EVgo (NYSE:EVGO) Hits New 1-Year Low at $1.67

EVgo, Inc. (NYSE:EVGO - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $1.67 and last traded at $1.69, with a volume of 920019 shares trading hands. The stock had previously closed at $1.73.

Analyst Upgrades and Downgrades

EVGO has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $4.00 price target on shares of EVgo in a research note on Friday, April 5th. Evercore ISI decreased their price target on shares of EVgo from $9.00 to $8.00 and set an "outperform" rating on the stock in a research note on Thursday, March 7th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $5.00 price target on shares of EVgo in a research note on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, EVgo currently has a consensus rating of "Moderate Buy" and a consensus target price of $5.19.

EVgo Stock Performance

The firm has a market capitalization of $524.64 million, a P/E ratio of -3.70 and a beta of 2.45. The business's fifty day moving average price is $2.40 and its two-hundred day moving average price is $2.69.

EVgo (NYSE:EVGO - Get Free Report) last released its quarterly earnings results on Wednesday, March 6th. The company reported ($0.12) earnings per share for the quarter, beating analysts' consensus estimates of ($0.17) by $0.05. The firm had revenue of $50.00 million during the quarter, compared to the consensus estimate of $44.39 million. The firm's quarterly revenue was up 83.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.06) earnings per share. Sell-side analysts predict that EVgo, Inc. will post -0.37 earnings per share for the current year.

Insider Buying and Selling

In related news, President Dennis G. Kish sold 34,717 shares of EVgo stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $3.00, for a total value of $104,151.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Olga Shevorenkova sold 19,363 shares of EVgo stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $3.00, for a total transaction of $58,089.00. Following the completion of the transaction, the chief financial officer now directly owns 81,991 shares of the company's stock, valued at approximately $245,973. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Dennis G. Kish sold 34,717 shares of EVgo stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $3.00, for a total transaction of $104,151.00. The disclosure for this sale can be found here. Insiders sold 86,002 shares of company stock worth $234,693 in the last three months. Corporate insiders own 66.96% of the company's stock.

Hedge Funds Weigh In On EVgo

Institutional investors have recently made changes to their positions in the company. Voisard Asset Management Group Inc. acquired a new position in EVgo during the fourth quarter worth $29,000. Headlands Technologies LLC acquired a new position in EVgo during the third quarter worth $32,000. Verdence Capital Advisors LLC acquired a new position in EVgo during the third quarter worth $34,000. Sigma Planning Corp acquired a new position in EVgo during the third quarter worth $36,000. Finally, Legacy Capital Wealth Partners LLC purchased a new stake in shares of EVgo during the third quarter worth $37,000. 17.44% of the stock is 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.