Insider Selling: EVgo, Inc. (NYSE:EVGO) President Sells $150,667.44 in Stock

EVgo, Inc. (NYSE:EVGO) President Dennis G. Kish sold 44,184 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $3.41, for a total value of $150,667.44. Following the transaction, the president now directly owns 95,986 shares in the company, valued at approximately $327,312.26. This represents a 31.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

EVgo Trading Down 0.6 %

Shares of EVgo stock opened at $3.34 on Friday. The company has a fifty day moving average price of $4.46 and a 200 day moving average price of $5.01. EVgo, Inc. has a twelve month low of $1.65 and a twelve month high of $9.07. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -7.95 and a beta of 2.32.

EVgo (NYSE:EVGO) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates 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. EVgo’s revenue was up 92.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.09) earnings per share. Analysts forecast that EVgo, Inc. will post -0.45 earnings per share for the current year.

Wall Street Analyst Weigh In

EVGO has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on EVgo from $6.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Needham & Company LLC reissued a “hold” rating on shares of EVgo in a research note on Thursday, January 16th. Marathon Capitl upgraded EVgo from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. cut their price target on EVgo from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Friday, December 20th. Finally, UBS Group cut their price target on EVgo from $8.00 to $5.00 and set a “buy” rating for the company in a report on Monday, January 27th. Two research 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $6.22.

Institutional Investors Weigh In On EVgo

Institutional investors have recently modified their holdings of the stock. State Street Corp raised its stake 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 in the last quarter. Geode Capital Management LLC increased its stake in shares of EVgo by 3.9% in the third 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 acquired a new stake in shares of EVgo in the third quarter valued at approximately $51,000. Verition Fund Management LLC bought a new position in shares of EVgo in the third quarter valued at approximately $653,000. Finally, Maven Securities LTD bought a new position in shares of EVgo in the third quarter valued at approximately $497,000. 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.