EVgo (NYSE:EVGO) Shares Up 5.1%

EVgo, Inc. (NYSE:EVGO)’s share price shot up 5.1% during trading on Tuesday . The stock traded as high as $3.71 and last traded at $3.70. 283,772 shares traded hands during trading, a decline of 91% from the average session volume of 3,112,633 shares. The stock had previously closed at $3.52.

Analyst Ratings Changes

Several research firms have recently commented on EVGO. Royal Bank of Canada restated an “outperform” rating and set a $4.00 price target on shares of EVgo in a research note on Friday, April 5th. Citigroup dropped their price objective on EVgo from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a report on Wednesday, May 8th. UBS Group assumed coverage on EVgo in a report on Monday. They set a “neutral” rating and a $4.00 price objective on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $4.00 price objective on shares of EVgo in a report on Monday. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.29.

EVgo Stock Up 0.5 %

The company has a market cap of $1.14 billion, a price-to-earnings ratio of -9.87 and a beta of 2.58. The company has a fifty day simple moving average of $2.55 and a two-hundred day simple moving average of $2.42.

EVgo (NYSE:EVGO) last posted 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 analyst estimates of $52.41 million. The firm’s revenue for the quarter was up 118.0% on a year-over-year basis. During the same period last year, the company posted ($0.09) EPS. On average, research analysts predict that EVgo, Inc. will post -0.38 EPS for the current year.

Insider Activity at EVgo

In related news, CEO Badar Khan acquired 125,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average price of $2.01 per share, for a total transaction of $251,250.00. Following the transaction, the chief executive officer now owns 143,874 shares in the company, valued at approximately $289,186.74. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 66.96% of the company’s stock.

Institutional Trading of EVgo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EVGO. Wellington Management Group LLP increased its position in 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 in the last quarter. Vanguard Group Inc. increased its position in EVgo by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 9,501,327 shares of the company’s stock worth $32,114,000 after purchasing an additional 421,704 shares in the last quarter. KBC Group NV increased its position in EVgo by 88.7% during the 4th quarter. KBC Group NV now owns 227,367 shares of the company’s stock worth $814,000 after purchasing an additional 106,869 shares in the last quarter. Tidal Investments LLC boosted its stake in EVgo by 32.2% in the 1st quarter. Tidal Investments LLC now owns 317,945 shares of the company’s stock worth $798,000 after buying an additional 77,354 shares during the last quarter. Finally, Bayesian Capital Management LP boosted its stake in EVgo by 183.0% in the 1st quarter. Bayesian Capital Management LP now owns 63,400 shares of the company’s stock worth $159,000 after buying an additional 41,001 shares during the last quarter. Hedge funds and other 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.