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

Shares of EVgo, Inc. (NYSE:EVGO) have been given a consensus recommendation of “Buy” by the twelve analysts that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $6.61.

A number of research analysts have recently commented on EVGO shares. 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 report on Friday, December 20th. Cantor Fitzgerald reiterated an “overweight” rating and set a $5.00 target price on shares of EVgo in a research report on Monday, September 30th. Marathon Capitl raised shares of EVgo from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Capital One Financial raised shares of EVgo to a “strong-buy” rating in a report on Monday, September 16th. Finally, Royal Bank of Canada boosted their target price on shares of EVgo from $4.00 to $8.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th.

Insider Buying and Selling at EVgo

In other news, CEO Badar Khan sold 166,725 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $5.14, for a total value of $856,966.50. Following the transaction, the chief executive officer now owns 348,761 shares of the company’s stock, valued at $1,792,631.54. This represents a 32.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Dennis G. Kish sold 17,379 shares of EVgo stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $4.32, for a total transaction of $75,077.28. Following the sale, the president now directly owns 13,655 shares of the company’s stock, valued at $58,989.60. This represents a 56.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,184,104 shares of company stock valued at $115,932,044 in the last 90 days. Corporate insiders own 66.96% of the company’s stock.

Institutional Investors Weigh In On EVgo

Large investors have recently added to or reduced their stakes in the company. Tidal Investments LLC raised its holdings in shares of EVgo by 714.2% during the 3rd quarter. Tidal Investments LLC now owns 94,541 shares of the company’s stock valued at $391,000 after buying an additional 82,929 shares in the last quarter. Barclays PLC lifted its holdings in shares of EVgo by 280.6% in the 3rd quarter. Barclays PLC now owns 132,981 shares of the company’s stock worth $551,000 after acquiring an additional 98,041 shares during the last quarter. Geode Capital Management LLC raised its position in EVgo by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,419,863 shares of the company’s stock worth $10,020,000 after purchasing an additional 90,887 shares during the period. State Street Corp increased its holdings in shares of EVgo by 25.3% in the third quarter. State Street Corp now owns 4,192,828 shares of the company’s stock worth $17,358,000 after buying an additional 847,777 shares during the period. Finally, Point72 DIFC Ltd increased its stake in EVgo by 188.2% in the 3rd quarter. Point72 DIFC Ltd now owns 52,965 shares of the company’s stock worth $219,000 after purchasing an additional 34,584 shares during the period. Hedge funds and other institutional investors own 17.44% of the company’s stock.

EVgo Stock Performance

NYSE EVGO opened at $4.13 on Friday. The company has a market capitalization of $1.25 billion, a PE ratio of -9.83 and a beta of 2.35. EVgo has a 52-week low of $1.65 and a 52-week high of $9.07. The company has a 50-day simple moving average of $5.52 and a 200 day simple moving average of $4.94.

EVgo (NYSE:EVGO) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The firm had revenue of $67.50 million for the quarter, compared to the consensus estimate of $66.52 million. During the same period in the prior year, the firm posted ($0.09) EPS. The firm’s revenue was up 92.3% compared to the same quarter last year. As a group, analysts forecast that EVgo will post -0.41 EPS for the current fiscal year.

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.