The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. EVgo Inc. shares valued at $2,844 were sold by Sullivan Francine on Aug 10. At $4.74 per share, Sullivan Francine sold 600 shares. The insider’s holdings dropped to 55,246 shares worth approximately $0.21 million following the completion of this transaction.
Also, Shevorenkova Olga sold 17,162 shares, netting a total of over 82,378 in proceeds. Following the sale of shares at $4.80 each, the insider now holds 35,820 shares.
Before that, KISH DENNIS G had sold 37,844 shares from its account. In a trade valued at $185,057, the Chief Operating Officer traded EVgo Inc. shares for $4.89 each. Upon closing the transaction, the insider’s holdings decreased to 37,844 shares, worth approximately $0.0.
As published in their initiating research note from Stifel on May 17, 2023, EVgo Inc. [EVGO] has been a Buy and the price target has been revised to $9. This represents a 58.22% premium over Thursday’s closing price.
Analyzing EVGO Stock Performance
On Thursday, EVgo Inc. [NASDAQ: EVGO] plunged -5.29% to $3.76. The stock’s lowest price that day was $3.73, but it reached a high of $3.97 in the same session. During the last five days, there has been a drop of approximately -10.05%. Over the course of the year, EVgo Inc. shares have dropped approximately -15.88%. Shares of the company reached a 52-week high of $8.16 on 03/31/23 and a 52-week low of $3.45 on 06/23/23. A 50-day SMA is recorded $4.27, while a 200-day SMA reached $5.33. Nevertheless, trading volume fell to 3.36 million shares from 2.69 million shares the previous day.
Support And Resistance Levels for EVgo Inc. (EVGO)
According to the 24-hour chart, there is a support level at 3.67, which, if violated, would cause prices to drop to 3.58. In the upper region, resistance lies at 3.91. The next price resistance is at 4.06. RSI (Relative Strength Index) is 35.04 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.41, which suggests the price will decrease in the coming days. Percent R is at 98.24%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is EVgo Inc. subject to short interest?
Stocks of EVgo Inc. saw a sharp rise in short interest on Jul 30, 2023 jumping by 1.19 million shares to 20.11 million. Data from Yahoo Finance shows that the short interest on Jun 29, 2023 was 18.92 million shares. A jump of 5.92% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 6.79 of the overall float, the days-to-cover ratio (short ratio) jumped to 6.79.
Which companies own the most shares of EVgo Inc. (EVGO)?
According to The Vanguard Group, Inc. filings, the company currently owns 8,941,191 shares, which is about 8.76% of the total EVGO shares outstanding. The investor’s shares have appreciated by 2,501,685 from its previous 13-F filing of 6439506.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $22,631,395. Pictet Asset Management SA acquire a 23.12% interest valued at $14.3 million while Invesco Capital Management LLC purchased a 695,412 stake. A total of 191,400 shares of EVgo Inc. were bought by Banque Pictet & Cie SA during the quarter, and -1,154,276 were sold by SSgA Funds Management, Inc.. In its current portfolio, Geode Capital Management LLC holds 1,560,326 shares valued at $6.82 million.
In terms of EVgo Inc. share price expectations, FactSet research, analysts set an average price target of $6.93 in the next 12 months, up nearly 76.32% from the previous closing price of $3.97. Analysts anticipate EVgo Inc. stock to reach $12.00 by 2023, with the lowest price target being $1.00. In spite of this, 13 analysts ranked EVgo Inc. stock as an Overweight at the end of 2023.