EVgo, Inc. (NYSE:EVGO) Receives $6.11 Average Price Target from Analysts

EVgo, Inc. (NYSE:EVGO) has been given a consensus recommendation of “Buy” by the twelve analysts that are presently 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 1 year target price among brokerages that have issued a report on the stock in the last year is $6.11.

EVGO has been the subject of several recent analyst reports. UBS Group decreased their price objective on shares of EVgo from $8.00 to $5.00 and set a “buy” rating for the company in a report on Monday, January 27th. JPMorgan Chase & Co. decreased their price objective on shares of EVgo from $7.00 to $6.00 and set an “overweight” rating for the company in a report on Wednesday, February 19th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a report on Thursday, January 16th.

EVgo Price Performance

EVgo stock opened at $2.65 on Friday. The firm has a 50 day simple moving average of $3.50 and a 200-day simple moving average of $4.92. The stock has a market capitalization of $803.35 million, a PE ratio of -6.31 and a beta of 2.32. EVgo has a 12-month low of $1.65 and a 12-month high of $9.07.

Insider Activity at EVgo

In related news, President Dennis G. Kish sold 17,379 shares of the company’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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Nanus sold 23,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $5.00, for a total transaction of $115,000,000.00. Following the completion of the sale, the director now 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 90 days, insiders sold 23,061,563 shares of company stock worth $115,225,745. 66.96% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Creative Planning increased its stake in EVgo by 32.7% in the 3rd quarter. Creative Planning now owns 13,365 shares of the company’s stock valued at $55,000 after buying an additional 3,297 shares during the period. Legacy Capital Wealth Partners LLC increased its stake in EVgo by 31.8% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 14,500 shares of the company’s stock valued at $60,000 after buying an additional 3,500 shares during the period. Price T Rowe Associates Inc. MD increased its stake in EVgo by 5.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 86,588 shares of the company’s stock valued at $351,000 after buying an additional 4,597 shares during the period. Rhumbline Advisers increased its stake in EVgo by 3.2% in the 4th quarter. Rhumbline Advisers now owns 148,541 shares of the company’s stock valued at $602,000 after buying an additional 4,622 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in EVgo by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 298,794 shares of the company’s stock valued at $1,210,000 after buying an additional 5,377 shares during the period. Institutional investors and hedge funds own 17.44% 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.