EVgo (NYSE:EVGO) Shares Down 4.5%

Shares of EVgo, Inc. (NYSE:EVGO) traded down 4.5% during mid-day trading on Monday . The stock traded as low as $3.38 and last traded at $3.38. 412,631 shares traded hands during trading, a decline of 87% from the average session volume of 3,117,384 shares. The stock had previously closed at $3.54.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on EVGO shares. Citigroup reduced their price objective on EVgo from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. Royal Bank of Canada reissued an “outperform” rating and set a $4.00 price target on shares of EVgo in a research note on Friday, April 5th. Benchmark boosted their price objective on shares of EVgo from $3.00 to $5.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a report on Wednesday, May 8th. Finally, UBS Group began coverage on shares of EVgo in a research report on Monday. They issued a “neutral” rating and a $4.00 target price on the stock. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $4.29.

EVgo Trading Up 1.4 %

The company has a market capitalization of $1.13 billion, a P/E ratio of -9.87 and a beta of 2.58. The stock’s fifty day moving average is $2.55 and its 200 day moving average is $2.42.

EVgo (NYSE:EVGO) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.02. The firm had revenue of $55.16 million for the quarter, compared to the consensus estimate of $52.41 million. The business’s revenue was up 118.0% on a year-over-year basis. During the same period last year, the company posted ($0.09) earnings per share. On average, analysts expect that EVgo, Inc. will post -0.38 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Badar Khan purchased 125,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average price of $2.01 per share, for a total transaction of $251,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 143,874 shares in the company, valued at approximately $289,186.74. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 66.96% of the company’s stock.

Institutional Trading of EVgo

Several institutional investors and hedge funds have recently bought and sold shares of EVGO. Voisard Asset Management Group Inc. purchased a new position in shares of EVgo during the 4th quarter worth approximately $29,000. Sippican Capital Advisors bought a new position in EVgo in the fourth quarter worth $43,000. Simplicity Wealth LLC purchased a new position in EVgo during the first quarter valued at $36,000. Bleakley Financial Group LLC bought a new stake in shares of EVgo during the 1st quarter valued at $36,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of EVgo in the 4th quarter worth about $580,000. 17.44% of the stock is currently owned by hedge funds and other institutional investors.

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.