EVgo (NYSE:EVGO) Shares Gap Up to $1.95

Shares of EVgo, Inc. (NYSE:EVGO - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $1.95, but opened at $2.08. EVgo shares last traded at $2.27, with a volume of 2,118,251 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Needham & Company LLC reissued a "hold" rating on shares of EVgo in a research note on Wednesday, May 8th. Cantor Fitzgerald raised EVgo from a "neutral" rating to an "overweight" rating and decreased their target price for the stock from $5.00 to $4.00 in a research note on Thursday, May 9th. Citigroup decreased their target price on EVgo from $3.00 to $2.00 and set a "neutral" rating for the company in a research note on Thursday, May 9th. Evercore ISI decreased their target price on EVgo from $8.00 to $7.00 and set an "outperform" rating for the company in a research note on Monday. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $4.00 target price on shares of EVgo in a research note on Friday, April 5th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $4.75.

EVgo Price Performance

The firm has a fifty day simple moving average of $2.17 and a 200-day simple moving average of $2.60. The firm has a market cap of $684.45 million, a P/E ratio of -5.89 and a beta of 2.53.

EVgo (NYSE:EVGO - Get Free Report) last posted its earnings results on Tuesday, May 7th. The company reported ($0.09) earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.02. The company had revenue of $55.16 million during the quarter, compared to the consensus estimate of $52.41 million. During the same quarter in the prior year, the business earned ($0.09) EPS. The firm's revenue for the quarter was up 118.0% compared to the same quarter last year. On average, equities analysts predict that EVgo, Inc. will post -0.38 earnings per share for the current year.

Insider Activity

In other news, President Dennis G. Kish sold 34,717 shares of the firm's stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total value of $104,151.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, President Dennis G. Kish sold 34,717 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total transaction of $104,151.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Badar Khan purchased 125,000 shares of the firm's stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average cost of $2.01 per share, with a total value of $251,250.00. Following the completion of the transaction, the chief executive officer now directly owns 143,874 shares of the company's stock, valued at approximately $289,186.74. The disclosure for this purchase can be found here. Insiders have sold 56,230 shares of company stock worth $167,409 over the last 90 days. 66.96% of the stock is currently owned by corporate insiders.

Institutional Trading of EVgo

A number of institutional investors and hedge funds have recently modified their holdings of EVGO. Voisard Asset Management Group Inc. purchased a new stake in shares of EVgo during the fourth quarter valued at approximately $29,000. Headlands Technologies LLC purchased a new stake in EVgo in the third quarter worth $32,000. Sigma Planning Corp purchased a new stake in EVgo in the third quarter worth $36,000. Simplicity Wealth LLC purchased a new stake in EVgo in the first quarter worth $36,000. Finally, Bleakley Financial Group LLC purchased a new stake in EVgo in the first quarter worth $36,000. 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.