EVgo (NYSE:EVGO) Trading Down 8.6%

Shares of EVgo, Inc. (NYSE:EVGO) traded down 8.6% during mid-day trading on Tuesday . The stock traded as low as $4.08 and last traded at $4.14. 1,203,134 shares traded hands during trading, a decline of 62% from the average session volume of 3,148,760 shares. The stock had previously closed at $4.53.

Analysts Set New Price Targets

EVGO has been the topic of a number of recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $5.00 price target on shares of EVgo in a research report on Tuesday. Stifel Nicolaus decreased their price target on EVgo from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Needham & Company LLC reissued a “hold” rating on shares of EVgo in a research note on Thursday, August 29th. Evercore ISI lowered their target price on EVgo from $8.00 to $7.00 and set an “outperform” rating for the company in a research note on Monday, May 13th. Finally, Citigroup reduced their price target on shares of EVgo from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $4.63.

EVgo Price Performance

The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -11.00 and a beta of 2.58. The stock has a 50-day moving average of $3.61 and a 200 day moving average of $2.70.

EVgo (NYSE:EVGO) last issued its earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.01. The business had revenue of $66.62 million during the quarter, compared to the consensus estimate of $59.40 million. The firm’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same period last year, the business posted ($0.08) EPS. Sell-side analysts anticipate that EVgo, Inc. will post -0.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, President Dennis G. Kish sold 16,414 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $3.60, for a total value of $59,090.40. Following the completion of the sale, the president now owns 47,614 shares in the company, valued at $171,410.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, President Dennis G. Kish sold 16,414 shares of EVgo 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 transaction, the president now owns 47,614 shares of the company’s stock, valued at approximately $171,410.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Francine Sullivan sold 12,584 shares of the company’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 $45,302.40. Following the completion of the sale, the insider now directly owns 117,327 shares of the company’s stock, valued at approximately $422,377.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,475 shares of company stock valued at $110,189. Company insiders own 66.96% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EVGO. Legacy Capital Wealth Partners LLC bought a new stake in shares of EVgo during the second quarter worth $27,000. Voisard Asset Management Group Inc. bought a new position in EVgo during the 4th quarter worth about $29,000. Simplicity Wealth LLC acquired a new stake in shares of EVgo in the 1st quarter valued at about $36,000. Bleakley Financial Group LLC bought a new stake in shares of EVgo in the first quarter valued at about $36,000. Finally, SG Americas Securities LLC bought a new position in shares of EVgo during the first quarter worth about $41,000. 17.44% 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.