EVgo (NYSE:EVGO) Posts Earnings Results, Beats Estimates By $0.02 EPS

EVgo (NYSE:EVGO) posted its earnings results on Tuesday. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.02, Briefing.com reports. The company had revenue of $55.16 million during the quarter, compared to analysts’ expectations of $52.41 million. The company’s revenue for the quarter was up 118.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.09) earnings per share.

EVgo Stock Down 1.4 %

Shares of NYSE:EVGO traded down $0.03 during trading on Wednesday, hitting $1.77. The stock had a trading volume of 1,473,939 shares, compared to its average volume of 2,867,650. The stock has a 50-day simple moving average of $2.25 and a two-hundred day simple moving average of $2.61. EVgo has a 12-month low of $1.65 and a 12-month high of $6.20. The stock has a market capitalization of $532.18 million, a price-to-earnings ratio of -3.76 and a beta of 2.53.

Insider Activity at EVgo

In related news, President Dennis G. Kish sold 34,717 shares of EVgo stock in a transaction 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 SEC, which is available at this link. In other EVgo news, CFO Olga Shevorenkova sold 19,363 shares of EVgo stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total value 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 filing with the SEC, which is accessible through this hyperlink. Also, President Dennis G. Kish sold 34,717 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $3.00, for a total value of $104,151.00. The disclosure for this sale can be found here. Insiders sold 56,230 shares of company stock worth $167,409 over the last three months. Company insiders own 66.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on EVGO shares. Cantor Fitzgerald restated a “neutral” rating and set a $5.00 price objective on shares of EVgo in a research note on Thursday, March 7th. Evercore ISI lowered their target price on EVgo from $9.00 to $8.00 and set an “outperform” rating on the stock in a report on Thursday, March 7th. Needham & Company LLC reissued a “hold” rating on shares of EVgo in a research report on Wednesday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $4.00 target price on shares of EVgo in a research note on Friday, April 5th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, EVgo currently has a consensus rating of “Hold” and a consensus target price of $5.19.

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.