Insider Selling: EVgo, Inc. (NYSE:EVGO) President Sells 17,379 Shares of Stock

EVgo, Inc. (NYSE:EVGO) President Dennis G. Kish sold 17,379 shares of EVgo stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $4.32, for a total transaction of $75,077.28. Following the completion of the transaction, the president now directly owns 13,655 shares in the company, valued at $58,989.60. This represents a 56.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

EVgo Trading Up 3.1 %

Shares of EVGO stock traded up $0.13 during trading hours on Friday, hitting $4.32. The company’s stock had a trading volume of 4,985,835 shares, compared to its average volume of 4,885,768. The stock has a market cap of $1.31 billion, a PE ratio of -10.29 and a beta of 2.24. EVgo, Inc. has a 12-month low of $1.65 and a 12-month high of $9.07. The company has a 50 day moving average of $5.84 and a 200 day moving average of $4.87.

EVgo (NYSE:EVGO) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The business had revenue of $67.50 million for the quarter, compared to the consensus estimate of $66.52 million. The business’s revenue was up 92.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.09) earnings per share. As a group, analysts anticipate that EVgo, Inc. will post -0.41 earnings per share for the current fiscal year.

Institutional Trading of EVgo

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp lifted its holdings in EVgo by 25.3% in the third quarter. State Street Corp now owns 4,192,828 shares of the company’s stock valued at $17,358,000 after acquiring an additional 847,777 shares during the period. Marshall Wace LLP increased its holdings in shares of EVgo by 66.4% during the 2nd quarter. Marshall Wace LLP now owns 1,633,304 shares of the company’s stock valued at $4,002,000 after purchasing an additional 651,475 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of EVgo by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,419,863 shares of the company’s stock valued at $10,020,000 after purchasing an additional 90,887 shares during the period. International Assets Investment Management LLC purchased a new stake in EVgo during the third quarter worth $51,000. Finally, Verition Fund Management LLC acquired a new stake in EVgo during the third quarter valued at $653,000. 17.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. UBS Group raised EVgo from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $4.00 to $8.50 in a research report on Thursday, October 10th. Cantor Fitzgerald restated an “overweight” rating and set a $5.00 price target on shares of EVgo in a research note on Monday, September 30th. TD Cowen raised shares of EVgo from a “hold” rating to a “buy” rating and increased their price objective for the company from $5.00 to $7.00 in a research report on Thursday, October 3rd. Royal Bank of Canada boosted their target price on shares of EVgo from $4.00 to $8.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Finally, Capital One Financial raised shares of EVgo to a “strong-buy” rating in a report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $6.61.

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.