EVgo (NYSE:EVGO) Stock Price Up 9.1%

EVgo, Inc. (NYSE:EVGO - Get Free Report) shares rose 9.1% on Friday . The stock traded as high as $4.17 and last traded at $4.08. Approximately 2,210,012 shares were traded during trading, a decline of 30% from the average daily volume of 3,143,172 shares. The stock had previously closed at $3.74.

Analysts Set New Price Targets

EVGO has been the subject of several research analyst reports. Cantor Fitzgerald restated an "overweight" rating and set a $5.00 price target on shares of EVgo in a research report on Monday. Benchmark upped their price target on shares of EVgo from $3.00 to $5.00 and gave the stock a "buy" rating in a research report on Friday, July 12th. UBS Group initiated coverage on shares of EVgo in a report on Monday, July 22nd. They issued a "neutral" rating and a $4.00 price objective for the company. Citigroup cut their price objective on shares of EVgo from $3.00 to $2.00 and set a "neutral" rating for the company in a report on Thursday, May 9th. Finally, Stifel Nicolaus cut their price objective on shares of EVgo from $7.00 to $6.00 and set a "buy" rating for the company in a report on Tuesday, August 6th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $4.63.

EVgo Stock Performance

The stock has a market cap of $1.27 billion, a PE ratio of -11.08 and a beta of 2.58. The stock's 50-day moving average is $3.22 and its two-hundred day moving average is $2.58.

EVgo (NYSE:EVGO - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) earnings per share for the quarter, topping analysts' consensus estimates of ($0.11) by $0.01. The company had revenue of $66.62 million for the quarter, compared to analysts' expectations of $59.40 million. The business's revenue for the quarter was up 31.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.08) EPS. Analysts forecast that EVgo, Inc. will post -0.38 EPS for the current year.

Insider Buying and Selling at EVgo

In other EVgo news, President Dennis G. Kish sold 16,414 shares of the firm'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 value of $59,090.40. Following the completion of the transaction, the president now owns 47,614 shares of the company's stock, valued at approximately $171,410.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other EVgo news, insider Francine Sullivan sold 12,584 shares of the firm'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 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 approximately $422,377.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Dennis G. Kish sold 16,414 shares of the firm'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 completion of the transaction, the president now directly owns 47,614 shares of the company's stock, valued at approximately $171,410.40. The disclosure for this sale can be found here. Insiders sold 31,475 shares of company stock valued at $110,189 in the last 90 days. Company insiders own 66.96% of the company's stock.

Institutional Investors Weigh In On EVgo

Hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP grew its position in EVgo by 34.9% during the 4th quarter. Wellington Management Group LLP now owns 3,675,314 shares of the company's stock worth $13,158,000 after purchasing an additional 951,272 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in EVgo during the 2nd quarter worth $1,749,000. Marshall Wace LLP boosted its holdings in shares of EVgo by 66.4% in the second quarter. Marshall Wace LLP now owns 1,633,304 shares of the company's stock valued at $4,002,000 after acquiring an additional 651,475 shares in the last quarter. SIR Capital Management L.P. boosted its holdings in shares of EVgo by 76.9% in the second quarter. SIR Capital Management L.P. now owns 958,600 shares of the company's stock valued at $2,349,000 after acquiring an additional 416,800 shares in the last quarter. Finally, HITE Hedge Asset Management LLC purchased a new stake in shares of EVgo in the second quarter valued at about $495,000. 17.44% of the stock is currently owned by institutional investors and hedge funds.

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.