EVgo (NYSE:EVGO) Trading 6% Higher

Shares of EVgo, Inc. (NYSE:EVGO) rose 6% on Tuesday . The stock traded as high as $4.68 and last traded at $4.61. Approximately 1,654,414 shares traded hands during trading, a decline of 47% from the average daily volume of 3,104,958 shares. The stock had previously closed at $4.35.

Wall Street Analysts Forecast Growth

EVGO has been the topic of a number of research analyst reports. Benchmark boosted their price target on EVgo from $3.00 to $5.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Needham & Company LLC reissued a “hold” rating on shares of EVgo in a research report on Thursday, August 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $5.00 price target on shares of EVgo in a report on Monday, September 9th. Stifel Nicolaus dropped their price objective on shares of EVgo from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, UBS Group initiated coverage on EVgo in a research note on Monday, July 22nd. They issued a “neutral” rating and a $4.00 target price for the company. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $4.63.

EVgo Stock Up 8.0 %

The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -12.13 and a beta of 2.59. The business’s 50-day moving average is $3.88 and its 200-day moving average is $2.79.

EVgo (NYSE:EVGO) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The company had revenue of $66.62 million for the quarter, compared to analysts’ expectations of $59.40 million. During the same quarter in the previous year, the business posted ($0.08) EPS. The business’s quarterly revenue was up 31.8% on a year-over-year basis. As a group, analysts expect that EVgo, Inc. will post -0.4 EPS for the current year.

Insider Buying and Selling at EVgo

In other news, President Dennis G. Kish sold 16,414 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $3.60, for a total transaction of $59,090.40. Following the sale, the president now owns 47,614 shares of the company’s stock, valued at approximately $171,410.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other EVgo news, President Dennis G. Kish sold 16,414 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $3.60, for a total value of $59,090.40. Following the completion of the transaction, the president now owns 47,614 shares in the company, valued at $171,410.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Francine Sullivan sold 12,584 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $3.60, for a total value of $45,302.40. Following the sale, the insider now owns 117,327 shares in the company, valued at $422,377.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,475 shares of company stock valued at $110,189. 66.96% of the stock is owned by company insiders.

Institutional Trading of EVgo

A number of institutional investors and hedge funds have recently made changes to their positions in EVGO. International Assets Investment Management LLC purchased a new stake in shares of EVgo during the fourth quarter worth about $580,000. Vanguard Group Inc. raised its holdings in shares of EVgo by 0.4% during the first quarter. Vanguard Group Inc. now owns 9,698,722 shares of the company’s stock valued at $24,344,000 after acquiring an additional 37,168 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of EVgo by 34.9% in the fourth quarter. Wellington Management Group LLP now owns 3,675,314 shares of the company’s stock valued at $13,158,000 after acquiring an additional 951,272 shares in the last quarter. Voisard Asset Management Group Inc. purchased a new stake in shares of EVgo during the fourth quarter worth approximately $29,000. Finally, Bleakley Financial Group LLC acquired a new position in EVgo in the 1st quarter valued at $36,000. 17.44% of the stock is currently 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.