EVgo (NYSE:EVGO) Research Coverage Started at UBS Group

UBS Group started coverage on shares of EVgo (NYSE:EVGO) in a research report report published on Monday morning, Marketbeat.com reports. The brokerage issued a neutral rating and a $4.00 target price on the stock.

A number of other equities research analysts have also recently commented on EVGO. Citigroup lowered their price target on shares of EVgo from $3.00 to $2.00 and set a neutral rating on the stock in a report on Thursday, May 9th. Royal Bank of Canada reiterated an outperform rating and issued a $4.00 price objective on shares of EVgo in a research note on Friday, April 5th. Needham & Company LLC reiterated a hold rating on shares of EVgo in a research note on Wednesday, May 8th. Evercore ISI reduced their price objective on shares of EVgo from $8.00 to $7.00 and set an outperform rating for the company in a research note on Monday, May 13th. Finally, Benchmark lifted their price objective on shares of EVgo from $3.00 to $5.00 and gave the company a buy rating in a research note on Friday, July 12th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $4.29.

EVgo Stock Up 1.4 %

EVgo stock opened at $3.75 on Monday. EVgo has a 52 week low of $1.65 and a 52 week high of $5.95. The company’s 50 day moving average price is $2.55 and its two-hundred day moving average price is $2.42. The stock has a market cap of $1.13 billion, a P/E ratio of -9.87 and a beta of 2.58.

EVgo (NYSE:EVGO) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The company had revenue of $55.16 million during the quarter, compared to the consensus estimate of $52.41 million. The company’s revenue for the quarter was up 118.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.09) EPS. On average, equities analysts anticipate that EVgo will post -0.38 EPS for the current year.

Insider Activity

In other news, CEO Badar Khan purchased 125,000 shares of EVgo stock in a transaction dated Monday, May 13th. The stock was purchased at an average cost of $2.01 per share, for a total transaction of $251,250.00. Following the transaction, the chief executive officer now directly owns 143,874 shares of the company’s stock, valued at $289,186.74. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 66.96% of the company’s stock.

Institutional Trading of EVgo

Hedge funds have recently made changes to their positions in the stock. Voisard Asset Management Group Inc. bought a new stake in shares of EVgo during the 4th quarter worth $29,000. Sippican Capital Advisors bought a new stake in shares of EVgo during the 4th quarter worth $43,000. Simplicity Wealth LLC bought a new stake in shares of EVgo during the 1st quarter worth $36,000. Bleakley Financial Group LLC bought a new stake in shares of EVgo during the 1st quarter worth $36,000. Finally, International Assets Investment Management LLC bought a new stake in shares of EVgo during the 4th quarter worth $580,000. 17.44% of the stock is 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.