EVgo (NYSE:EVGO) Reaches New 1-Year High at $4.80

EVgo, Inc. (NYSE:EVGO - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $4.80 and last traded at $4.67, with a volume of 231953 shares traded. The stock had previously closed at $4.70.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Capital One Financial raised EVgo to a "strong-buy" rating in a report on Monday. 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 report on Tuesday, August 6th. Benchmark increased their price objective on shares of EVgo from $3.00 to $5.00 and gave the company a "buy" rating in a report on Friday, July 12th. UBS Group initiated coverage on EVgo in a research report on Monday, July 22nd. They set a "neutral" rating and a $4.00 price target on the stock. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $5.00 price objective on shares of EVgo in a report on Monday, September 9th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $4.63.

EVgo Stock Performance

The firm has a market capitalization of $1.33 billion, a P/E ratio of -11.71 and a beta of 2.59. The firm has a 50 day moving average price of $3.91 and a two-hundred day moving average price of $2.81.

EVgo (NYSE:EVGO - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $66.62 million for the quarter, compared to analyst estimates of $59.40 million. During the same quarter in the previous year, the firm posted ($0.08) EPS. EVgo's quarterly revenue was up 31.8% on a year-over-year basis. Equities research analysts forecast that EVgo, Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Activity at EVgo

In other EVgo news, President Dennis G. Kish sold 16,414 shares of the business's stock in a transaction on Monday, August 12th. The shares were sold at an average price of $3.60, for a total transaction of $59,090.40. Following the sale, the president now directly owns 47,614 shares of the company's stock, valued at approximately $171,410.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Francine Sullivan sold 12,584 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $3.60, for a total value of $45,302.40. Following the completion of the sale, the insider now directly owns 117,327 shares of the company's stock, valued at $422,377.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Dennis G. Kish sold 16,414 shares of the business's stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $3.60, for a total transaction of $59,090.40. Following the transaction, the president now directly owns 47,614 shares in the company, valued at $171,410.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,475 shares of company stock worth $110,189. 66.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On EVgo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legacy Capital Wealth Partners LLC acquired a new position in shares of EVgo in the second quarter worth $27,000. Voisard Asset Management Group Inc. purchased a new stake in shares of EVgo during the 4th quarter worth about $29,000. Simplicity Wealth LLC acquired a new stake in shares of EVgo during the 1st quarter valued at about $36,000. Bleakley Financial Group LLC bought a new stake in shares of EVgo in the 1st quarter valued at approximately $36,000. Finally, SG Americas Securities LLC acquired a new position in EVgo in the first quarter worth approximately $41,000. Hedge funds and other institutional investors own 17.44% of the company's stock.

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.