EVgo (NYSE:EVGO) Trading 6% Higher

EVgo, Inc. (NYSE:EVGO) rose 6% during trading on Tuesday . The company traded as high as $4.68 and last traded at $4.61. Approximately 1,654,414 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 3,104,958 shares. The stock had previously closed at $4.35.

Analyst Ratings Changes

EVGO has been the topic of a number of analyst reports. Capital One Financial upgraded EVgo to a “strong-buy” rating in a research report on Monday. Stifel Nicolaus reduced their price target on EVgo from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 price target on shares of EVgo in a research report on Monday, September 9th. UBS Group initiated coverage on EVgo in a research report on Monday, July 22nd. They issued a “neutral” rating and a $4.00 price target on the stock. Finally, Benchmark upped their price target on EVgo from $3.00 to $5.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, EVgo presently has an average rating of “Moderate Buy” and a consensus price target of $4.63.

EVgo Trading Down 1.8 %

The firm has a 50-day moving average of $3.94 and a 200 day moving average of $2.82. The company has a market cap of $1.31 billion, a P/E ratio of -11.39 and a beta of 2.59.

EVgo (NYSE:EVGO) last posted its quarterly 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 firm had revenue of $66.62 million for the quarter, compared to analyst estimates of $59.40 million. During the same period last year, the company posted ($0.08) earnings per share. The firm’s quarterly revenue was up 31.8% compared to the same quarter last year. On average, equities analysts predict that EVgo, Inc. will post -0.4 EPS for the current year.

Insider Buying and Selling

In related news, President Dennis G. Kish sold 16,414 shares of the company’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 transaction, 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 document filed with the SEC, which can be accessed through this link. In other news, President Dennis G. Kish sold 16,414 shares of the stock in a transaction that occurred 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 completion of the sale, the president now directly owns 47,614 shares of the company’s stock, valued at $171,410.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Francine Sullivan sold 12,584 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was 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 of the company’s stock, valued at $422,377.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,475 shares of company stock valued at $110,189. 66.96% of the stock is owned by company insiders.

Institutional Trading of EVgo

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of EVgo by 0.4% during the first quarter. Vanguard Group Inc. now owns 9,698,722 shares of the company’s stock valued at $24,344,000 after acquiring an additional 37,168 shares during the last quarter. Wellington Management Group LLP increased its position in shares of EVgo by 34.9% during the fourth quarter. Wellington Management Group LLP now owns 3,675,314 shares of the company’s stock valued at $13,158,000 after acquiring an additional 951,272 shares during the last quarter. Voisard Asset Management Group Inc. purchased a new stake in shares of EVgo during the fourth quarter valued at approximately $29,000. Bleakley Financial Group LLC purchased a new stake in shares of EVgo during the first quarter valued at approximately $36,000. Finally, Tidal Investments LLC increased its position in shares of EVgo by 32.2% during the first quarter. Tidal Investments LLC now owns 317,945 shares of the company’s stock valued at $798,000 after acquiring an additional 77,354 shares during the last quarter. 17.44% of the stock is owned by hedge funds and other institutional investors.

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.