Analysts Set EVgo, Inc. (NYSE:EVGO) Target Price at $6.61

Shares of EVgo, Inc. (NYSE:EVGO) have been assigned a consensus recommendation of “Buy” from the twelve brokerages that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $6.61.

A number of analysts have commented on EVGO shares. Stifel Nicolaus upped their target price on shares of EVgo from $6.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Marathon Capitl upgraded EVgo from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. TD Cowen upgraded EVgo from a “hold” rating to a “buy” rating and lifted their target price for the company from $5.00 to $7.00 in a research report on Thursday, October 3rd. JPMorgan Chase & Co. upgraded EVgo from a “neutral” rating to an “overweight” rating and set a $7.00 price target for the company in a research report on Thursday, October 3rd. Finally, UBS Group raised EVgo from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $4.00 to $8.50 in a research report on Thursday, October 10th.

Insiders Place Their Bets

In other news, CEO Badar Khan sold 166,725 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $5.14, for a total transaction of $856,966.50. Following the transaction, the chief executive officer now owns 348,761 shares of the company’s stock, valued at approximately $1,792,631.54. The trade was a 32.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 66.96% of the company’s stock.

Institutional Trading of EVgo

Institutional investors have recently added to or reduced their stakes in the company. Legacy Capital Wealth Partners LLC bought a new stake in shares of EVgo during the second quarter worth $27,000. Bleakley Financial Group LLC bought a new stake in EVgo during the 1st quarter valued at about $36,000. SG Americas Securities LLC purchased a new stake in EVgo in the 1st quarter valued at about $41,000. Point72 DIFC Ltd bought a new position in EVgo in the 2nd quarter worth about $45,000. Finally, International Assets Investment Management LLC purchased a new position in shares of EVgo during the third quarter worth approximately $51,000. Institutional investors own 17.44% of the company’s stock.

EVgo Price Performance

EVgo stock opened at $5.06 on Thursday. EVgo has a one year low of $1.65 and a one year high of $9.07. The business’s fifty day moving average is $6.12 and its 200 day moving average is $4.06. The stock has a market capitalization of $1.53 billion, a PE ratio of -12.05 and a beta of 2.38.

EVgo (NYSE:EVGO) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The company had revenue of $67.50 million for the quarter, compared to the consensus estimate of $66.52 million. During the same quarter last year, the business posted ($0.09) EPS. The firm’s revenue for the quarter was up 92.3% compared to the same quarter last year. As a group, sell-side analysts expect that EVgo will post -0.4 EPS for the current fiscal year.

About EVgo

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.