EVgo (NYSE:EVGO – Get Free Report) released its quarterly earnings results on Wednesday. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.05, MarketWatch Earnings reports. The company had revenue of $50.00 million during the quarter, compared to analyst estimates of $44.39 million. The firm’s quarterly revenue was up 83.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.06) EPS. EVgo updated its FY 2024 guidance to EPS.
EVgo Price Performance
Shares of EVGO stock traded up $0.32 during trading hours on Friday, reaching $3.10. The company had a trading volume of 2,148,275 shares, compared to its average volume of 2,904,957. EVgo has a 12 month low of $1.88 and a 12 month high of $8.16. The business has a fifty day simple moving average of $2.67 and a 200-day simple moving average of $3.04. The company has a market cap of $927.99 million, a price-to-earnings ratio of -6.43 and a beta of 2.50.
Insider Buying and Selling at EVgo
In other EVgo news, President Dennis G. Kish sold 34,717 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total value of $104,151.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Olga Shevorenkova sold 29,772 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $2.26, for a total value of $67,284.72. Following the transaction, the chief financial officer now owns 154,989 shares of the company’s stock, valued at $350,275.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Dennis G. Kish sold 34,717 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total value of $104,151.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 83,852 shares of company stock worth $229,525. Insiders own 74.52% of the company’s stock.
Institutional Inflows and Outflows
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on EVGO shares. Citigroup reduced their price target on EVgo from $5.25 to $3.50 and set a “neutral” rating for the company in a research report on Friday, December 8th. Evercore ISI dropped their price target on EVgo from $9.00 to $8.00 and set an “outperform” rating for the company in a report on Thursday. Cantor Fitzgerald reiterated a “neutral” rating and issued a $5.00 price target on shares of EVgo in a research note on Thursday. Finally, Royal Bank of Canada raised shares of EVgo from a “sector perform” rating to an “outperform” rating and cut their price target for the stock from $5.00 to $4.00 in a report on Thursday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, EVgo currently has a consensus rating of “Moderate Buy” and an average price target of $5.19.
Get Our Latest Analysis on EVGO
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.
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