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

EVgo, Inc. (NYSE:EVGO) President Dennis G. Kish sold 17,379 shares of EVgo stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $4.32, for a total transaction of $75,077.28. Following the sale, the president now directly owns 13,655 shares in the company, valued at $58,989.60. The trade was a 56.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

EVgo Price Performance

Shares of NYSE:EVGO opened at $4.32 on Monday. The firm’s 50 day simple moving average is $5.84 and its two-hundred day simple moving average is $4.91. The company has a market capitalization of $1.31 billion, a P/E ratio of -10.29 and a beta of 2.24. EVgo, Inc. has a 1-year low of $1.65 and a 1-year high of $9.07.

EVgo (NYSE:EVGO) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates 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. The firm’s revenue for the quarter was up 92.3% on a year-over-year basis. During the same period last year, the business posted ($0.09) earnings per share. On average, sell-side analysts anticipate that EVgo, Inc. will post -0.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On EVgo

Hedge funds have recently modified their holdings of the stock. State Street Corp lifted its stake in 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 in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of EVgo in the second quarter worth about $1,749,000. Marshall Wace LLP lifted its position in shares of 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 buying an additional 651,475 shares in the last quarter. SIR Capital Management L.P. boosted its stake in EVgo by 76.9% during the second quarter. SIR Capital Management L.P. now owns 958,600 shares of the company’s stock valued at $2,349,000 after buying an additional 416,800 shares during the last quarter. Finally, HITE Hedge Asset Management LLC grew its holdings in EVgo by 105.0% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 413,906 shares of the company’s stock valued at $1,714,000 after buying an additional 212,004 shares in the last quarter. Hedge funds and other institutional investors own 17.44% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on EVGO. Needham & Company LLC reissued a “hold” rating on shares of EVgo in a research note on Wednesday, November 13th. Capital One Financial raised shares of EVgo to a “strong-buy” rating in a report on Monday, September 16th. UBS Group raised shares of EVgo from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $4.00 to $8.50 in a report on Thursday, October 10th. TD Cowen raised shares of EVgo from a “hold” rating to a “buy” rating and lifted their target price for the stock from $5.00 to $7.00 in a research report on Thursday, October 3rd. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $5.00 price target on shares of EVgo in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $6.61.

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.