EVgo (NYSE:EVGO) Shares Down 5% - Should You Sell?

Shares of EVgo, Inc. (NYSE:EVGO - Get Free Report) traded down 5% during mid-day trading on Monday . The company traded as low as $7.56 and last traded at $7.57. 3,943,660 shares changed hands during mid-day trading, a decline of 8% from the average session volume of 4,303,499 shares. The stock had previously closed at $7.97.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus increased their price objective on shares of EVgo from $6.00 to $10.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Cantor Fitzgerald restated an "overweight" rating and issued a $5.00 price objective on shares of EVgo in a research report on Monday, September 30th. Benchmark raised their target price on shares of EVgo from $3.00 to $5.00 and gave the company a "buy" rating in a research note on Friday, July 12th. Capital One Financial raised shares of EVgo to a "strong-buy" rating in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. raised shares of EVgo from a "neutral" rating to an "overweight" rating and set a $7.00 price objective on the stock in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $6.61.

EVgo Stock Down 6.1 %

The stock's fifty day moving average is $5.86 and its two-hundred day moving average is $3.82. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -18.70 and a beta of 2.37.

EVgo (NYSE:EVGO - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.01. The company had revenue of $66.62 million during the quarter, compared to analyst estimates of $59.40 million. EVgo's revenue for the quarter was up 31.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. As a group, analysts anticipate that EVgo, Inc. will post -0.4 EPS for the current year.

Insiders Place Their Bets

In related 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 in the company, valued at $422,377.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Francine Sullivan sold 12,584 shares of EVgo stock in a transaction 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 owns 117,327 shares of the company's stock, valued at approximately $422,377.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Dennis G. Kish sold 16,414 shares of EVgo 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 completion of the sale, the president now directly owns 47,614 shares of the company's stock, valued at approximately $171,410.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 66.96% of the company's stock.

Institutional Trading of EVgo

Hedge funds and other institutional investors have recently bought and sold shares of the company. Legacy Capital Wealth Partners LLC bought a new stake in EVgo in the second quarter valued at approximately $27,000. Bleakley Financial Group LLC purchased a new stake in shares of EVgo during the first quarter valued at $36,000. SG Americas Securities LLC bought a new position in EVgo in the first quarter valued at about $41,000. Point72 DIFC Ltd bought a new position in EVgo in the second quarter valued at about $45,000. Finally, International Assets Investment Management LLC bought a new position in EVgo in the third quarter valued at about $51,000. 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.