EVgo, Inc. (NYSE:EVGO) Given Average Recommendation of “Buy” by Analysts

Shares of EVgo, Inc. (NYSE:EVGO) have received an average rating of “Buy” from the twelve analysts that are covering the company, Marketbeat Ratings reports. 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 company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $6.61.

Several brokerages recently issued reports on EVGO. Stifel Nicolaus lifted their price target on shares of EVgo from $6.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Marathon Capitl raised shares of EVgo from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. dropped their price target on EVgo from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. UBS Group raised EVgo from a “neutral” rating to a “buy” rating and raised their price objective for the company from $4.00 to $8.50 in a research note on Thursday, October 10th. Finally, Royal Bank of Canada lifted their price target on EVgo from $4.00 to $8.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th.

Insider Activity at EVgo

In related news, President Dennis G. Kish sold 17,379 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was 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 $58,989.60. The trade was a 56.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David Nanus sold 23,000,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $5.00, for a total value of $115,000,000.00. Following the completion of the sale, the director now directly owns 5,882,352 shares of the company’s stock, valued at approximately $29,411,760. This trade represents a 79.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,184,104 shares of company stock worth $115,932,044. Company insiders own 66.96% of the company’s stock.

Institutional Trading of EVgo

Several hedge funds and other institutional investors have recently made changes to their positions in EVGO. Legacy Capital Wealth Partners LLC bought a new stake in shares of EVgo in the 2nd quarter worth $27,000. Point72 DIFC Ltd purchased a new stake in shares of EVgo in the second quarter worth $45,000. International Assets Investment Management LLC purchased a new position in shares of EVgo in the third quarter valued at about $51,000. Creative Planning lifted its holdings in EVgo by 32.7% in the 3rd quarter. Creative Planning now owns 13,365 shares of the company’s stock worth $55,000 after purchasing an additional 3,297 shares in the last quarter. Finally, Blueshift Asset Management LLC bought a new position in EVgo in the 3rd quarter worth approximately $80,000. Hedge funds and other institutional investors own 17.44% of the company’s stock.

EVgo Stock Performance

Shares of EVgo stock opened at $4.46 on Friday. The business’s 50 day simple moving average is $5.68 and its 200 day simple moving average is $4.95. The firm has a market cap of $1.35 billion, a PE ratio of -10.62 and a beta of 2.35. EVgo has a 52-week low of $1.65 and a 52-week high of $9.07.

EVgo (NYSE:EVGO) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The business had revenue of $67.50 million for the quarter, compared to analysts’ expectations of $66.52 million. During the same quarter in the prior year, the company posted ($0.09) EPS. EVgo’s revenue was up 92.3% on a year-over-year basis. As a group, equities research analysts predict that EVgo will post -0.41 EPS for the current year.

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.