Brokerages Set EVgo, Inc. (NYSE:EVGO) PT at $4.67

Shares of EVgo, Inc. (NYSE:EVGOGet Free Report) have earned an average rating of “Moderate Buy” from the six analysts that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $4.20.

EVGO has been the subject of a number of research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $4.00 target price 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 report on Wednesday, May 8th. Cantor Fitzgerald upgraded EVgo from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $5.00 to $4.00 in a report on Thursday, May 9th. Citigroup cut their price target on EVgo from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. Finally, Evercore ISI decreased their price objective on shares of EVgo from $8.00 to $7.00 and set an “outperform” rating on the stock in a report on Monday, May 13th.

View Our Latest Research Report on EVGO

Insider Activity

In related news, President Dennis G. Kish sold 34,717 shares of EVgo stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total value of $104,151.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Badar Khan purchased 125,000 shares of EVgo stock in a transaction dated Monday, May 13th. The shares were acquired 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Dennis G. Kish sold 34,717 shares of EVgo stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total value of $104,151.00. The disclosure for this sale can be found here. Insiders have sold 56,230 shares of company stock valued at $167,409 over the last 90 days. 66.96% of the stock is owned by company insiders.

Hedge Funds Weigh In On EVgo

Several hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC increased its stake in shares of EVgo by 32.2% in the 1st quarter. Tidal Investments LLC now owns 317,945 shares of the company’s stock valued at $798,000 after acquiring an additional 77,354 shares during the last quarter. Bayesian Capital Management LP increased its stake in EVgo by 183.0% in the first quarter. Bayesian Capital Management LP now owns 63,400 shares of the company’s stock valued at $159,000 after purchasing an additional 41,001 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in EVgo by 11.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 63,392 shares of the company’s stock worth $160,000 after purchasing an additional 6,633 shares during the period. Vanguard Group Inc. boosted its position in shares of EVgo by 0.4% during the first quarter. Vanguard Group Inc. now owns 9,698,722 shares of the company’s stock worth $24,344,000 after purchasing an additional 37,168 shares in the last quarter. Finally, Bleakley Financial Group LLC acquired a new position in shares of EVgo in the 1st quarter valued at $36,000. Institutional investors and hedge funds own 17.44% of the company’s stock.

EVgo Price Performance

Shares of NYSE:EVGO opened at $2.05 on Thursday. The business’s fifty day moving average price is $2.06 and its two-hundred day moving average price is $2.58. EVgo has a fifty-two week low of $1.65 and a fifty-two week high of $5.95. The stock has a market capitalization of $619.16 million, a price-to-earnings ratio of -5.39 and a beta of 2.53.

EVgo (NYSE:EVGOGet Free Report) last posted its earnings results on Tuesday, May 7th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.02. The firm had revenue of $55.16 million during the quarter, compared to the consensus estimate of $52.41 million. During the same period in the previous year, the company posted ($0.09) EPS. The firm’s revenue for the quarter was up 118.0% compared to the same quarter last year. Research analysts expect that EVgo will post -0.38 EPS for the current fiscal year.

EVgo Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for EVgo (NYSE:EVGO)

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