EVgo (NYSE:EVGO) Trading 5% Higher

EVgo, Inc. (NYSE:EVGO)’s share price traded up 5% during trading on Tuesday . The stock traded as high as $2.52 and last traded at $2.52. 194,649 shares were traded during mid-day trading, a decline of 93% from the average session volume of 2,948,455 shares. The stock had previously closed at $2.40.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a research report on Wednesday, May 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $4.00 price objective on shares of EVgo in a research report on Friday, April 5th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $4.00 price objective on shares of EVgo in a research report on Monday. Citigroup decreased their price objective on shares of EVgo from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. Finally, Evercore ISI cut their target price on shares of EVgo from $8.00 to $7.00 and set an “outperform” rating for the company in a research note on Monday, May 13th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $4.00.

EVgo Stock Down 2.1 %

The firm’s 50 day moving average is $2.07 and its two-hundred day moving average is $2.43.

EVgo (NYSE:EVGO) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The company had revenue of $55.16 million for the quarter, compared to analyst estimates of $52.41 million. During the same period in the prior year, the company earned ($0.09) EPS. The company’s revenue was up 118.0% compared to the same quarter last year. Equities analysts expect that EVgo, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Badar Khan acquired 125,000 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was bought at an average price of $2.01 per share, with a total value of $251,250.00. Following the purchase, the chief executive officer now directly owns 143,874 shares in the company, valued at approximately $289,186.74. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 66.96% of the company’s stock.

Institutional Trading of EVgo

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its position in EVgo by 11.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 63,392 shares of the company’s stock worth $160,000 after purchasing an additional 6,633 shares in the last quarter. Voisard Asset Management Group Inc. acquired a new stake in EVgo during the 4th quarter worth approximately $29,000. Atria Wealth Solutions Inc. increased its position in EVgo by 3.2% during the 4th quarter. Atria Wealth Solutions Inc. now owns 288,368 shares of the company’s stock worth $1,032,000 after purchasing an additional 8,879 shares in the last quarter. PFG Investments LLC increased its position in EVgo by 94.2% during the 1st quarter. PFG Investments LLC now owns 20,976 shares of the company’s stock worth $53,000 after purchasing an additional 10,176 shares in the last quarter. Finally, Sippican Capital Advisors acquired a new stake in EVgo during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 17.44% of the company’s stock.

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.