EVgo, Inc. (NYSE:EVGO) Receives $6.61 Average PT from Analysts

Shares of EVgo, Inc. (NYSE:EVGO) have been given a consensus recommendation of “Buy” by the twelve research firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $6.61.

Several analysts have recently weighed in on EVGO shares. Marathon Capitl raised shares of EVgo from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. UBS Group upgraded EVgo from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $4.00 to $8.50 in a research report on Thursday, October 10th. Stifel Nicolaus raised their price target on EVgo from $6.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $5.00 price target on shares of EVgo in a research note on Monday, September 30th. Finally, Royal Bank of Canada increased their price objective on EVgo from $4.00 to $8.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th.

Insider Activity at EVgo

In related news, CEO Badar Khan sold 166,725 shares of the company’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 value of $856,966.50. Following the sale, the chief executive officer now owns 348,761 shares of the company’s stock, valued at approximately $1,792,631.54. This represents a 32.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 66.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EVgo

Hedge funds have recently bought and sold shares of the stock. Creative Planning boosted its stake in shares of EVgo by 32.7% during the third quarter. Creative Planning now owns 13,365 shares of the company’s stock valued at $55,000 after acquiring an additional 3,297 shares during the last quarter. Legacy Capital Wealth Partners LLC boosted its stake in shares of EVgo by 31.8% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 14,500 shares of the company’s stock worth $60,000 after purchasing an additional 3,500 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of EVgo by 11.7% in the first 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. SG Americas Securities LLC raised its position in shares of EVgo by 47.0% in the second quarter. SG Americas Securities LLC now owns 24,049 shares of the company’s stock valued at $59,000 after buying an additional 7,687 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of EVgo by 20.2% during the third quarter. Janus Henderson Group PLC now owns 52,416 shares of the company’s stock valued at $217,000 after buying an additional 8,800 shares during the period. Hedge funds and other institutional investors own 17.44% of the company’s stock.

EVgo Stock Down 2.1 %

NYSE EVGO opened at $6.09 on Monday. The business’s 50-day moving average price is $6.86 and its 200 day moving average price is $4.63. The firm has a market cap of $1.85 billion, a P/E ratio of -14.50 and a beta of 2.24. EVgo has a 52-week low of $1.65 and a 52-week high of $9.07.

EVgo (NYSE:EVGO) last announced its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The business had revenue of $67.50 million during the quarter, compared to the consensus estimate of $66.52 million. During the same quarter in the prior year, the business earned ($0.09) EPS. The company’s revenue was up 92.3% on a year-over-year basis. As a group, analysts anticipate that EVgo will post -0.41 earnings per share for the current 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.