EVgo (NYSE:EVGO) trading up 9.1%

EVgo, Inc. (NYSE:EVGO – Get Your Free Report ) traded up 9.1% on Friday. The company traded as high as $4.17 and last traded at $4.08. During trading, 2,210,012 shares were traded, down 30% from the session’s average volume of 3,143,172 shares. Shares previously closed at $3.74.

Analysts set new price targets

A number of research analysts recently commented on the company. Benchmark boosted their price target on EVgo from $3.00 to $5.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Stifel Nicolaus decreased their price target on EVgo from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Evercore ISI cut their price target on EVgo from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Monday, May 13th. Cantor Fitzgerald restated an “overweight” rating and issued a $5.00 price objective on shares of EVgo in a research note on Monday, August 19th. Finally, UBS Group began coverage on shares of EVgo in a research report on Monday, July 22nd. They set a “neutral” rating and a $4.00 price target on the stock. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $4.63.

Check out our latest research report on EVGO

EVgo stock up 12.6%

The stock has a 50-day moving average of $3.26 and a 200-day moving average of $2.59. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -11.08 and a beta of 2.58.

EVgo (NYSE:EVGO – Get Your Free Report ) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.01. The firm had revenue of $66.62 million for the quarter, compared to the consensus estimate of $59.40 million. In the same quarter last year, the business posted EPS of ($0.08). The company’s revenue for the quarter was up 31.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that EVgo, Inc. will post -0.38 EPS for the current fiscal year.

Internal activity at EVgo

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

Institutional investors are investing in EVgo

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Voisard Asset Management Group Inc. bought a new position in shares of EVgo during the fourth quarter valued at approximately $29,000. Legacy Capital Wealth Partners LLC bought a new position in EVgo in the second quarter valued at about $27,000. Bleakley Financial Group LLC acquired a new stake in EVgo in the 1st quarter valued at about $36,000. Simplicity Wealth LLC bought a new stake in shares of EVgo in the first quarter valued at about $36,000. Finally, International Assets Investment Management LLC purchased a new position in shares of EVgo during the fourth quarter valued at approximately $580,000. 17.44% of shares are held by institutional investors.

EVgo Company Profile

(Get a free report)

EVgo, Inc owns and operates a DC fast charging network for electric vehicles (EVs) in the United States. The company provides electricity directly to drivers, who access publicly available network chargers; original equipment manufacturer charging and related services; public fleet charging and sharing services; and charging as a service and dedicated fleet charging services.

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