EVgo, Inc. (NYSE:EVGO – Get Free Report)’s share price fell 3.7% during trading on Tuesday after Stifel Nicolaus lowered their price target on the stock from $7.00 to $6.00. Stifel Nicolaus currently has a buy rating on the stock. EVgo traded as low as $3.55 and last traded at $3.60. 516,848 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 3,208,091 shares. The stock had previously closed at $3.74.
Several other research firms have also commented on EVGO. UBS Group began coverage on EVgo in a research report on Monday, July 22nd. They issued a “neutral” rating and a $4.00 price objective on the stock. Cantor Fitzgerald upped their price objective on EVgo from $4.00 to $5.00 and gave the stock an “overweight” rating in a research report on Friday. Citigroup lowered their price objective on EVgo from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. Benchmark upped their price objective on EVgo from $3.00 to $5.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, EVgo currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.63.
Insider Buying and Selling at EVgo
In other news, CEO Badar Khan acquired 125,000 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were bought at an average price of $2.01 per share, for a total transaction of $251,250.00. Following the acquisition, the chief executive officer now owns 143,874 shares of the company’s stock, valued at approximately $289,186.74. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 66.96% of the stock is currently owned by insiders.
Institutional Trading of EVgo
A number of hedge funds and other institutional investors have recently modified their holdings of EVGO. Legacy Capital Wealth Partners LLC acquired a new stake in shares of EVgo in the 2nd quarter worth $27,000. Voisard Asset Management Group Inc. acquired a new stake in shares of EVgo in the 4th quarter worth $29,000. Simplicity Wealth LLC acquired a new stake in shares of EVgo in the 1st quarter worth $36,000. Bleakley Financial Group LLC acquired a new stake in shares of EVgo in the 1st quarter worth $36,000. Finally, SG Americas Securities LLC acquired a new stake in shares of EVgo in the 1st quarter worth $41,000. 17.44% of the stock is owned by institutional investors and hedge funds.
EVgo Stock Performance
The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -9.61 and a beta of 2.58. The business has a 50 day simple moving average of $2.83 and a 200-day simple moving average of $2.47.
EVgo (NYSE:EVGO – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. The business had revenue of $66.62 million for the quarter, compared to analyst estimates 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 in the previous year, the business posted ($0.08) earnings per share. Equities analysts predict that EVgo, Inc. will post -0.38 earnings per share for the current fiscal year.
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.