EVgo, Inc. (NYSE:EVGO) President Dennis G. Kish Sells 17,379 Shares of Stock

EVgo, Inc. (NYSE:EVGO) President Dennis G. Kish sold 17,379 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $4.32, for a total value of $75,077.28. Following the sale, the president now directly owns 13,655 shares in the company, valued at $58,989.60. This trade represents a 56.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

EVgo Trading Up 3.1 %

NYSE EVGO opened at $4.32 on Friday. The stock has a market cap of $1.31 billion, a PE ratio of -10.29 and a beta of 2.24. EVgo, Inc. has a 12 month low of $1.65 and a 12 month high of $9.07. The company’s 50-day moving average price is $5.84 and its 200-day moving average price is $4.87.

EVgo (NYSE:EVGO) last issued its earnings results on Tuesday, November 12th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The firm had revenue of $67.50 million for the quarter, compared to analyst estimates of $66.52 million. The business’s revenue for the quarter was up 92.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.09) earnings per share. As a group, sell-side analysts forecast that EVgo, Inc. will post -0.41 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on EVGO. Royal Bank of Canada increased their price objective on shares of EVgo from $4.00 to $8.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. dropped their price target on EVgo from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. Stifel Nicolaus upped their price objective on EVgo from $6.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. UBS Group raised EVgo from a “neutral” rating to a “buy” rating and boosted their target price for the company from $4.00 to $8.50 in a research report on Thursday, October 10th. Finally, TD Cowen upgraded EVgo from a “hold” rating to a “buy” rating and raised their price target for the stock from $5.00 to $7.00 in a research report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $6.61.

Institutional Investors Weigh In On EVgo

Several hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in shares of EVgo by 12.7% in the second quarter. Bank of New York Mellon Corp now owns 408,687 shares of the company’s stock valued at $1,001,000 after acquiring an additional 46,157 shares in the last quarter. Legacy Capital Wealth Partners LLC purchased a new stake in shares of EVgo in the 2nd quarter worth approximately $27,000. SIR Capital Management L.P. boosted its stake in shares of EVgo by 76.9% during the second quarter. SIR Capital Management L.P. now owns 958,600 shares of the company’s stock valued at $2,349,000 after purchasing an additional 416,800 shares in the last quarter. Marshall Wace LLP increased its holdings in EVgo by 66.4% during the second quarter. Marshall Wace LLP now owns 1,633,304 shares of the company’s stock valued at $4,002,000 after buying an additional 651,475 shares during the period. Finally, Point72 DIFC Ltd bought a new position in EVgo in the second quarter worth approximately $45,000. 17.44% of the stock is currently owned by hedge funds and other institutional investors.

About EVgo

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.