Insider Selling: EVgo, Inc. (NYSE:EVGO) President Sells 44,184 Shares of Stock

EVgo, Inc. (NYSE:EVGO) President Dennis G. Kish sold 44,184 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $3.41, for a total transaction of $150,667.44. Following the sale, the president now directly owns 95,986 shares of the company’s stock, valued at approximately $327,312.26. This trade represents a 31.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

EVgo Stock Up 0.3 %

Shares of EVGO stock traded up $0.01 during trading hours on Tuesday, reaching $3.46. 2,387,810 shares of the stock traded hands, compared to its average volume of 5,328,022. The business has a fifty day moving average price of $4.59 and a 200 day moving average price of $5.03. EVgo, Inc. has a 1-year low of $1.65 and a 1-year high of $9.07. The firm has a market capitalization of $1.05 billion, a PE ratio of -8.24 and a beta of 2.32.

EVgo (NYSE:EVGO) last released its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) 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 the consensus estimate of $66.52 million. The firm’s quarterly revenue was up 92.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.09) EPS. Research analysts expect that EVgo, Inc. will post -0.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on EVGO. UBS Group reduced their price objective on EVgo from $8.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Stifel Nicolaus increased their price objective on shares of EVgo from $6.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Needham & Company LLC reissued a “hold” rating on shares of EVgo in a research report on Thursday, January 16th. Marathon Capitl raised shares of EVgo from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of EVgo from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $6.22.

Institutional Investors Weigh In On EVgo

Institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC purchased a new position in shares of EVgo during the 3rd quarter valued at $51,000. Creative Planning grew its stake in EVgo by 32.7% in the third quarter. Creative Planning now owns 13,365 shares of the company’s stock valued at $55,000 after purchasing an additional 3,297 shares in the last quarter. Legacy Capital Wealth Partners LLC increased its position in EVgo by 31.8% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 14,500 shares of the company’s stock worth $60,000 after purchasing an additional 3,500 shares during the last quarter. Clear Harbor Asset Management LLC purchased a new stake in shares of EVgo during the 4th quarter worth about $72,000. Finally, Blueshift Asset Management LLC acquired a new stake in shares of EVgo during the 3rd quarter valued at about $80,000. 17.44% of the stock is currently owned by institutional investors and hedge funds.

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.