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

EVgo, Inc. (NYSE:EVGOGet Free Report) has been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $4.00.

A number of equities analysts have issued reports on EVGO shares. Royal Bank of Canada restated an “outperform” rating and set a $4.00 price target on shares of EVgo in a report on Friday, April 5th. Benchmark started coverage on EVgo in a report on Wednesday, June 5th. They set a “buy” rating and a $3.00 price target on the stock. Needham & Company LLC restated a “hold” rating on shares of EVgo in a report on Wednesday, May 8th. Cantor Fitzgerald upgraded EVgo from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $5.00 to $4.00 in a report on Thursday, May 9th. Finally, Evercore ISI cut their price target on EVgo from $8.00 to $7.00 and set an “outperform” rating on the stock in a report on Monday, May 13th.

Check Out Our Latest Analysis on EVGO

EVgo Price Performance

Shares of EVGO stock opened at $2.03 on Monday. The business’s 50 day simple moving average is $1.99 and its 200 day simple moving average is $2.47. EVgo has a one year low of $1.65 and a one year high of $5.95. The stock has a market capitalization of $613.12 million, a PE ratio of -5.24 and a beta of 2.54.

EVgo (NYSE:EVGOGet Free Report) last announced its earnings results on Tuesday, May 7th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.02. The company had revenue of $55.16 million during the quarter, compared to the consensus estimate of $52.41 million. The business’s revenue was up 118.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.09) earnings per share. As a group, research analysts expect that EVgo will post -0.38 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Badar Khan bought 125,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were bought at an average cost of $2.01 per share, for a total transaction of $251,250.00. Following the acquisition, the chief executive officer now directly owns 143,874 shares in the company, valued at $289,186.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 66.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On EVgo

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC raised its position in 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 buying an additional 77,354 shares during the last quarter. Bayesian Capital Management LP raised its position in EVgo by 183.0% in the 1st quarter. Bayesian Capital Management LP now owns 63,400 shares of the company’s stock valued at $159,000 after buying an additional 41,001 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in EVgo by 11.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 63,392 shares of the company’s stock valued at $160,000 after buying an additional 6,633 shares during the last quarter. Vanguard Group Inc. raised its position in EVgo by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 9,698,722 shares of the company’s stock valued at $24,344,000 after buying an additional 37,168 shares during the last quarter. Finally, Bleakley Financial Group LLC purchased a new stake in EVgo in the 1st quarter valued at $36,000. 17.44% of the stock is owned by hedge funds and other institutional investors.

About EVgo

(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.

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Analyst Recommendations for EVgo (NYSE:EVGO)

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