EVgo (NYSE:EVGO) Trading Up 3.5%

EVgo, Inc. (NYSE:EVGO)’s share price was up 3.5% during mid-day trading on Tuesday . The company traded as high as $3.87 and last traded at $3.86. Approximately 907,084 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 3,307,864 shares. The stock had previously closed at $3.73.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on EVGO shares. Royal Bank of Canada started coverage on shares of EVgo in a research note on Friday, September 8th. They issued a “sector perform” rating and a $5.00 price target on the stock. Citigroup dropped their price target on shares of EVgo from $6.20 to $5.10 in a research note on Tuesday, June 20th. Finally, Northland Securities dropped their price target on shares of EVgo from $9.00 to $7.00 in a research note on Wednesday, May 24th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $7.91.

EVgo Stock Performance

The stock has a 50-day simple moving average of $4.21 and a two-hundred day simple moving average of $4.87. The firm has a market cap of $1.15 billion, a PE ratio of -7.31 and a beta of 1.95.

EVgo (NYSE:EVGO) last issued its earnings results on Wednesday, August 2nd. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.14. The business had revenue of $50.55 million during the quarter, compared to analysts’ expectations of $29.46 million. During the same period last year, the firm posted ($0.51) EPS. EVgo’s quarterly revenue was up 457.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that EVgo, Inc. will post -1.01 EPS for the current fiscal year.

Insider Activity

In other news, CFO Olga Shevorenkova sold 5,838 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $5.00, for a total transaction of $29,190.00. Following the completion of the sale, the chief financial officer now owns 52,982 shares of the company’s stock, valued at approximately $264,910. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Olga Shevorenkova sold 5,838 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $5.00, for a total transaction of $29,190.00. Following the completion of the sale, the chief financial officer now owns 52,982 shares of the company’s stock, valued at approximately $264,910. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Dennis G. Kish sold 37,844 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $4.89, for a total transaction of $185,057.16. The disclosure for this sale can be found here. Insiders sold 44,282 shares of company stock valued at $217,091 in the last quarter. 73.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On EVgo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in EVgo by 4.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 28,193 shares of the company’s stock worth $363,000 after acquiring an additional 1,147 shares in the last quarter. Creative Planning increased its holdings in EVgo by 3.4% in the 2nd quarter. Creative Planning now owns 57,234 shares of the company’s stock worth $344,000 after acquiring an additional 1,904 shares in the last quarter. ETF Managers Group LLC increased its holdings in EVgo by 3.8% in the 4th quarter. ETF Managers Group LLC now owns 55,292 shares of the company’s stock worth $247,000 after acquiring an additional 2,012 shares in the last quarter. Royal Bank of Canada increased its holdings in EVgo by 1.1% in the 1st quarter. Royal Bank of Canada now owns 193,474 shares of the company’s stock worth $2,488,000 after acquiring an additional 2,121 shares in the last quarter. Finally, Credit Suisse AG increased its holdings in EVgo by 7.0% in the 2nd quarter. Credit Suisse AG now owns 32,698 shares of the company’s stock worth $197,000 after acquiring an additional 2,150 shares in the last quarter. 15.19% 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.