EVgo (NYSE:EVGO) Trading 4% Higher

EVgo, Inc. (NYSE:EVGO)’s share price shot up 4% during mid-day trading on Tuesday . The company traded as high as $3.91 and last traded at $3.90. 424,116 shares traded hands during trading, a decline of 87% from the average session volume of 3,313,131 shares. The stock had previously closed at $3.75.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EVGO. Northland Securities cut their target price on EVgo from $9.00 to $7.00 in a research report on Wednesday, May 24th. Citigroup decreased their price target on EVgo from $6.20 to $5.10 in a research note on Tuesday, June 20th. Royal Bank of Canada started coverage on EVgo in a research note on Friday. They set a “sector perform” rating and a $5.00 target price for the company. Bank of America decreased their target price on EVgo from $7.00 to $1.00 in a research note on Friday, May 19th. Finally, Stifel Nicolaus initiated coverage on EVgo in a report on Tuesday, May 16th. They issued a “buy” rating and a $9.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, EVgo currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.91.

EVgo Trading Up 3.5 %

The stock has a fifty day moving average price of $4.24 and a 200-day moving average price of $4.94. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -7.35 and a beta of 1.95.

EVgo (NYSE:EVGO) last released its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.14. The business had revenue of $50.55 million for the quarter, compared to analyst estimates of $29.46 million. The company’s revenue for the quarter was up 457.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.51) earnings per share. On average, equities analysts expect that EVgo, Inc. will post -1.01 EPS for the current year.

Insider Buying and Selling at EVgo

In other EVgo news, CFO Olga Shevorenkova sold 5,838 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $5.00, for a total value of $29,190.00. Following the transaction, the chief financial officer now directly owns 52,982 shares in the company, valued at approximately $264,910. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other EVgo news, COO Dennis G. Kish sold 37,844 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $4.89, for a total value of $185,057.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Olga Shevorenkova sold 5,838 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $5.00, for a total value of $29,190.00. Following the completion of the transaction, the chief financial officer now directly owns 52,982 shares of the company’s stock, valued at $264,910. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,101 shares of company stock worth $265,904. Insiders own 74.52% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of EVgo by 2.3% during the third quarter. Vanguard Group Inc. now owns 6,389,649 shares of the company’s stock worth $50,542,000 after buying an additional 142,227 shares during the period. BlackRock Inc. raised its stake in EVgo by 13.3% in the second quarter. BlackRock Inc. now owns 5,691,861 shares of the company’s stock valued at $22,767,000 after buying an additional 668,889 shares during the period. Allianz Asset Management GmbH acquired a new position in shares of EVgo in the first quarter valued at approximately $32,188,000. State Street Corp grew its position in shares of EVgo by 13.9% in the first quarter. State Street Corp now owns 2,770,437 shares of the company’s stock valued at $21,582,000 after purchasing an additional 339,147 shares during the last quarter. Finally, Pictet Asset Management SA grew its position in shares of EVgo by 5.1% in the first quarter. Pictet Asset Management SA now owns 2,657,874 shares of the company’s stock valued at $20,705,000 after purchasing an additional 128,210 shares during the last quarter. 15.19% of the stock is owned by institutional investors and hedge funds.

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.