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

EVgo, Inc. (NASDAQ:EVGOW) was the target of a large drop in short interest in February. As of February 15th, there was short interest totalling 16,500 shares, a drop 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 currently 0.2 days.

EVgo Stock Down 6.5 %

NASDAQ:EVGOW traded down $0.02 during trading hours on Monday, hitting $0.29. 40,678 shares of the company were exchanged, compared to its average volume of 66,911. EVgo has a 52-week low of $0.12 and a 52-week high of $1.99. The company’s 50 day moving average price is $0.40 and its 200-day moving average price is $0.69.

Hedge Funds Weigh In On EVgo

A number of institutional investors have recently bought and sold shares of the business. LMR Partners LLP grew its holdings in EVgo by 16.6% during 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 during the period. Aristeia Capital L.L.C. purchased a new stake in EVgo in the 4th quarter worth approximately $317,000. Boothbay Fund Management LLC acquired a new stake in shares of EVgo during the 4th quarter worth approximately $84,000. Finally, Wolverine Asset Management LLC increased its holdings in shares of EVgo by 37.6% during the 3rd quarter. Wolverine Asset Management LLC now owns 88,242 shares of the company’s stock valued at $28,000 after purchasing an additional 24,091 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.