EVgo (NYSE:EVGO) Sets New 12-Month High – Still a Buy?

EVgo, Inc. (NYSE:EVGO)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $9.04 and last traded at $8.97, with a volume of 519016 shares changing hands. The stock had previously closed at $8.94.

Wall Street Analyst Weigh In

EVGO has been the subject of a number of recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $5.00 price objective on shares of EVgo in a report on Monday, September 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a report on Thursday, August 29th. Benchmark lifted their price objective on EVgo from $3.00 to $5.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Marathon Capitl upgraded shares of EVgo from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Royal Bank of Canada raised their price target on shares of EVgo from $4.00 to $8.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Two investment 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, EVgo has a consensus rating of “Buy” and an average target price of $6.17.

EVgo Price Performance

The business’s fifty day moving average is $5.26 and its 200-day moving average is $3.49. The company has a market cap of $2.70 billion, a PE ratio of -23.53 and a beta of 2.58.

EVgo (NYSE:EVGO) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The business had revenue of $66.62 million for the quarter, compared to the consensus estimate of $59.40 million. The company’s revenue was up 31.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.08) EPS. Analysts forecast that EVgo, Inc. will post -0.4 EPS for the current fiscal year.

Insider Transactions at EVgo

In related news, President Dennis G. Kish sold 16,414 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $3.60, for a total value of $59,090.40. Following the completion of the sale, the president now directly owns 47,614 shares of the company’s stock, valued at approximately $171,410.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, President Dennis G. Kish sold 16,414 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $3.60, for a total value of $59,090.40. Following the completion of the transaction, the president now owns 47,614 shares of the company’s stock, valued at approximately $171,410.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Francine Sullivan sold 12,584 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $3.60, for a total value of $45,302.40. Following the sale, the insider now directly owns 117,327 shares in the company, valued at approximately $422,377.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 66.96% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EVGO. Legacy Capital Wealth Partners LLC bought a new stake in shares of EVgo during the second quarter valued at approximately $27,000. International Assets Investment Management LLC purchased a new stake in EVgo in the 3rd quarter worth $51,000. Creative Planning boosted its holdings in shares of EVgo by 32.7% during the 3rd quarter. Creative Planning now owns 13,365 shares of the company’s stock valued at $55,000 after purchasing an additional 3,297 shares during the last quarter. Bleakley Financial Group LLC purchased a new position in shares of EVgo during the first quarter valued at about $36,000. Finally, SG Americas Securities LLC bought a new stake in shares of EVgo in the first quarter worth about $41,000. 17.44% of the stock is owned by hedge funds and other institutional investors.

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.