EVgo (NYSE:EVGO) Issues Earnings Results, Beats Estimates By $0.02 EPS

EVgo (NYSE:EVGO) released its quarterly earnings data on Tuesday. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02, Briefing.com reports. The firm had revenue of $55.16 million during the quarter, compared to the consensus estimate of $52.41 million. The business’s revenue was up 118.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.09) EPS.

EVgo Stock Down 1.4 %

Shares of NYSE EVGO traded down $0.03 during midday trading on Wednesday, reaching $1.77. 1,689,375 shares of the company’s stock traded hands, compared to its average volume of 2,870,663. The company has a market cap of $532.18 million, a price-to-earnings ratio of -3.76 and a beta of 2.53. The stock’s 50 day simple moving average is $2.25 and its 200-day simple moving average is $2.61. EVgo has a one year low of $1.65 and a one year high of $6.20.

Insider Buying and Selling

In related news, CFO Olga Shevorenkova sold 19,363 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total transaction of $58,089.00. Following the completion of the sale, the chief financial officer now directly owns 81,991 shares in the company, valued at approximately $245,973. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Olga Shevorenkova sold 19,363 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $3.00, for a total transaction of $58,089.00. Following the completion of the transaction, the chief financial officer now owns 81,991 shares in the company, valued at approximately $245,973. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Dennis G. Kish sold 34,717 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $3.00, for a total transaction of $104,151.00. The disclosure for this sale can be found here. Insiders sold 56,230 shares of company stock valued at $167,409 over the last 90 days. Corporate insiders own 66.96% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on EVGO shares. Evercore ISI lowered their target price on shares of EVgo from $9.00 to $8.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. Needham & Company LLC restated a “hold” rating on shares of EVgo in a research report on Wednesday. Cantor Fitzgerald reiterated a “neutral” rating and issued a $5.00 price target on shares of EVgo in a report on Thursday, March 7th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $4.00 price objective on shares of EVgo in a report on Friday, April 5th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, EVgo presently has a consensus rating of “Hold” and a consensus price target of $5.19.

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.