EVgo (NYSE:EVGO) Hits New 52-Week Low at $1.67

EVgo, Inc. (NYSE:EVGO) shares hit a new 52-week low on Monday . The company traded as low as $1.67 and last traded at $1.69, with a volume of 920019 shares trading hands. The stock had previously closed at $1.73.

Wall Street Analysts Forecast Growth

EVGO has been the subject of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $4.00 target price on shares of EVgo in a research note on Friday, April 5th. Evercore ISI decreased their target price on shares of EVgo from $9.00 to $8.00 and set an “outperform” rating for the company in a research note on Thursday, March 7th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $5.00 price objective on shares of EVgo in a research report on Thursday, March 7th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, EVgo currently has a consensus rating of “Moderate Buy” and an average price target of $5.19.

EVgo Trading Up 0.6 %

The stock has a market capitalization of $527.66 million, a PE ratio of -3.72 and a beta of 2.45. The firm’s 50-day moving average price is $2.39 and its 200-day moving average price is $2.68.

EVgo (NYSE:EVGO) last announced its quarterly earnings data on Wednesday, March 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.05. The firm had revenue of $50.00 million during the quarter, compared to the consensus estimate of $44.39 million. The firm’s revenue for the quarter was up 83.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.06) EPS. On average, equities research analysts predict that EVgo, Inc. will post -0.37 earnings per share for the current fiscal year.

Insider Transactions at EVgo

In related news, CFO Olga Shevorenkova sold 29,772 shares of EVgo stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $2.26, for a total transaction of $67,284.72. Following the transaction, the chief financial officer now directly owns 154,989 shares of the company’s stock, valued at $350,275.14. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Olga Shevorenkova sold 29,772 shares of EVgo stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $2.26, for a total transaction of $67,284.72. Following the transaction, the chief financial officer now directly owns 154,989 shares of the company’s stock, valued at $350,275.14. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Dennis G. Kish sold 34,717 shares of EVgo stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $3.00, for a total transaction of $104,151.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,002 shares of company stock valued at $234,693. 66.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EVgo

Several institutional investors and hedge funds have recently bought and sold shares of EVGO. Voisard Asset Management Group Inc. purchased a new position in EVgo in the fourth quarter worth $29,000. Headlands Technologies LLC purchased a new position in EVgo in the third quarter worth $32,000. Verdence Capital Advisors LLC purchased a new position in EVgo in the third quarter worth $34,000. Sigma Planning Corp purchased a new position in EVgo in the third quarter worth $36,000. Finally, Sippican Capital Advisors purchased a new position in EVgo in the fourth quarter worth $43,000. 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.