EVgo (NYSE:EVGO) Shares Up 5%

EVgo, Inc. (NYSE:EVGO) shares shot up 5% during trading on Tuesday . The company traded as high as $2.52 and last traded at $2.52. 194,649 shares were traded during mid-day trading, a decline of 93% from the average session volume of 2,948,455 shares. The stock had previously closed at $2.40.

Analyst Ratings Changes

A number of brokerages have recently commented on EVGO. Citigroup lowered their target price on EVgo from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Thursday, May 9th. Evercore ISI lowered their price target on EVgo from $8.00 to $7.00 and set an “outperform” rating on the stock in a research report on Monday, May 13th. Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a research report on Wednesday, May 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $4.00 price target on shares of EVgo in a research report on Monday. Finally, Benchmark began coverage on EVgo in a research report on Wednesday, June 5th. They set a “buy” rating and a $3.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $4.00.

EVgo Stock Up 7.7 %

The firm has a market cap of $764.14 million, a PE ratio of -6.66 and a beta of 2.58. The firm has a 50-day moving average price of $2.09 and a two-hundred day moving average price of $2.42.

EVgo (NYSE:EVGO) last released its earnings results on Tuesday, May 7th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.02. The firm had revenue of $55.16 million during the quarter, compared to analysts’ expectations of $52.41 million. The business’s revenue was up 118.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.09) EPS. Research analysts forecast that EVgo, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Activity at EVgo

In related news, CEO Badar Khan purchased 125,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average price of $2.01 per share, with a total value of $251,250.00. Following the completion of the acquisition, the chief executive officer now owns 143,874 shares in the company, valued at $289,186.74. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 66.96% of the company’s stock.

Institutional Investors Weigh In On EVgo

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its holdings in shares of EVgo by 11.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 63,392 shares of the company’s stock valued at $160,000 after purchasing an additional 6,633 shares during the last quarter. Voisard Asset Management Group Inc. acquired a new stake in EVgo during the fourth quarter worth $29,000. Atria Wealth Solutions Inc. increased its stake in EVgo by 3.2% during the fourth quarter. Atria Wealth Solutions Inc. now owns 288,368 shares of the company’s stock worth $1,032,000 after acquiring an additional 8,879 shares during the last quarter. PFG Investments LLC increased its stake in EVgo by 94.2% during the first quarter. PFG Investments LLC now owns 20,976 shares of the company’s stock worth $53,000 after acquiring an additional 10,176 shares during the last quarter. Finally, Sippican Capital Advisors acquired a new stake in EVgo during the fourth quarter worth $43,000. Institutional investors and hedge funds 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.