EVgo, Inc. (NYSE:EVGO) President Sells $75,077.28 in Stock

EVgo, Inc. (NYSE:EVGO) President Dennis G. Kish sold 17,379 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $4.32, for a total transaction of $75,077.28. Following the completion of the transaction, the president now owns 13,655 shares of the company’s stock, valued at approximately $58,989.60. The trade was a 56.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

EVgo Stock Up 3.1 %

Shares of EVgo stock opened at $4.32 on Friday. EVgo, Inc. has a twelve month low of $1.65 and a twelve month high of $9.07. The company’s 50 day moving average is $5.84 and its 200 day moving average is $4.89. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -10.29 and a beta of 2.24.

EVgo (NYSE:EVGO) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The firm had revenue of $67.50 million during the quarter, compared to analysts’ expectations of $66.52 million. EVgo’s revenue for the quarter was up 92.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.09) earnings per share. Sell-side analysts expect that EVgo, Inc. will post -0.41 EPS for the current fiscal year.

Institutional Investors Weigh In On EVgo

Large investors have recently made changes to their positions in the company. State Street Corp lifted its stake in shares of EVgo by 25.3% in the 3rd quarter. State Street Corp now owns 4,192,828 shares of the company’s stock worth $17,358,000 after purchasing an additional 847,777 shares during the period. Point72 Asset Management L.P. bought a new position in EVgo in the second quarter worth approximately $1,749,000. Marshall Wace LLP raised its position in EVgo by 66.4% in the second quarter. Marshall Wace LLP now owns 1,633,304 shares of the company’s stock worth $4,002,000 after acquiring an additional 651,475 shares during the period. SIR Capital Management L.P. grew its position in shares of EVgo by 76.9% during the 2nd quarter. SIR Capital Management L.P. now owns 958,600 shares of the company’s stock valued at $2,349,000 after acquiring an additional 416,800 shares during the period. Finally, HITE Hedge Asset Management LLC increased its stake in shares of EVgo by 105.0% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 413,906 shares of the company’s stock worth $1,714,000 after purchasing an additional 212,004 shares in the last quarter. 17.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on EVGO shares. UBS Group raised shares of EVgo from a “neutral” rating to a “buy” rating and raised their target price for the company from $4.00 to $8.50 in a research note on Thursday, October 10th. TD Cowen upgraded shares of EVgo from a “hold” rating to a “buy” rating and upped their price target for the stock from $5.00 to $7.00 in a research note on Thursday, October 3rd. Stifel Nicolaus increased their price objective on shares of EVgo from $6.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. decreased their target price on shares of EVgo from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Friday, December 20th. Finally, Marathon Capitl upgraded shares of EVgo from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, EVgo has an average rating of “Buy” and a consensus price target of $6.61.

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.