EVgo (NYSE:EVGO) Trading Down 5.3%

Shares of EVgo, Inc. (NYSE:EVGOGet Free Report) fell 5.3% during mid-day trading on Friday . The stock traded as low as $2.30 and last traded at $2.30. 1,588,127 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 2,828,365 shares. The stock had previously closed at $2.43.

Analyst Ratings Changes

A number of analysts have issued reports on EVGO shares. Citigroup cut their price target on shares of EVgo from $5.25 to $3.50 and set a “neutral” rating on the stock in a research note on Friday, December 8th. Royal Bank of Canada upgraded 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, March 7th. Cantor Fitzgerald restated a “neutral” rating and set a $5.00 target price on shares of EVgo in a research note on Thursday, March 7th. Finally, Evercore ISI decreased their price target on shares of EVgo from $9.00 to $8.00 and set an “outperform” rating for the company in a research note on Thursday, March 7th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $5.19.

Check Out Our Latest Report on EVgo

EVgo Stock Down 6.2 %

The stock has a market capitalization of $687.47 million, a price-to-earnings ratio of -4.85 and a beta of 2.50. The stock has a fifty day moving average of $2.53 and a 200-day moving average of $2.92.

EVgo (NYSE:EVGOGet Free Report) last posted its earnings results on Wednesday, March 6th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.05. The company had revenue of $50.00 million during the quarter, compared to analysts’ expectations of $44.39 million. During the same period last year, the business earned ($0.06) earnings per share. The company’s quarterly revenue was up 83.2% on a year-over-year basis. On average, equities analysts forecast that EVgo, Inc. will post -0.47 EPS for the current fiscal year.

Insider Activity

In related news, President Dennis G. Kish sold 34,717 shares of the firm’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 filing with the SEC, which is available at this link. In related news, CFO Olga Shevorenkova sold 19,363 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total transaction 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 $245,973. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Dennis G. Kish sold 34,717 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 transaction of $104,151.00. The disclosure for this sale can be found here. In the last three months, insiders sold 86,002 shares of company stock valued at $234,693. Insiders own 74.52% of the company’s stock.

Institutional Trading of EVgo

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of EVgo by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 9,661,554 shares of the company’s stock worth $34,588,000 after buying an additional 160,227 shares in the last quarter. Wellington Management Group LLP increased its position in EVgo by 34.9% during the fourth quarter. Wellington Management Group LLP now owns 3,675,314 shares of the company’s stock worth $13,158,000 after purchasing an additional 951,272 shares during the last quarter. Voisard Asset Management Group Inc. purchased a new stake in EVgo during the fourth quarter valued at about $29,000. Price T Rowe Associates Inc. MD raised its holdings in EVgo by 34.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 56,759 shares of the company’s stock valued at $204,000 after buying an additional 14,597 shares during the period. Finally, Barclays PLC raised its position in EVgo by 23.7% in the fourth quarter. Barclays PLC now owns 142,070 shares of the company’s stock valued at $509,000 after purchasing an additional 27,241 shares during the period. Hedge funds and other institutional investors own 15.19% of the company’s stock.

EVgo Company Profile

(Get Free Report)

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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