EVgo (NYSE:EVGO) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

EVgo (NYSE:EVGO) had its price objective lifted by analysts at Stifel Nicolaus from $6.00 to $10.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 27.55% from the stock’s current price.

Several other analysts also recently commented on the stock. Marathon Capitl upgraded shares of EVgo from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. Capital One Financial raised shares of EVgo to a “strong-buy” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. raised EVgo from a “neutral” rating to an “overweight” rating and set a $7.00 price target on the stock in a research note on Thursday, October 3rd. Benchmark upped their price objective on EVgo from $3.00 to $5.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Finally, TD Cowen raised EVgo from a “hold” rating to a “buy” rating and lifted their target price for the company from $5.00 to $7.00 in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $6.61.

EVgo Stock Performance

EVGO opened at $7.84 on Wednesday. The firm’s fifty day moving average is $5.72 and its two-hundred day moving average is $3.71. The firm has a market cap of $2.37 billion, a PE ratio of -19.60 and a beta of 2.58. EVgo has a twelve month low of $1.65 and a twelve month high of $9.07.

EVgo (NYSE:EVGO) last posted its earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The business had revenue of $66.62 million during the quarter, compared to analyst estimates of $59.40 million. During the same period in the previous year, the firm posted ($0.08) earnings per share. The firm’s revenue was up 31.8% on a year-over-year basis. Equities analysts forecast that EVgo will post -0.4 EPS for the current fiscal year.

Insider Buying and Selling

In other EVgo news, President Dennis G. Kish sold 16,414 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $3.60, for a total transaction of $59,090.40. Following the sale, the president now directly owns 47,614 shares in the company, valued at $171,410.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Francine Sullivan sold 12,584 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $3.60, for a total transaction of $45,302.40. Following the completion of the transaction, the insider now owns 117,327 shares of the company’s stock, valued at approximately $422,377.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Dennis G. Kish sold 16,414 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $3.60, for a total value of $59,090.40. Following the completion of the sale, the president now directly owns 47,614 shares in the company, valued at $171,410.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 66.96% of the stock is owned by company insiders.

Hedge Funds Weigh In On EVgo

Large investors have recently bought and sold shares of the company. Point72 Asset Management L.P. bought a new position in EVgo in the 2nd quarter valued at approximately $1,749,000. Marshall Wace LLP increased its holdings in EVgo by 66.4% in the second quarter. Marshall Wace LLP now owns 1,633,304 shares of the company’s stock valued at $4,002,000 after purchasing an additional 651,475 shares during the period. SIR Capital Management L.P. increased its holdings in EVgo by 76.9% in the second quarter. SIR Capital Management L.P. now owns 958,600 shares of the company’s stock valued at $2,349,000 after purchasing an additional 416,800 shares during the period. HITE Hedge Asset Management LLC acquired a new position in EVgo during the 2nd quarter worth about $495,000. Finally, Squarepoint Ops LLC acquired a new position in EVgo during the 2nd quarter worth about $495,000. 17.44% of the stock is currently owned by institutional investors.

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.