EVgo (NYSE:EVGO) Posts Earnings Results, Beats Estimates By $0.02 EPS

EVgo (NYSE:EVGO) released its quarterly earnings data on Tuesday. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02, Briefing.com reports. The company had revenue of $55.16 million for the quarter, compared to the consensus estimate of $52.41 million. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. The business’s revenue for the quarter was up 118.0% compared to the same quarter last year.

EVgo Stock Performance

NYSE:EVGO traded up $0.05 during mid-day trading on Thursday, reaching $1.80. The stock had a trading volume of 1,091,643 shares, compared to its average volume of 2,858,057. The stock has a market capitalization of $541.23 million, a P/E ratio of -3.72 and a beta of 2.53. EVgo has a one year low of $1.65 and a one year high of $6.18. The firm has a 50 day moving average price of $2.23 and a two-hundred day moving average price of $2.60.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $4.00 price target on shares of EVgo in a research report on Friday, April 5th. Cantor Fitzgerald raised shares of EVgo from a “neutral” rating to an “overweight” rating and cut their price target for the company from $5.00 to $4.00 in a report on Thursday. Evercore ISI decreased their price target on shares of EVgo from $9.00 to $8.00 and set an “outperform” rating on the stock in a report on Thursday, March 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of EVgo in a research note on Wednesday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.06.

Insider Transactions at EVgo

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

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.