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

EVgo, Inc. (NYSE:EVGO) CEO Badar Khan sold 166,725 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $5.14, for a total value of $856,966.50. Following the completion of the transaction, the chief executive officer now directly owns 348,761 shares of the company’s stock, valued at approximately $1,792,631.54. The trade was a 32.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

EVgo Price Performance

Shares of NYSE:EVGO opened at $5.06 on Friday. The firm has a fifty day moving average price of $6.12 and a two-hundred day moving average price of $4.04. The company has a market cap of $1.53 billion, a price-to-earnings ratio of -12.05 and a beta of 2.38. EVgo, Inc. has a one year low of $1.65 and a one year high of $9.07.

EVgo (NYSE:EVGO) last posted its earnings results on Tuesday, November 12th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The company had revenue of $67.50 million during the quarter, compared to analyst estimates of $66.52 million. The firm’s quarterly revenue was up 92.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.09) EPS. Equities research analysts expect that EVgo, Inc. will post -0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On EVgo

A number of hedge funds have recently made changes to their positions in EVGO. Geode Capital Management LLC lifted its stake in EVgo by 3.9% in the third quarter. Geode Capital Management LLC now owns 2,419,863 shares of the company’s stock worth $10,020,000 after purchasing an additional 90,887 shares during the last quarter. Barclays PLC lifted its holdings in shares of EVgo by 280.6% during the third quarter. Barclays PLC now owns 132,981 shares of the company’s stock valued at $551,000 after purchasing an additional 98,041 shares during the last quarter. State Street Corp grew its position in EVgo by 25.3% during the 3rd quarter. State Street Corp now owns 4,192,828 shares of the company’s stock valued at $17,358,000 after purchasing an additional 847,777 shares during the last quarter. Point72 DIFC Ltd increased its holdings in shares of EVgo by 188.2% in the 3rd quarter. Point72 DIFC Ltd now owns 52,965 shares of the company’s stock worth $219,000 after purchasing an additional 34,584 shares in the last quarter. Finally, Maven Securities LTD purchased a new stake in shares of EVgo during the 3rd quarter valued at about $497,000. 17.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on EVGO. Capital One Financial raised EVgo to a “strong-buy” rating in a research note on Monday, September 16th. Marathon Capitl raised EVgo from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $5.00 price objective on shares of EVgo in a research report on Monday, September 30th. Stifel Nicolaus increased their price target on shares of EVgo from $6.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, UBS Group raised shares of EVgo from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $4.00 to $8.50 in a research report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, EVgo has a consensus rating of “Buy” and an average price target of $6.61.

About EVgo

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.