EVgo, Inc. (NYSE:EVGO) CEO Sells $856,966.50 in Stock

EVgo, Inc. (NYSE:EVGO) CEO Badar Khan sold 166,725 shares of EVgo stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $5.14, for a total transaction of $856,966.50. Following the completion of the sale, the chief executive officer now owns 348,761 shares of the company’s stock, valued at $1,792,631.54. This represents a 32.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

EVgo Price Performance

EVGO opened at $5.06 on Friday. EVgo, Inc. has a 1-year low of $1.65 and a 1-year high of $9.07. The company has a 50 day simple moving average of $6.12 and a two-hundred day simple moving average of $4.06. The firm has a market cap of $1.53 billion, a P/E ratio of -12.05 and a beta of 2.38.

EVgo (NYSE:EVGO) last released its earnings results on Tuesday, November 12th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The firm had revenue of $67.50 million for the quarter, compared to analysts’ expectations of $66.52 million. During the same quarter in the previous year, the business earned ($0.09) earnings per share. The business’s quarterly revenue was up 92.3% on a year-over-year basis. Equities analysts anticipate that EVgo, Inc. will post -0.4 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on EVGO. Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a research note on Wednesday. Marathon Capitl upgraded shares of EVgo from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Capital One Financial upgraded shares of EVgo to a “strong-buy” rating in a research report on Monday, September 16th. Royal Bank of Canada boosted their target price on shares of EVgo from $4.00 to $8.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. upgraded shares of EVgo from a “neutral” rating to an “overweight” rating and set a $7.00 target price for the company in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $6.61.

Hedge Funds Weigh In On EVgo

Several hedge funds have recently modified their holdings of EVGO. Legacy Capital Wealth Partners LLC purchased a new stake in EVgo during the second quarter valued at $27,000. Bleakley Financial Group LLC purchased a new stake in EVgo during the first quarter valued at $36,000. SG Americas Securities LLC purchased a new stake in EVgo during the first quarter valued at $41,000. Point72 DIFC Ltd purchased a new stake in EVgo during the second quarter valued at $45,000. Finally, International Assets Investment Management LLC purchased a new stake in EVgo during the third quarter valued at $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.