EVgo (NYSE:EVGO) Reaches New 1-Year High at $4.80

EVgo, Inc. (NYSE:EVGO)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $4.80 and last traded at $4.67, with a volume of 231953 shares changing hands. The stock had previously closed at $4.70.

Wall Street Analyst Weigh In

Several research firms have commented on EVGO. Capital One Financial upgraded EVgo to a “strong-buy” rating in a research report on Monday. Stifel Nicolaus lowered their price target on shares of EVgo from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a report on Thursday, August 29th. UBS Group initiated coverage on shares of EVgo in a research note on Monday, July 22nd. They set a “neutral” rating and a $4.00 target price on the stock. Finally, Benchmark lifted their price target on EVgo from $3.00 to $5.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, EVgo currently has an average rating of “Moderate Buy” and a consensus price target of $4.63.

EVgo Stock Performance

The stock has a market capitalization of $1.31 billion, a PE ratio of -11.39 and a beta of 2.59. The stock’s 50 day moving average is $3.94 and its two-hundred day moving average is $2.82.

EVgo (NYSE:EVGO) last released its earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.01. The firm 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 earned ($0.08) EPS. The business’s revenue was up 31.8% compared to the same quarter last year. Equities research analysts expect that EVgo, Inc. will post -0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Francine Sullivan sold 12,584 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $3.60, for a total value of $45,302.40. Following the completion of the sale, the insider now directly 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 through this link. In other news, insider Francine Sullivan sold 12,584 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $3.60, for a total transaction of $45,302.40. Following the transaction, the insider now directly owns 117,327 shares in the company, valued at approximately $422,377.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Dennis G. Kish sold 16,414 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $3.60, for a total value of $59,090.40. Following the completion of the sale, the president now directly owns 47,614 shares of the company’s stock, valued at approximately $171,410.40. The disclosure for this sale can be found here. Insiders have sold a total of 31,475 shares of company stock valued at $110,189 in the last 90 days. 66.96% of the stock is owned by insiders.

Hedge Funds Weigh In On EVgo

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in EVgo by 0.4% in the first quarter. Vanguard Group Inc. now owns 9,698,722 shares of the company’s stock valued at $24,344,000 after purchasing an additional 37,168 shares during the period. Wellington Management Group LLP lifted its position in shares of EVgo by 34.9% during the 4th quarter. Wellington Management Group LLP now owns 3,675,314 shares of the company’s stock worth $13,158,000 after purchasing an additional 951,272 shares during the last quarter. Voisard Asset Management Group Inc. purchased a new stake in EVgo during the 4th quarter worth about $29,000. Bleakley Financial Group LLC acquired a new position in EVgo in the first quarter valued at approximately $36,000. Finally, Tidal Investments LLC boosted its holdings in shares of EVgo by 32.2% in the 1st quarter. Tidal Investments LLC now owns 317,945 shares of the company’s stock valued at $798,000 after buying an additional 77,354 shares in the last quarter. 17.44% of the stock is currently owned by institutional investors and hedge funds.

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.