Insider Selling: EVgo, Inc. (NYSE:EVGO) President Sells 17,379 Shares of Stock

EVgo, Inc. (NYSE:EVGO) President Dennis G. Kish sold 17,379 shares of EVgo stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $4.32, for a total value of $75,077.28. Following the completion of the transaction, the president now owns 13,655 shares of the company’s stock, valued at approximately $58,989.60. This represents a 56.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

EVgo Stock Performance

EVgo stock traded up $0.13 during trading hours on Friday, hitting $4.32. The company had a trading volume of 4,985,835 shares, compared to its average volume of 4,885,768. The firm has a market cap of $1.31 billion, a P/E ratio of -10.29 and a beta of 2.24. The company has a 50-day moving average price of $5.84 and a two-hundred day moving average price of $4.87. EVgo, Inc. has a 1 year low of $1.65 and a 1 year high of $9.07.

EVgo (NYSE:EVGO) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The company had revenue of $67.50 million during the quarter, compared to analysts’ expectations of $66.52 million. The business’s revenue for the quarter was up 92.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.09) EPS. As a group, equities research analysts anticipate that EVgo, Inc. will post -0.41 EPS for the current year.

Hedge Funds Weigh In On EVgo

Hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning boosted its stake in shares of EVgo by 32.7% during the third quarter. Creative Planning now owns 13,365 shares of the company’s stock valued at $55,000 after purchasing an additional 3,297 shares in the last quarter. Legacy Capital Wealth Partners LLC boosted its position in EVgo by 31.8% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 14,500 shares of the company’s stock valued at $60,000 after acquiring an additional 3,500 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of EVgo by 20.2% in the 3rd quarter. Janus Henderson Group PLC now owns 52,416 shares of the company’s stock worth $217,000 after acquiring an additional 8,800 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of EVgo by 9.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 122,945 shares of the company’s stock worth $509,000 after purchasing an additional 10,532 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in EVgo during the third quarter valued at about $51,000. Institutional investors own 17.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. dropped their target price on EVgo from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Friday, December 20th. Stifel Nicolaus lifted their price objective on shares of EVgo from $6.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. UBS Group upgraded shares of EVgo from a “neutral” rating to a “buy” rating and raised their target price for the stock from $4.00 to $8.50 in a report on Thursday, October 10th. Royal Bank of Canada lifted their price target on shares of EVgo from $4.00 to $8.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Finally, Capital One Financial raised shares of EVgo to a “strong-buy” rating in a research report on Monday, September 16th. Two equities 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $6.61.

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.