EVgo (NYSE:EVGO) Shares Down 3.8% - Should You Sell?

EVgo, Inc. (NYSE:EVGO - Get Free Report) was down 3.8% during trading on Wednesday . The stock traded as low as $3.15 and last traded at $3.19. Approximately 564,719 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 5,282,288 shares. The stock had previously closed at $3.31.

Wall Street Analyst Weigh In

A number of analysts have recently commented on EVGO shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $5.00 price target on shares of EVgo in a research note on Monday, September 30th. TD Cowen upgraded shares of EVgo from a "hold" rating to a "buy" rating and boosted their target price for the company from $5.00 to $7.00 in a research note on Thursday, October 3rd. Marathon Capitl raised EVgo from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 22nd. UBS Group raised EVgo from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $4.00 to $8.50 in a report on Thursday, October 10th. Finally, Royal Bank of Canada increased their target price on EVgo from $4.00 to $8.00 and gave the company an "outperform" rating in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, EVgo presently has a consensus rating of "Buy" and an average target price of $6.61.

EVgo Trading Down 5.0 %

The stock has a 50 day simple moving average of $5.08 and a 200-day simple moving average of $5.04. The firm has a market cap of $953.41 million, a PE ratio of -7.49 and a beta of 2.35.

EVgo (NYSE:EVGO - Get Free Report) last released 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 company had revenue of $67.50 million during the quarter, compared to analysts' expectations of $66.52 million. During the same period in the prior year, the company earned ($0.09) EPS. The company's quarterly revenue was up 92.3% compared to the same quarter last year. On average, equities research analysts expect that EVgo, Inc. will post -0.45 EPS for the current year.

Insider Buying and Selling at EVgo

In other EVgo news, President Dennis G. Kish sold 17,379 shares of EVgo stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $4.32, for a total transaction of $75,077.28. Following the completion of the transaction, the president now directly owns 13,655 shares of the company's stock, valued at $58,989.60. The trade was a 56.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Badar Khan sold 166,725 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $5.14, for a total transaction of $856,966.50. Following the completion of the sale, the chief executive officer now directly owns 348,761 shares in the company, valued at approximately $1,792,631.54. This represents a 32.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,184,104 shares of company stock valued at $115,932,044 in the last 90 days. Insiders own 66.96% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Clear Harbor Asset Management LLC bought a new stake in shares of EVgo in the fourth quarter valued at about $72,000. Tidal Investments LLC boosted its stake in shares of EVgo by 714.2% during the third quarter. Tidal Investments LLC now owns 94,541 shares of the company's stock valued at $391,000 after purchasing an additional 82,929 shares in the last quarter. Barclays PLC increased its holdings in EVgo by 280.6% during the third quarter. Barclays PLC now owns 132,981 shares of the company's stock valued at $551,000 after buying an additional 98,041 shares during the period. Geode Capital Management LLC raised its stake in EVgo by 3.9% in 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. Finally, State Street Corp lifted 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 during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.