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

EVgo (NYSE:EVGO) issued its quarterly earnings results on Tuesday. The company reported ($0.09) earnings per share (EPS) for the quarter, beating 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 quarter last year, the business posted ($0.09) earnings per share. The firm’s revenue for the quarter was up 118.0% compared to the same quarter last year.

EVgo Trading Down 1.4 %

EVGO traded down $0.03 on Wednesday, hitting $1.77. 1,689,375 shares of the stock traded hands, compared to its average volume of 2,870,663. EVgo has a 52 week low of $1.65 and a 52 week high of $6.20. The firm has a market capitalization of $532.18 million, a PE ratio of -3.76 and a beta of 2.53. The business has a fifty day moving average price of $2.25 and a two-hundred day moving average price of $2.61.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Evercore ISI decreased 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $4.00 target price on shares of EVgo in a research report on Friday, April 5th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $5.00 target price on shares of EVgo in a research report on Thursday, March 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a research report on Wednesday. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $5.19.

Insider Activity at EVgo

In other EVgo news, President Dennis G. Kish sold 34,717 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 transaction of $104,151.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other EVgo news, President Dennis G. Kish sold 34,717 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 transaction of $104,151.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Olga Shevorenkova sold 19,363 shares of EVgo stock in a transaction that occurred 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 directly owns 81,991 shares in the company, valued at $245,973. The disclosure for this sale can be found here. Insiders have 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.

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.