EVgo (NYSE:EVGO) Trading 6% Higher

EVgo, Inc. (NYSE:EVGOGet Rating) shares were up 6% during mid-day trading on Wednesday . The company traded as high as $9.23 and last traded at $9.22. Approximately 43,826 shares traded hands during trading, a decline of 98% from the average daily volume of 2,575,239 shares. The stock had previously closed at $8.70.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on EVGO shares. Jefferies Financial Group began coverage on shares of EVgo in a research note on Thursday, July 7th. They set a “hold” rating and a $5.50 price objective on the stock. Capital One Financial raised shares of EVgo from an “equal weight” rating to an “overweight” rating in a report on Wednesday, June 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.44.

EVgo Price Performance

The company has a 50-day moving average of $9.22 and a 200-day moving average of $9.54.

EVgo (NYSE:EVGOGet Rating) last released its earnings results on Tuesday, August 9th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.40). The business had revenue of $9.10 million during the quarter, compared to analysts’ expectations of $10.79 million. The company’s revenue was up 49.2% on a year-over-year basis. Research analysts anticipate that EVgo, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Transactions at EVgo

In related news, insider Caroline Ogata sold 2,493 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $11.52, for a total transaction of $28,719.36. Following the completion of the sale, the insider now directly owns 4,774 shares in the company, valued at approximately $54,996.48. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Catherine Zoi sold 42,083 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $11.52, for a total transaction of $484,796.16. Following the completion of the sale, the chief executive officer now directly owns 57,598 shares in the company, valued at approximately $663,528.96. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Caroline Ogata sold 2,493 shares of the stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $11.52, for a total value of $28,719.36. Following the completion of the transaction, the insider now owns 4,774 shares of the company’s stock, valued at $54,996.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,276 shares of company stock valued at $728,940. 74.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EVgo

Several large investors have recently bought and sold shares of the company. Legal & General Group Plc bought a new position in EVgo in the second quarter valued at about $97,000. SVB Wealth LLC bought a new position in shares of EVgo during the second quarter worth about $75,000. Price T Rowe Associates Inc. MD bought a new position in shares of EVgo during the second quarter worth about $117,000. Centiva Capital LP bought a new position in shares of EVgo during the second quarter worth about $120,000. Finally, Creative Planning raised its position in shares of EVgo by 3.4% during the second quarter. Creative Planning now owns 57,234 shares of the company’s stock worth $344,000 after acquiring an additional 1,904 shares during the last quarter. 13.71% of the stock is currently owned by institutional investors.

About EVgo

(Get Rating)

EVgo, Inc owns and operates a direct current fast charging network 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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