EVgo (NYSE:EVGO) Reaches New 52-Week Low at $1.88

Shares of EVgo, Inc. (NYSE:EVGO) hit a new 52-week low on Monday . The company traded as low as $1.88 and last traded at $1.90, with a volume of 2698012 shares changing hands. The stock had previously closed at $1.95.

Wall Street Analysts Forecast Growth

EVGO has been the topic of a number of recent analyst reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $5.00 price objective on shares of EVgo in a research note on Thursday, March 7th. Evercore ISI lowered their target price on EVgo from $9.00 to $8.00 and set an “outperform” rating on the stock in a report on Thursday, March 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $4.00 target price on shares of EVgo in a report on Friday, April 5th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $5.19.

EVgo Trading Down 4.3 %

The company has a fifty day moving average price of $2.44 and a two-hundred day moving average price of $2.73.

EVgo (NYSE:EVGO) last announced its quarterly earnings results on Wednesday, March 6th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.05. The company had revenue of $50.00 million during the quarter, compared to analyst estimates of $44.39 million. EVgo’s quarterly revenue was up 83.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.06) EPS. Research analysts expect that EVgo, Inc. will post -0.37 earnings per share for the current fiscal year.

Insider Activity at EVgo

In related 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 is accessible through this link. In other EVgo news, CFO Olga Shevorenkova sold 29,772 shares of EVgo 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 completion of the transaction, the chief financial officer now owns 154,989 shares in the company, valued at approximately $350,275.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Dennis G. Kish sold 34,717 shares of EVgo stock in a transaction on Wednesday, March 6th. The shares were 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. Insiders have sold a total of 86,002 shares of company stock valued at $234,693 in the last 90 days. 66.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EVgo

Institutional investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. raised its position in shares of EVgo by 34.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 21,944 shares of the company’s stock worth $282,000 after acquiring an additional 5,665 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of EVgo by 67.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 50,801 shares of the company’s stock worth $653,000 after acquiring an additional 20,505 shares during the last quarter. Citigroup Inc. raised its position in shares of EVgo by 238.6% during the first quarter. Citigroup Inc. now owns 29,441 shares of the company’s stock worth $379,000 after acquiring an additional 20,746 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in EVgo in the first quarter valued at about $32,188,000. Finally, Vanguard Group Inc. increased its holdings in EVgo by 121.6% in the first quarter. Vanguard Group Inc. now owns 5,882,535 shares of the company’s stock valued at $75,649,000 after purchasing an additional 3,228,340 shares during the last quarter. Institutional investors own 17.44% of the company’s stock.

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.