EVgo, Inc. (NASDAQ:EVGOW) Sees Significant Decline in Short Interest

EVgo, Inc. (NASDAQ:EVGOW) was the target of a significant decrease in short interest in the month of February. As of February 15th, there was short interest totalling 16,500 shares, a decrease of 29.5% from the January 31st total of 23,400 shares. Based on an average trading volume of 84,200 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On EVgo

Hedge funds have recently modified their holdings of the stock. LMR Partners LLP raised its position in EVgo by 16.6% in the fourth quarter. LMR Partners LLP now owns 2,819,066 shares of the company’s stock worth $1,506,000 after acquiring an additional 402,331 shares in the last quarter. Aristeia Capital L.L.C. purchased a new position in shares of EVgo in the fourth quarter valued at $317,000. Boothbay Fund Management LLC purchased a new stake in EVgo during the 4th quarter worth about $84,000. Finally, Wolverine Asset Management LLC increased its position in EVgo by 37.6% during the 3rd quarter. Wolverine Asset Management LLC now owns 88,242 shares of the company’s stock worth $28,000 after purchasing an additional 24,091 shares in the last quarter.

EVgo Price Performance

Shares of NASDAQ EVGOW traded down $0.01 during mid-day trading on Wednesday, hitting $0.27. 16,088 shares of the company were exchanged, compared to its average volume of 65,959. The stock has a 50 day simple moving average of $0.39 and a 200-day simple moving average of $0.69. EVgo has a 1-year low of $0.12 and a 1-year high of $1.99.

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.