EVgo (NASDAQ:EVGOW) Stock Price Up 4.8% – Here’s Why

EVgo, Inc. (NASDAQ:EVGOW)’s share price was up 4.8% during trading on Monday . The company traded as high as $0.30 and last traded at $0.27. Approximately 23,423 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 72,906 shares. The stock had previously closed at $0.26.

EVgo Stock Up 4.8 %

The business’s fifty day moving average price is $0.30 and its 200 day moving average price is $0.68.

Institutional Investors Weigh In On EVgo

A number of institutional investors and hedge funds have recently modified their holdings of EVGOW. Boothbay Fund Management LLC purchased a new position in shares of EVgo during the 4th quarter worth about $84,000. Aristeia Capital L.L.C. acquired a new position in shares of EVgo in the fourth quarter worth about $317,000. Finally, LMR Partners LLP raised its holdings in EVgo by 16.6% in the fourth quarter. LMR Partners LLP now owns 2,819,066 shares of the company’s stock valued at $1,506,000 after acquiring an additional 402,331 shares in the last quarter.

About EVgo

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.