $5.66 and a 200-day simple moving average of $6.84. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -12.25 and a beta of 1.94. EVgo, Inc. has a 12-month low of $3.64 and a 12-month high of $14.23.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lowered shares of EVgo from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $10.00 to $6.00 in a research note on Thursday, January 26th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.19.

EVgo Company Profile

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EVgo, Inc owns and operates a direct current fast charging network 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.

Further Reading

Institutional Ownership by Quarter for EVgo (NYSE:EVGO)

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