EVgo (NYSE:EVGO) Hits New 52-Week Low at $1.67

EVgo, Inc. (NYSE:EVGO)’s share price reached a new 52-week low on Monday . The stock traded as low as $1.67 and last traded at $1.69, with a volume of 920019 shares trading hands. The stock had previously closed at $1.73.

Analyst Upgrades and Downgrades

EVGO has been the subject of several analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $4.00 price target on shares of EVgo in a research note on Friday, April 5th. Evercore ISI dropped 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. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $5.00 price objective on shares of EVgo in a report on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $5.19.

EVgo Trading Up 0.6 %

The firm’s fifty day moving average price is $2.39 and its 200 day moving average price is $2.68. The stock has a market capitalization of $527.66 million, a price-to-earnings ratio of -3.72 and a beta of 2.45.

EVgo (NYSE:EVGO) last issued its quarterly earnings data on Wednesday, March 6th. The company reported ($0.12) EPS for the quarter, topping 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. The business’s revenue was up 83.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.06) earnings per share. On average, analysts forecast that EVgo, Inc. will post -0.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other EVgo news, President Dennis G. Kish sold 34,717 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $3.00, for a total transaction of $104,151.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Olga Shevorenkova sold 19,363 shares of the business’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 $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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Dennis G. Kish sold 34,717 shares of the company’s stock in a transaction that occurred 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 worth $234,693 in the last ninety days. 66.96% of the stock is owned by corporate insiders.

Institutional Trading of EVgo

Several institutional investors and hedge funds have recently added to or reduced their stakes in EVGO. PFG Investments LLC increased its position in EVgo by 94.2% during the 1st quarter. PFG Investments LLC now owns 20,976 shares of the company’s stock worth $53,000 after purchasing an additional 10,176 shares during the period. Wellington Management Group LLP increased its position in EVgo by 34.9% during the 4th 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 period. Voisard Asset Management Group Inc. acquired a new stake in shares of EVgo in the 4th quarter worth approximately $29,000. Tower Research Capital LLC TRC grew its holdings in shares of EVgo by 542.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 25,702 shares of the company’s stock worth $92,000 after acquiring an additional 21,701 shares during the period. Finally, Blueshift Asset Management LLC acquired a new stake in shares of EVgo in the 4th quarter worth approximately $72,000. 17.44% of the stock is owned by hedge funds and other institutional investors.

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.