EVgo (NYSE:EVGO) Shares Up 6%

EVgo, Inc. (NYSE:EVGO) shares were up 6% on Tuesday . The company traded as high as $4.68 and last traded at $4.61. Approximately 1,654,414 shares traded 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

EVGO has been the topic of several recent research reports. Stifel Nicolaus lowered their target price on 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 reiterated a “hold” rating on shares of EVgo in a report on Thursday, August 29th. Benchmark raised their target price on EVgo from $3.00 to $5.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Cantor Fitzgerald reiterated an “overweight” rating and set a $5.00 price target on shares of EVgo in a report on Monday, September 9th. Finally, UBS Group assumed coverage on shares of EVgo in a report on Monday, July 22nd. They issued a “neutral” rating and a $4.00 price objective on the stock. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $4.63.

EVgo Stock Performance

The company has a 50 day moving average of $3.88 and a 200-day moving average of $2.79. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of -12.13 and a beta of 2.59.

EVgo (NYSE:EVGO) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) EPS for the quarter, beating the consensus estimate 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 period in the previous year, the business posted ($0.08) EPS. The company’s revenue for the quarter was up 31.8% compared to the same quarter last year. On average, research analysts anticipate that EVgo, Inc. will post -0.4 EPS for the current year.

Insiders Place Their Bets

In other news, President Dennis G. Kish sold 16,414 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 $59,090.40. Following the sale, the president now directly owns 47,614 shares in the company, valued at $171,410.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, President Dennis G. Kish sold 16,414 shares of the firm’s 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 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 can be accessed through this hyperlink. Also, insider Francine Sullivan sold 12,584 shares of EVgo 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 completion of the transaction, the insider now owns 117,327 shares of the company’s stock, valued at approximately $422,377.20. The disclosure for this sale can be found here. Insiders sold a total of 31,475 shares of company stock worth $110,189 over the last 90 days. Corporate insiders own 66.96% of the company’s stock.

Institutional Investors Weigh In On EVgo

Several institutional investors have recently added to or reduced their stakes in the business. Point72 DIFC Ltd acquired a new stake in EVgo during the 2nd quarter worth $45,000. Point72 Asset Management L.P. purchased a new position in shares of EVgo during the second quarter worth about $1,749,000. Squarepoint Ops LLC acquired a new stake in shares of EVgo during the second quarter worth about $495,000. HITE Hedge Asset Management LLC purchased a new stake in shares of EVgo in the 2nd quarter valued at about $495,000. Finally, Marshall Wace LLP boosted its position in shares of EVgo by 66.4% in the 2nd quarter. Marshall Wace LLP now owns 1,633,304 shares of the company’s stock valued at $4,002,000 after purchasing an additional 651,475 shares during the period. 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.