EVgo (NYSE:EVGO) Reaches New 52-Week High at $4.80

EVgo, Inc. (NYSE:EVGO)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $4.80 and last traded at $4.67, with a volume of 231953 shares changing hands. The stock had previously closed at $4.70.

Analysts Set New Price Targets

EVGO has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of EVgo in a research report on Thursday, August 29th. Capital One Financial raised shares of EVgo to a “strong-buy” rating in a research report on Monday. UBS Group assumed coverage on shares of EVgo in a report on Monday, July 22nd. They set a “neutral” rating and a $4.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $5.00 target price on shares of EVgo in a report on Monday, September 9th. Finally, Stifel Nicolaus dropped their price target on shares of EVgo from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $4.63.

EVgo Stock Performance

The company’s fifty day moving average is $3.91 and its 200-day moving average is $2.81. The company has a market capitalization of $1.41 billion, a PE ratio of -12.37 and a beta of 2.59.

EVgo (NYSE:EVGO) last released its earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.01. The firm had revenue of $66.62 million during the quarter, compared to analysts’ expectations of $59.40 million. The company’s revenue was up 31.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.08) earnings per share. On average, sell-side analysts expect that EVgo, Inc. will post -0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other EVgo news, President Dennis G. Kish sold 16,414 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $3.60, for a total value of $59,090.40. Following the completion of the transaction, the president now directly owns 47,614 shares in the company, valued at approximately $171,410.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other EVgo news, President Dennis G. Kish sold 16,414 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $3.60, for a total value of $59,090.40. Following the completion of the transaction, the president now directly owns 47,614 shares in the company, valued at approximately $171,410.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Francine Sullivan sold 12,584 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $3.60, for a total value of $45,302.40. Following the completion of the transaction, the insider now owns 117,327 shares of the company’s stock, valued at $422,377.20. The disclosure for this sale can be found here. Insiders sold 31,475 shares of company stock worth $110,189 in the last three months. 66.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EVGO. Voisard Asset Management Group Inc. bought a new stake in EVgo in the fourth quarter worth $29,000. Legacy Capital Wealth Partners LLC bought a new stake in EVgo in the second quarter worth $27,000. Simplicity Wealth LLC purchased a new stake in EVgo in the first quarter worth $36,000. Bleakley Financial Group LLC purchased a new stake in EVgo in the first quarter worth $36,000. Finally, SG Americas Securities LLC purchased a new stake in EVgo in the first quarter worth $41,000. 17.44% of the stock is currently owned by institutional investors.

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.