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

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

EVgo Trading Down 1.4 %

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

Insider Transactions at EVgo

In related news, President Dennis G. Kish sold 34,717 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $3.00, for a total transaction of $104,151.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Olga Shevorenkova sold 19,363 shares of EVgo 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 $58,089.00. Following the completion of the transaction, the chief financial officer now directly owns 81,991 shares in the company, valued at $245,973. The disclosure for this sale can be found here. Insiders have sold a total of 56,230 shares of company stock valued at $167,409 over the last ninety days. Corporate insiders own 66.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $5.00 price objective on shares of EVgo in a report on Thursday, March 7th. Royal Bank of Canada reissued an “outperform” rating and set a $4.00 price objective on shares of EVgo in a research note on Friday, April 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a research note on Wednesday. Finally, Evercore ISI reduced 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. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, EVgo presently has an average rating of “Hold” and an average price target 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.