Badar Khan Sells 166,725 Shares of EVgo, Inc. (NYSE:EVGO) Stock

EVgo, Inc. (NYSE:EVGO) CEO Badar Khan sold 166,725 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $5.14, for a total value of $856,966.50. Following the completion of the sale, the chief executive officer now owns 348,761 shares in the company, valued at approximately $1,792,631.54. This represents a 32.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

EVgo Stock Up 0.2 %

NYSE EVGO opened at $5.06 on Monday. EVgo, Inc. has a 52 week low of $1.65 and a 52 week high of $9.07. The business’s fifty day simple moving average is $6.12 and its 200-day simple moving average is $4.07. The firm has a market cap of $1.53 billion, a PE ratio of -12.05 and a beta of 2.38.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of EVgo by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 9,698,722 shares of the company’s stock valued at $24,344,000 after acquiring an additional 37,168 shares during the period. State Street Corp boosted its position in shares of EVgo by 25.3% during the 3rd quarter. State Street Corp now owns 4,192,828 shares of the company’s stock worth $17,358,000 after purchasing an additional 847,777 shares during the period. Geode Capital Management LLC increased its holdings in EVgo by 3.9% in the 3rd 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 last quarter. Marshall Wace LLP raised its position in EVgo by 66.4% in the second quarter. Marshall Wace LLP now owns 1,633,304 shares of the company’s stock valued at $4,002,000 after purchasing an additional 651,475 shares during the period. Finally, SIR Capital Management L.P. lifted its stake in EVgo by 76.9% during the second quarter. SIR Capital Management L.P. now owns 958,600 shares of the company’s stock worth $2,349,000 after purchasing an additional 416,800 shares in the last quarter. Institutional investors and hedge funds own 17.44% of the company’s stock.

Wall Street Analyst Weigh In

EVGO has been the subject of a number of recent analyst reports. Royal Bank of Canada lifted their price objective on shares of EVgo from $4.00 to $8.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Stifel Nicolaus upped their target price on EVgo from $6.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Capital One Financial raised shares of EVgo to a “strong-buy” rating in a report on Monday, September 16th. TD Cowen raised shares of EVgo from a “hold” rating to a “buy” rating and increased their price objective for the company from $5.00 to $7.00 in a report on Thursday, October 3rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $6.61.

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.