EVgo (NYSE:EVGO) Stock Price Up 5.1%

EVgo, Inc. (NYSE:EVGO) rose 5.1% during trading on Tuesday . The company traded as high as $3.71 and last traded at $3.70. Approximately 283,772 shares changed hands during trading, a decline of 91% from the average daily volume of 3,112,633 shares. The stock had previously closed at $3.52.

Analysts Set New Price Targets

EVGO has been the subject of a number of research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $4.00 target price on shares of EVgo in a research report on Monday. Citigroup lowered their target price on EVgo from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a research report on Wednesday, May 8th. Benchmark raised their price target on EVgo from $3.00 to $5.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Finally, Evercore ISI lowered their price target on EVgo from $8.00 to $7.00 and set an “outperform” rating for the company in a research report on Monday, May 13th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.29.

EVgo Stock Up 3.1 %

The business has a 50 day simple moving average of $2.49 and a two-hundred day simple moving average of $2.40. The firm has a market cap of $1.10 billion, a PE ratio of -9.79 and a beta of 2.58.

EVgo (NYSE:EVGO) last released its earnings results on Tuesday, May 7th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The business had revenue of $55.16 million during the quarter, compared to analysts’ expectations of $52.41 million. During the same quarter in the previous year, the business earned ($0.09) EPS. The business’s revenue for the quarter was up 118.0% on a year-over-year basis. Equities analysts forecast that EVgo, Inc. will post -0.38 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Badar Khan purchased 125,000 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were purchased at an average price of $2.01 per share, for a total transaction of $251,250.00. Following the completion of the purchase, the chief executive officer now owns 143,874 shares in the company, valued at approximately $289,186.74. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 66.96% of the company’s stock.

Hedge Funds Weigh In On EVgo

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of EVgo by 0.4% during the first quarter. Vanguard Group Inc. now owns 9,698,722 shares of the company’s stock valued at $24,344,000 after buying an additional 37,168 shares during the period. Wellington Management Group LLP boosted its position in EVgo by 34.9% during the fourth quarter. Wellington Management Group LLP now owns 3,675,314 shares of the company’s stock valued at $13,158,000 after purchasing an additional 951,272 shares in the last quarter. Atria Wealth Solutions Inc. boosted its position in EVgo by 2.8% during the second quarter. Atria Wealth Solutions Inc. now owns 330,871 shares of the company’s stock valued at $811,000 after purchasing an additional 8,940 shares in the last quarter. Tidal Investments LLC boosted its position in EVgo by 32.2% during the first quarter. Tidal Investments LLC now owns 317,945 shares of the company’s stock valued at $798,000 after purchasing an additional 77,354 shares in the last quarter. Finally, KBC Group NV boosted its position in EVgo by 88.7% during the fourth quarter. KBC Group NV now owns 227,367 shares of the company’s stock valued at $814,000 after purchasing an additional 106,869 shares in the last quarter. Hedge funds and other institutional investors 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.