EVgo (NYSE:EVGO) Stock Price Up 6%

EVgo, Inc. (NYSE:EVGO) was up 6% on Tuesday . The stock traded as high as $4.68 and last traded at $4.61. Approximately 1,654,414 shares changed hands during trading, a decline of 47% from the average daily volume of 3,104,958 shares. The stock had previously closed at $4.35.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on EVGO shares. Capital One Financial raised EVgo to a “strong-buy” rating in a report on Monday. Benchmark increased their price objective on EVgo from $3.00 to $5.00 and gave the company a “buy” rating in a report on Friday, July 12th. Stifel Nicolaus reduced their price objective on EVgo from $7.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. UBS Group started coverage on EVgo in a report on Monday, July 22nd. They set a “neutral” rating and a $4.00 price objective for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $5.00 price objective on shares of EVgo in a report on Monday, September 9th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, EVgo presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.63.

EVgo Price Performance

The stock has a fifty day moving average price of $3.94 and a 200 day moving average price of $2.82. The stock has a market capitalization of $1.31 billion, a P/E ratio of -11.39 and a beta of 2.59.

EVgo (NYSE:EVGO) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. The business had revenue of $66.62 million during the quarter, compared to analysts’ expectations of $59.40 million. During the same quarter last year, the business posted ($0.08) EPS. The company’s quarterly revenue was up 31.8% on a year-over-year basis. Research analysts anticipate that EVgo, Inc. will post -0.4 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Francine Sullivan sold 12,584 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $3.60, for a total value of $45,302.40. Following the sale, the insider now owns 117,327 shares in the company, valued at $422,377.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other EVgo news, President Dennis G. Kish sold 16,414 shares of EVgo stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $3.60, for a total transaction of $59,090.40. Following the completion of the sale, the president now owns 47,614 shares of the company’s stock, valued at $171,410.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Francine Sullivan sold 12,584 shares of EVgo stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $3.60, for a total value of $45,302.40. Following the sale, the insider now directly owns 117,327 shares of the company’s stock, valued at approximately $422,377.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,475 shares of company stock worth $110,189. Corporate insiders own 66.96% of the company’s stock.

Institutional Investors Weigh In On EVgo

Several hedge funds have recently added to or reduced their stakes in EVGO. KBC Group NV lifted its stake in EVgo by 88.7% during the fourth quarter. KBC Group NV now owns 227,367 shares of the company’s stock worth $814,000 after purchasing an additional 106,869 shares during the last quarter. Blueshift Asset Management LLC bought a new stake in shares of EVgo in the 4th quarter valued at about $72,000. Voisard Asset Management Group Inc. bought a new stake in shares of EVgo in the 4th quarter valued at about $29,000. Wellington Management Group LLP lifted its stake in shares of EVgo by 34.9% in the 4th quarter. Wellington Management Group LLP now owns 3,675,314 shares of the company’s stock valued at $13,158,000 after acquiring an additional 951,272 shares during the last quarter. Finally, Simplicity Wealth LLC bought a new stake in shares of EVgo in the 1st quarter valued at about $36,000. Institutional investors own 17.44% of the company’s stock.

EVgo Company Profile

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.