EVgo (NYSE:EVGO) Stock Price Down 6%

Shares of EVgo, Inc. (NYSE:EVGO) fell 6% during trading on Monday . The stock traded as low as $4.21 and last traded at $4.21. 694,872 shares were traded during mid-day trading, a decline of 78% from the average session volume of 3,104,589 shares. The stock had previously closed at $4.48.

Wall Street Analyst Weigh In

Several research firms have commented on EVGO. Cantor Fitzgerald reissued an “overweight” rating and issued a $5.00 target price on shares of EVgo in a report on Monday, September 9th. UBS Group began coverage on shares of EVgo in a report on Monday, July 22nd. They issued a “neutral” rating and a $4.00 target price on the stock. Benchmark raised their target price on shares of EVgo from $3.00 to $5.00 and gave the company a “buy” rating in a report on Friday, July 12th. Needham & Company LLC reissued a “hold” rating on shares of EVgo in a report on Thursday, August 29th. Finally, Capital One Financial raised shares of EVgo to a “strong-buy” rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $4.63.

EVgo Stock Performance

The company has a market capitalization of $1.33 billion, a P/E ratio of -11.61 and a beta of 2.59. The firm’s fifty day moving average is $3.91 and its 200-day moving average is $2.81.

EVgo (NYSE:EVGO) last posted its earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. The business had revenue of $66.62 million for the quarter, compared to the consensus estimate of $59.40 million. During the same period in the previous year, the firm earned ($0.08) earnings per share. The company’s revenue was up 31.8% compared to the same quarter last year. As a group, analysts expect that EVgo, Inc. will post -0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other EVgo news, President Dennis G. Kish sold 16,414 shares of the business’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 transaction of $59,090.40. Following the sale, the president now directly owns 47,614 shares of the company’s stock, valued at approximately $171,410.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 shares were sold at an average price of $3.60, for a total value of $45,302.40. Following the transaction, the insider now owns 117,327 shares in the company, valued at approximately $422,377.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Dennis G. Kish sold 16,414 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 $59,090.40. Following the completion of the transaction, the president now owns 47,614 shares in the company, valued at approximately $171,410.40. The disclosure for this sale can be found here. Insiders have sold 31,475 shares of company stock valued at $110,189 in the last ninety days. 66.96% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Legacy Capital Wealth Partners LLC acquired a new position in shares of EVgo in the 2nd quarter worth approximately $27,000. Voisard Asset Management Group Inc. acquired a new position in shares of EVgo in the 4th quarter worth approximately $29,000. Simplicity Wealth LLC acquired a new position in shares of EVgo in the 1st quarter worth approximately $36,000. Bleakley Financial Group LLC acquired a new position in shares of EVgo in the 1st quarter worth approximately $36,000. Finally, SG Americas Securities LLC acquired a new position in shares of EVgo in the 1st quarter worth approximately $41,000. 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.