EVgo, Inc. (NYSE:EVGO) Given Average Rating of “Moderate Buy” by Brokerages

EVgo, Inc. (NYSE:EVGO) has received an average recommendation of “Moderate Buy” from the ten research firms that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $4.63.

Several equities analysts have weighed in on EVGO shares. Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a report on Thursday, August 29th. UBS Group initiated coverage on EVgo in a research report on Monday, July 22nd. They set a “neutral” rating and a $4.00 target price for the company. Stifel Nicolaus cut their target price on EVgo from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Capital One Financial raised shares of EVgo to a “strong-buy” rating in a report on Monday, September 16th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $5.00 target price on shares of EVgo in a research report on Monday.

EVgo Trading Down 7.2 %

Shares of EVGO stock opened at $3.84 on Wednesday. The stock has a market cap of $1.16 billion, a PE ratio of -10.11 and a beta of 2.59. EVgo has a 12 month low of $1.65 and a 12 month high of $4.80. The company’s fifty day moving average price is $4.01 and its 200-day moving average price is $2.91.

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

Insider Buying and Selling at EVgo

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

Institutional Investors Weigh In On EVgo

Several institutional investors and hedge funds have recently made changes to their positions in EVGO. Vanguard Group Inc. increased its position in EVgo by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 9,698,722 shares of the company’s stock worth $24,344,000 after purchasing an additional 37,168 shares in the last quarter. Wellington Management Group LLP boosted its stake in EVgo by 34.9% in the 4th quarter. Wellington Management Group LLP now owns 3,675,314 shares of the company’s stock worth $13,158,000 after buying an additional 951,272 shares during the last quarter. Voisard Asset Management Group Inc. purchased a new position in shares of EVgo during the 4th quarter worth about $29,000. Bleakley Financial Group LLC acquired a new position in EVgo during the first quarter worth approximately $36,000. Finally, Tidal Investments LLC grew its stake in shares of EVgo by 32.2% during the 1st quarter. Tidal Investments LLC now owns 317,945 shares of the company’s stock valued at $798,000 after buying an additional 77,354 shares during the period. 17.44% of the stock is currently owned by hedge funds and other 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.