EVgo, Inc. (NYSE:EVGO) President Dennis G. Kish Sells 17,379 Shares

EVgo, Inc. (NYSE:EVGO) President Dennis G. Kish sold 17,379 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $4.32, for a total transaction of $75,077.28. Following the sale, the president now directly owns 13,655 shares of the company’s stock, valued at approximately $58,989.60. The trade was a 56.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

EVgo Trading Up 3.1 %

EVGO opened at $4.32 on Friday. EVgo, Inc. has a 12-month low of $1.65 and a 12-month high of $9.07. The firm has a 50 day moving average of $5.84 and a two-hundred day moving average of $4.87. The firm has a market capitalization of $1.31 billion, a PE ratio of -10.29 and a beta of 2.24.

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 analysts’ consensus estimates of ($0.10) by ($0.01). The company had revenue of $67.50 million for the quarter, compared to the consensus estimate of $66.52 million. During the same period in the previous year, the company earned ($0.09) EPS. EVgo’s revenue for the quarter was up 92.3% compared to the same quarter last year. As a group, analysts predict that EVgo, Inc. will post -0.41 EPS for the current fiscal year.

Institutional Trading of EVgo

A number of hedge funds have recently modified their holdings of the stock. Tidal Investments LLC lifted its holdings in EVgo by 714.2% in the third quarter. Tidal Investments LLC now owns 94,541 shares of the company’s stock valued at $391,000 after acquiring an additional 82,929 shares during the period. Barclays PLC lifted its stake in shares of EVgo by 280.6% in the 3rd quarter. Barclays PLC now owns 132,981 shares of the company’s stock valued at $551,000 after purchasing an additional 98,041 shares during the period. Geode Capital Management LLC boosted its holdings in EVgo by 3.9% during the third quarter. Geode Capital Management LLC now owns 2,419,863 shares of the company’s stock worth $10,020,000 after buying an additional 90,887 shares in the last quarter. State Street Corp boosted its holdings in EVgo by 25.3% during the third quarter. State Street Corp now owns 4,192,828 shares of the company’s stock worth $17,358,000 after buying an additional 847,777 shares in the last quarter. Finally, Point72 DIFC Ltd grew its position in EVgo by 188.2% during the third quarter. Point72 DIFC Ltd now owns 52,965 shares of the company’s stock valued at $219,000 after buying an additional 34,584 shares during the period. Hedge funds and other institutional investors own 17.44% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on EVGO shares. UBS Group upgraded shares of EVgo from a “neutral” rating to a “buy” rating and raised their target price for the company from $4.00 to $8.50 in a research note on Thursday, October 10th. Cantor Fitzgerald reissued an “overweight” rating and issued a $5.00 price objective on shares of EVgo in a research report on Monday, September 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a research report on Wednesday, November 13th. Royal Bank of Canada increased their price target on EVgo from $4.00 to $8.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Finally, Marathon Capitl upgraded shares of EVgo from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently 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.