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

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

EVgo Stock Performance

EVgo stock traded down $0.12 during midday trading on Friday, hitting $1.87. 1,737,028 shares of the company’s stock were exchanged, compared to its average volume of 2,898,179. EVgo has a 12 month low of $1.65 and a 12 month high of $6.02. The firm has a 50-day moving average of $2.21 and a two-hundred day moving average of $2.60. The company has a market cap of $563.84 million, a PE ratio of -4.23 and a beta of 2.53.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Cantor Fitzgerald raised EVgo from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $5.00 to $4.00 in a report on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a research report on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $4.00 price objective on shares of EVgo in a research report on Friday, April 5th. Evercore ISI decreased their target price on EVgo from $9.00 to $8.00 and set an “outperform” rating on the stock in a research report on Thursday, March 7th. Finally, Citigroup reduced their target price on EVgo from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $4.88.

Insider Buying and Selling at EVgo

In related news, CFO Olga Shevorenkova sold 19,363 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 $58,089.00. Following the sale, the chief financial officer now owns 81,991 shares of the company’s stock, valued at approximately $245,973. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other EVgo news, CFO Olga Shevorenkova sold 19,363 shares of the business’s 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 sale, the chief financial officer now owns 81,991 shares in the company, valued at $245,973. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, President Dennis G. Kish sold 34,717 shares of the stock in a transaction on Wednesday, March 6th. The stock was 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. Over the last ninety days, insiders sold 56,230 shares of company stock valued at $167,409. 66.96% of the stock is currently owned by insiders.

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.