EVgo, Inc. (NYSE:EVGO) CEO Sells $856,966.50 in Stock

EVgo, Inc. (NYSE:EVGO) CEO Badar Khan sold 166,725 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $5.14, for a total value of $856,966.50. Following the completion of the sale, the chief executive officer now owns 348,761 shares in the company, valued at $1,792,631.54. This represents a 32.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

EVgo Stock Performance

Shares of NYSE:EVGO traded up $0.01 on Friday, hitting $5.06. 6,415,023 shares of the company’s stock were exchanged, compared to its average volume of 4,571,949. The firm’s 50-day moving average is $6.12 and its 200 day moving average is $4.04. The company has a market capitalization of $1.53 billion, a PE ratio of -12.05 and a beta of 2.38. EVgo, Inc. has a 1-year low of $1.65 and a 1-year high of $9.07.

EVgo (NYSE:EVGO) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The firm had revenue of $67.50 million during the quarter, compared to analyst estimates of $66.52 million. The business’s quarterly revenue was up 92.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.09) earnings per share. On average, analysts anticipate that EVgo, Inc. will post -0.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on EVGO. Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 price objective on shares of EVgo in a report on Monday, September 30th. Royal Bank of Canada boosted their price objective on EVgo from $4.00 to $8.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. UBS Group upgraded EVgo from a “neutral” rating to a “buy” rating and upped their price target for the stock from $4.00 to $8.50 in a report on Thursday, October 10th. Needham & Company LLC restated a “hold” rating on shares of EVgo in a report on Wednesday. Finally, Stifel Nicolaus upped their price target on EVgo from $6.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Two equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $6.61.

Institutional Trading of EVgo

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of EVgo by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 9,698,722 shares of the company’s stock valued at $24,344,000 after purchasing an additional 37,168 shares during the period. State Street Corp boosted its position in shares of EVgo by 25.3% in the 3rd quarter. State Street Corp now owns 4,192,828 shares of the company’s stock valued at $17,358,000 after purchasing an additional 847,777 shares during the period. Marshall Wace LLP boosted its position in shares of EVgo by 66.4% in 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 during the period. SIR Capital Management L.P. boosted its position in shares of EVgo by 76.9% in the 2nd quarter. SIR Capital Management L.P. now owns 958,600 shares of the company’s stock valued at $2,349,000 after purchasing an additional 416,800 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in shares of EVgo in the 2nd quarter valued at about $1,749,000. 17.44% of the stock is 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.