EVgo, Inc. (NYSE:EVGO) Receives Average Rating of “Buy” from Analysts

EVgo, Inc. (NYSE:EVGO) has earned a consensus rating of “Buy” from the twelve research firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $6.11.

EVGO has been the topic of several recent analyst reports. Stifel Nicolaus increased their target price on EVgo from $6.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a research report on Thursday, January 16th. UBS Group reduced their price objective on EVgo from $8.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. reduced their price objective on EVgo from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Wednesday.

Insider Buying and Selling

In other EVgo news, President Dennis G. Kish sold 44,184 shares of EVgo stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $3.41, for a total transaction of $150,667.44. Following the sale, the president now directly owns 95,986 shares in the company, valued at $327,312.26. The trade was a 31.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Nanus sold 23,000,000 shares of EVgo stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $5.00, for a total value of $115,000,000.00. Following the sale, the director now owns 5,882,352 shares in the company, valued at $29,411,760. This represents a 79.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,061,563 shares of company stock valued at $115,225,745. Corporate insiders own 66.96% of the company’s stock.

Institutional Investors Weigh In On EVgo

Hedge funds and other institutional investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of EVgo in the 4th quarter valued at approximately $1,001,000. Voloridge Investment Management LLC bought a new stake in shares of EVgo in the 4th quarter valued at approximately $5,682,000. Two Sigma Advisers LP increased its holdings in shares of EVgo by 2,533.6% in the 4th quarter. Two Sigma Advisers LP now owns 2,494,000 shares of the company’s stock valued at $10,101,000 after acquiring an additional 2,399,300 shares during the last quarter. Two Sigma Investments LP increased its holdings in shares of EVgo by 296.4% in the 4th quarter. Two Sigma Investments LP now owns 2,720,342 shares of the company’s stock valued at $11,017,000 after acquiring an additional 2,034,045 shares during the last quarter. Finally, Teza Capital Management LLC bought a new stake in shares of EVgo in the 4th quarter valued at approximately $144,000. 17.44% of the stock is currently owned by hedge funds and other institutional investors.

EVgo Trading Down 4.6 %

NYSE EVGO opened at $2.91 on Friday. The business’s 50-day moving average price is $3.72 and its 200 day moving average price is $4.95. EVgo has a twelve month low of $1.65 and a twelve month high of $9.07. The company has a market capitalization of $882.17 million, a PE ratio of -6.93 and a beta of 2.32.

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.