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

Shares of EVgo, Inc. (NASDAQ:EVGO) have earned a consensus rating of “Buy” from the twelve research firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $6.11.

A number of equities analysts recently commented on EVGO shares. Stifel Nicolaus dropped their price target on shares of EVgo from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $8.00 price target on shares of EVgo in a research note on Wednesday, March 5th. UBS Group dropped their price target on shares of EVgo from $8.00 to $5.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of EVgo from $6.00 to $5.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th.

EVgo Stock Down 0.8 %

Shares of NASDAQ:EVGO opened at $2.56 on Wednesday. EVgo has a 52 week low of $1.65 and a 52 week high of $9.07. The stock has a market capitalization of $784.19 million, a P/E ratio of -6.10 and a beta of 2.37. The firm has a fifty day simple moving average of $3.08 and a two-hundred day simple moving average of $4.80.

EVgo (NASDAQ:EVGO) last released its quarterly earnings results on Tuesday, March 4th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.04. The firm had revenue of $67.51 million for the quarter, compared to analysts’ expectations of $69.49 million. On average, analysts expect that EVgo will post -0.45 earnings per share for the current year.

Insider Activity

In other news, President Dennis G. Kish sold 44,184 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $3.41, for a total value of $150,667.44. Following the completion of the sale, the president now owns 95,986 shares in the company, valued at approximately $327,312.26. The trade was a 31.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 66.96% of the company’s stock.

Institutional Investors Weigh In On EVgo

Large investors have recently modified their holdings of the business. State Street Corp raised its stake in shares of EVgo by 25.3% during the 3rd quarter. State Street Corp now owns 4,192,828 shares of the company’s stock worth $17,358,000 after acquiring an additional 847,777 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of EVgo by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,419,863 shares of the company’s stock worth $10,020,000 after acquiring an additional 90,887 shares in the last quarter. Hussman Strategic Advisors Inc. bought a new position in shares of EVgo during the 4th quarter worth approximately $425,000. Rhumbline Advisers raised its stake in shares of EVgo by 3.2% during the 4th quarter. Rhumbline Advisers now owns 148,541 shares of the company’s stock worth $602,000 after acquiring an additional 4,622 shares in the last quarter. Finally, Verition Fund Management LLC bought a new position in shares of EVgo during the 3rd quarter worth approximately $653,000. Institutional investors 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.