Dennis G. Kish Sells 46,785 Shares of EVgo, Inc. (NASDAQ:EVGO) Stock

EVgo, Inc. (NASDAQ:EVGO) President Dennis G. Kish sold 46,785 shares of the firm’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $3.75, for a total value of $175,443.75. Following the sale, the president now owns 145,484 shares in the company, valued at $545,565. The trade was a 24.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

EVgo Trading Down 7.3%

EVGO opened at $3.45 on Thursday. The company has a market cap of $1.06 billion, a P/E ratio of -8.21 and a beta of 2.27. The business’s 50-day moving average price is $2.92 and its 200-day moving average price is $3.83. EVgo, Inc. has a 12 month low of $1.92 and a 12 month high of $9.07.

EVgo (NASDAQ:EVGO) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.02. The company had revenue of $75.29 million during the quarter, compared to analysts’ expectations of $70.11 million. The firm’s quarterly revenue was up 36.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.09) EPS. Equities research analysts forecast that EVgo, Inc. will post -0.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its holdings in EVgo by 5.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 86,588 shares of the company’s stock valued at $351,000 after purchasing an additional 4,597 shares during the period. Rhumbline Advisers increased its holdings in EVgo by 3.2% during the 4th quarter. Rhumbline Advisers now owns 148,541 shares of the company’s stock valued at $602,000 after purchasing an additional 4,622 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in EVgo by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 298,794 shares of the company’s stock valued at $1,210,000 after purchasing an additional 5,377 shares during the period. Arizona State Retirement System increased its holdings in EVgo by 20.1% during the 1st quarter. Arizona State Retirement System now owns 35,481 shares of the company’s stock valued at $94,000 after purchasing an additional 5,945 shares during the period. Finally, Paloma Partners Management Co increased its holdings in EVgo by 25.0% during the 4th quarter. Paloma Partners Management Co now owns 30,000 shares of the company’s stock valued at $122,000 after purchasing an additional 5,993 shares during the period. Hedge funds and other institutional investors own 17.44% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. restated an “overweight” rating on shares of EVgo in a research report on Thursday, May 8th. Cantor Fitzgerald restated an “overweight” rating and set a $8.00 price target on shares of EVgo in a research report on Wednesday, March 5th. Evercore ISI lowered their price target on EVgo from $7.00 to $4.00 and set an “outperform” rating on the stock in a research report on Monday, March 31st. UBS Group lowered their price target on EVgo from $8.00 to $5.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Finally, Stifel Nicolaus lowered their price target on EVgo from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $6.25.

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.