EVgo Inc. (NASDAQ:EVGO - Get Free Report)'s stock price was down 5.8% during trading on Friday . The company traded as low as $3.69 and last traded at $3.71. Approximately 3,203,252 shares were traded during mid-day trading, a decline of 29% from the average daily volume of 4,517,917 shares. The stock had previously closed at $3.94.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on EVGO shares. JPMorgan Chase & Co. restated an "overweight" rating on shares of EVgo in a research report on Thursday, May 8th. Roth Capital reaffirmed a "buy" rating on shares of EVgo in a research report on Wednesday, May 7th. Morgan Stanley set a $4.00 target price on shares of EVgo and gave the company an "equal weight" rating in a research report on Tuesday, June 3rd. Cantor Fitzgerald restated an "overweight" rating and issued a $8.00 target price on shares of EVgo in a research report on Wednesday, March 5th. Finally, Evercore ISI reduced their price objective on EVgo from $7.00 to $4.00 and set an "outperform" rating for the company in a research note on Monday, March 31st. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $6.00.
Check Out Our Latest Stock Analysis on EVGO
EVgo Stock Performance
The stock has a market cap of $1.12 billion, a PE ratio of -8.88 and a beta of 2.41. The stock's 50-day moving average is $3.64 and its two-hundred day moving average is $3.45.
EVgo (NASDAQ:EVGO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.02. The firm had revenue of $75.29 million during the quarter, compared to analysts' expectations of $70.11 million. EVgo's quarterly revenue was up 36.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.09) EPS. Analysts forecast that EVgo Inc. will post -0.45 EPS for the current year.
Insiders Place Their Bets
In related news, President Dennis G. Kish sold 73,215 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $3.69, for a total transaction of $270,163.35. Following the completion of the transaction, the president now owns 72,269 shares in the company, valued at approximately $266,672.61. The trade was a 50.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 58.79% of the stock is owned by company insiders.
Institutional Investors Weigh In On EVgo
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers lifted its holdings in shares of EVgo by 3.2% in the 4th quarter. Rhumbline Advisers now owns 148,541 shares of the company's stock valued at $602,000 after purchasing an additional 4,622 shares during the last quarter. New York State Common Retirement Fund lifted its stake in EVgo by 70.6% in the fourth quarter. New York State Common Retirement Fund now owns 31,173 shares of the company's stock valued at $126,000 after buying an additional 12,900 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of EVgo by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 298,794 shares of the company's stock valued at $1,210,000 after acquiring an additional 5,377 shares during the period. Aigen Investment Management LP purchased a new position in shares of EVgo during the fourth quarter worth approximately $160,000. Finally, Arizona State Retirement System acquired a new position in shares of EVgo in the 4th quarter valued at $120,000. 17.44% of the stock is owned by hedge funds and other institutional investors.
About EVgo
(
Get Free Report)
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.
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