EVgo (NYSE:EVGO) Stock Price Up 4.2%

EVgo, Inc. (NYSE:EVGO) was up 4.2% during mid-day trading on Wednesday . The company traded as high as $3.04 and last traded at $2.98. Approximately 1,768,941 shares were traded during trading, a decline of 40% from the average daily volume of 2,960,906 shares. The stock had previously closed at $2.86.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on EVGO shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $4.00 price target on shares of EVgo in a research report on Friday, April 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $4.00 price target on shares of EVgo in a research note on Monday, July 1st. Needham & Company LLC restated a “hold” rating on shares of EVgo in a research report on Wednesday, May 8th. Citigroup decreased their target price on EVgo from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. Finally, Evercore ISI reduced their price objective on EVgo from $8.00 to $7.00 and set an “outperform” rating for the company in a research note on Monday, May 13th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, EVgo has a consensus rating of “Moderate Buy” and a consensus target price of $4.00.

EVgo Price Performance

The company has a 50 day moving average price of $2.17 and a 200 day moving average price of $2.39. The firm has a market cap of $930.25 million, a PE ratio of -7.97 and a beta of 2.58.

EVgo (NYSE:EVGO) last issued its earnings results on Tuesday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The business had revenue of $55.16 million for the quarter, compared to analysts’ expectations of $52.41 million. During the same period last year, the company posted ($0.09) earnings per share. The business’s quarterly revenue was up 118.0% on a year-over-year basis. On average, equities analysts anticipate that EVgo, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Badar Khan bought 125,000 shares of the stock in a transaction on Monday, May 13th. The shares were bought at an average price of $2.01 per share, with a total value of $251,250.00. Following the completion of the acquisition, the chief executive officer now owns 143,874 shares of the company’s stock, valued at $289,186.74. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 66.96% of the stock is currently owned by insiders.

Institutional Trading of EVgo

Several large investors have recently modified their holdings of the business. GSA Capital Partners LLP acquired a new stake in EVgo during the 3rd quarter valued at $774,000. Wellington Management Group LLP lifted its holdings in EVgo by 323.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,724,042 shares of the company’s stock valued at $9,207,000 after purchasing an additional 2,080,839 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 during the last quarter. International Assets Investment Management LLC acquired a new position in shares of EVgo in the fourth quarter valued at approximately $580,000. Finally, Prime Capital Investment Advisors LLC purchased a new position in shares of EVgo during the fourth quarter valued at approximately $59,000. 17.44% of the stock is currently owned by institutional investors and hedge funds.

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.