EVgo (NASDAQ:EVGO) Issues Quarterly Earnings Results

EVgo (NASDAQ:EVGO) released its quarterly earnings results on Tuesday. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.04, Zacks reports. EVgo updated its FY 2025 guidance to EPS.

EVgo Stock Performance

Shares of EVGO opened at $2.44 on Tuesday. The company has a market capitalization of $739.69 million, a P/E ratio of -5.81 and a beta of 2.32. EVgo has a one year low of $1.65 and a one year high of $9.07. The stock has a 50-day moving average price of $3.47 and a 200 day moving average price of $4.93.

Insider Activity at EVgo

In other EVgo news, Director David Nanus sold 23,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $5.00, for a total transaction of $115,000,000.00. Following the sale, the director now owns 5,882,352 shares in the company, valued at $29,411,760. This represents a 79.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Dennis G. Kish sold 17,379 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $4.32, for a total value of $75,077.28. Following the completion of the sale, the president now owns 13,655 shares in the company, valued at approximately $58,989.60. This represents a 56.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,061,563 shares of company stock valued at $115,225,745. Insiders own 66.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. UBS Group cut their price target on EVgo from $8.00 to $5.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. decreased their price target on EVgo from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $6.11.

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.