EVgo (NYSE:EVGO) Stock Price Up 10.9%

EVgo, Inc. (NYSE:EVGO) rose 10.9% during mid-day trading on Thursday . The company traded as high as $1.95 and last traded at $1.94. Approximately 3,805,186 shares traded hands during trading, an increase of 32% from the average daily volume of 2,887,472 shares. The stock had previously closed at $1.75.

Analyst Ratings Changes

Several equities analysts have weighed in on EVGO shares. Citigroup dropped their price objective on EVgo from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Thursday. Cantor Fitzgerald raised EVgo from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $5.00 to $4.00 in a report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and set a $4.00 price target on shares of EVgo in a report on Friday, April 5th. Needham & Company LLC restated a “hold” rating on shares of EVgo in a research report on Wednesday. Finally, Evercore ISI lowered their price objective on shares of EVgo from $9.00 to $8.00 and set an “outperform” rating on the stock in a research report on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.88.

EVgo Stock Up 13.7 %

The company has a market capitalization of $600.02 million, a PE ratio of -4.13 and a beta of 2.53. The company has a 50-day moving average price of $2.23 and a two-hundred day moving average price of $2.60.

EVgo (NYSE:EVGO) last announced its earnings results on Tuesday, May 7th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The business had revenue of $55.16 million during the quarter, compared to the consensus estimate of $52.41 million. EVgo’s revenue was up 118.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.09) earnings per share. As a group, equities analysts anticipate that EVgo, Inc. will post -0.37 EPS for the current fiscal year.

Insider Activity

In other EVgo news, CFO Olga Shevorenkova sold 19,363 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $3.00, for a total value of $58,089.00. Following the completion of the sale, the chief financial officer now directly owns 81,991 shares of the company’s stock, valued at $245,973. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, President Dennis G. Kish sold 34,717 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $3.00, for a total value of $104,151.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Olga Shevorenkova sold 19,363 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $3.00, for a total value of $58,089.00. Following the completion of the transaction, the chief financial officer now directly owns 81,991 shares in the company, valued at approximately $245,973. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,230 shares of company stock worth $167,409. 66.96% of the stock is currently owned by insiders.

Institutional Trading of EVgo

Several large investors have recently added to or reduced their stakes in EVGO. Voisard Asset Management Group Inc. purchased a new stake in shares of EVgo in the 4th quarter worth $29,000. Headlands Technologies LLC purchased a new stake in EVgo in the 3rd quarter worth approximately $32,000. Verdence Capital Advisors LLC bought a new position in shares of EVgo in the third quarter worth approximately $34,000. Sigma Planning Corp bought a new position in EVgo in the 3rd quarter worth $36,000. Finally, Sippican Capital Advisors bought a new stake in EVgo during the fourth quarter valued at about $43,000. 17.44% of the stock is currently owned by 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.