EVgo, Inc. (NYSE:EVGO) Insider Sells $45,302.40 in Stock

EVgo, Inc. (NYSE:EVGO) insider Francine Sullivan sold 12,584 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $3.60, for a total transaction of $45,302.40. Following the sale, the insider now owns 117,327 shares in the company, valued at $422,377.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

EVgo Trading Up 5.1 %

Shares of EVGO traded up $0.18 during midday trading on Tuesday, reaching $3.68. The stock had a trading volume of 2,259,908 shares, compared to its average volume of 3,207,435. The firm has a 50 day simple moving average of $2.99 and a 200-day simple moving average of $2.51. EVgo, Inc. has a one year low of $1.65 and a one year high of $4.70. The firm has a market cap of $1.11 billion, a PE ratio of -9.68 and a beta of 2.58.

EVgo (NYSE:EVGO) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.01. The company had revenue of $66.62 million during the quarter, compared to the consensus estimate of $59.40 million. The firm’s revenue was up 31.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.08) earnings per share. As a group, research analysts forecast that EVgo, Inc. will post -0.38 EPS for the current fiscal year.

Institutional Trading of EVgo

Several hedge funds have recently added to or reduced their stakes in EVGO. Legacy Capital Wealth Partners LLC acquired a new stake in EVgo during the 2nd quarter worth approximately $27,000. Voisard Asset Management Group Inc. acquired a new stake in EVgo during the 4th quarter worth approximately $29,000. Bleakley Financial Group LLC acquired a new stake in EVgo during the 1st quarter worth approximately $36,000. Simplicity Wealth LLC acquired a new stake in EVgo during the 1st quarter worth approximately $36,000. Finally, SG Americas Securities LLC bought a new position in EVgo during the 1st quarter worth $41,000. 17.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EVGO. Needham & Company LLC restated a “hold” rating on shares of EVgo in a report on Friday, August 2nd. UBS Group assumed coverage on shares of EVgo in a research note on Monday, July 22nd. They issued a “neutral” rating and a $4.00 price target on the stock. Benchmark lifted their price target on shares of EVgo from $3.00 to $5.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Cantor Fitzgerald lifted their price target on shares of EVgo from $4.00 to $5.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Evercore ISI lowered their price target on shares of EVgo from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Monday, May 13th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, EVgo currently has an average rating of “Moderate Buy” and a consensus price target of $4.63.

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.