EVgo, Inc. (NYSE:EVGO - Get Free Report)'s stock price dropped 4.9% during trading on Friday . The stock traded as low as $3.17 and last traded at $3.18. Approximately 594,523 shares traded hands during trading, a decline of 88% from the average daily volume of 4,903,525 shares. The stock had previously closed at $3.34.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of EVgo in a research note on Thursday, January 16th. UBS Group dropped their target price on EVgo from $8.00 to $5.00 and set a "buy" rating on the stock in a report on Monday, January 27th. Stifel Nicolaus raised their price target on EVgo from $6.00 to $10.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. dropped their price target on shares of EVgo from $8.00 to $7.00 and set an "overweight" rating on the stock in a research note on Friday, December 20th. Finally, Marathon Capitl upgraded shares of EVgo from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 22nd. Two equities 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 data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $6.22.
View Our Latest Report on EVgo
EVgo Stock Down 6.3 %
The company has a market cap of $829.12 million, a PE ratio of -6.49 and a beta of 2.32. The company's fifty day moving average is $4.32 and its 200-day moving average is $5.02.
EVgo (NYSE:EVGO - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates 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. The business's revenue for the quarter was up 92.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.09) earnings per share. Equities research analysts expect that EVgo, Inc. will post -0.45 EPS for the current fiscal year.
Insider Buying and Selling
In other news, President Dennis G. Kish sold 17,379 shares of the firm's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $4.32, for a total value of $75,077.28. Following the transaction, the president now owns 13,655 shares of the company's stock, valued at $58,989.60. This trade represents 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, Director David Nanus sold 23,000,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $5.00, for a total transaction of $115,000,000.00. Following the completion of the sale, the director now directly owns 5,882,352 shares of the company's stock, valued at $29,411,760. This represents a 79.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,228,288 shares of company stock valued at $116,082,711. 66.96% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in shares of EVgo in the third quarter valued at about $51,000. Creative Planning lifted its holdings in EVgo by 32.7% in the 3rd quarter. Creative Planning now owns 13,365 shares of the company's stock worth $55,000 after purchasing an additional 3,297 shares in the last quarter. Legacy Capital Wealth Partners LLC boosted its stake in EVgo by 31.8% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 14,500 shares of the company's stock worth $60,000 after purchasing an additional 3,500 shares during the period. Clear Harbor Asset Management LLC bought a new stake in shares of EVgo during the fourth quarter valued at approximately $72,000. Finally, Blueshift Asset Management LLC purchased a new position in shares of EVgo in the third quarter worth $80,000. Institutional investors own 17.44% of the company's stock.
About EVgo
(
Get Free Report)
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.
See Also
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