Badar Khan Sells 166,725 Shares of EVgo, Inc. (NYSE:EVGO) Stock

EVgo, Inc. (NYSE:EVGO) CEO Badar Khan sold 166,725 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $5.14, for a total transaction of $856,966.50. Following the transaction, the chief executive officer now directly owns 348,761 shares in the company, valued at approximately $1,792,631.54. This represents a 32.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

EVgo Trading Up 0.2 %

Shares of EVGO opened at $5.06 on Friday. The firm’s 50-day moving average price is $6.12 and its 200-day moving average price is $4.06. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of -12.05 and a beta of 2.38. EVgo, Inc. has a 1-year low of $1.65 and a 1-year high of $9.07.

EVgo (NYSE:EVGO) last announced its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The firm had revenue of $67.50 million for the quarter, compared to analysts’ expectations of $66.52 million. During the same quarter last year, the firm earned ($0.09) earnings per share. The company’s quarterly revenue was up 92.3% on a year-over-year basis. On average, research analysts forecast that EVgo, Inc. will post -0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of EVGO. State Street Corp raised its holdings in EVgo by 25.3% in the third quarter. State Street Corp now owns 4,192,828 shares of the company’s stock worth $17,358,000 after buying an additional 847,777 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in EVgo in the second quarter worth about $1,749,000. Marshall Wace LLP raised its holdings in EVgo by 66.4% in the second quarter. Marshall Wace LLP now owns 1,633,304 shares of the company’s stock worth $4,002,000 after buying an additional 651,475 shares during the last quarter. SIR Capital Management L.P. raised its holdings in EVgo by 76.9% in the second quarter. SIR Capital Management L.P. now owns 958,600 shares of the company’s stock worth $2,349,000 after buying an additional 416,800 shares during the last quarter. Finally, HITE Hedge Asset Management LLC grew its stake in shares of EVgo by 105.0% in the third quarter. HITE Hedge Asset Management LLC now owns 413,906 shares of the company’s stock worth $1,714,000 after acquiring an additional 212,004 shares during the period. 17.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on EVGO shares. JPMorgan Chase & Co. raised shares of EVgo from a “neutral” rating to an “overweight” rating and set a $7.00 target price on the stock in a report on Thursday, October 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $5.00 target price on shares of EVgo in a report on Monday, September 30th. Stifel Nicolaus raised their price target on shares of EVgo from $6.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. UBS Group raised shares of EVgo from a “neutral” rating to a “buy” rating and raised their price target for the stock from $4.00 to $8.50 in a report on Thursday, October 10th. Finally, Capital One Financial raised shares of EVgo to a “strong-buy” rating in a report on Monday, September 16th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $6.61.

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.