Insider Selling: EVgo, Inc. (NYSE:EVGO) Insider Sells 12,584 Shares of Stock

EVgo, Inc. (NYSE:EVGO) insider Francine Sullivan sold 12,584 shares of EVgo stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $3.60, for a total value of $45,302.40. Following the sale, the insider now owns 117,327 shares of the company’s stock, valued at approximately $422,377.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

EVgo Price Performance

EVGO opened at $3.70 on Friday. EVgo, Inc. has a 1 year low of $1.65 and a 1 year high of $4.70. The stock’s 50 day simple moving average is $3.05 and its 200 day simple moving average is $2.53. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -9.74 and a beta of 2.58.

EVgo (NYSE:EVGO) last issued its earnings results on Thursday, August 1st. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.01. The firm had revenue of $66.62 million during the quarter, compared to analysts’ expectations of $59.40 million. The firm’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.08) earnings per share. As a group, sell-side analysts anticipate that EVgo, Inc. will post -0.38 EPS for the current year.

Institutional Trading of EVgo

Institutional investors have recently modified their holdings of the company. Wellington Management Group LLP raised 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 valued at $13,158,000 after purchasing an additional 951,272 shares during the last quarter. Marshall Wace LLP increased its stake in shares of EVgo by 66.4% during the second quarter. Marshall Wace LLP now owns 1,633,304 shares of the company’s stock valued at $4,002,000 after buying an additional 651,475 shares during the period. SIR Capital Management L.P. raised its holdings in shares of EVgo by 76.9% during 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. HITE Hedge Asset Management LLC purchased a new stake in EVgo in the second quarter worth $495,000. Finally, Squarepoint Ops LLC purchased a new position in EVgo during the 2nd quarter valued at $495,000. 17.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Benchmark upped their price objective 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. Evercore ISI decreased their price objective on shares of EVgo from $8.00 to $7.00 and set an “outperform” rating on the stock in a research report on Monday, May 13th. Citigroup decreased their price objective on shares of EVgo from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. Needham & Company LLC restated a “hold” rating on shares of EVgo in a research report on Friday, August 2nd. Finally, Stifel Nicolaus decreased their price objective 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. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, EVgo presently has a consensus rating of “Moderate Buy” and an average price target of $4.63.

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.