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

EVgo, Inc. (NASDAQ:EVGO) has been given an average recommendation of “Buy” by the twelve ratings firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $6.11.

Several brokerages recently commented on EVGO. JPMorgan Chase & Co. reduced their price target on shares of EVgo from $6.00 to $5.00 and set an “overweight” rating for the company in a research report on Wednesday, March 12th. Cantor Fitzgerald restated an “overweight” rating and issued a $8.00 price target on shares of EVgo in a research report on Wednesday, March 5th. Needham & Company LLC restated a “hold” rating on shares of EVgo in a research report on Wednesday, March 5th. UBS Group dropped their price objective on shares of EVgo from $8.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Finally, Stifel Nicolaus dropped their price objective on shares of EVgo from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th.

Insider Transactions at EVgo

In other news, President Dennis G. Kish sold 17,379 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $4.32, for a total transaction of $75,077.28. Following the transaction, the president now owns 13,655 shares in the company, valued at $58,989.60. This represents a 56.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 66.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of EVGO. Millennium Management LLC increased its stake in shares of EVgo by 394.4% during the 4th quarter. Millennium Management LLC now owns 4,623,922 shares of the company’s stock worth $18,727,000 after purchasing an additional 3,688,614 shares during the last quarter. D. E. Shaw & Co. Inc. grew its stake in EVgo by 175.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 4,949,622 shares of the company’s stock valued at $20,046,000 after buying an additional 3,153,073 shares during the last quarter. SIR Capital Management L.P. grew its stake in EVgo by 326.3% in the 4th quarter. SIR Capital Management L.P. now owns 3,533,645 shares of the company’s stock valued at $14,311,000 after buying an additional 2,704,662 shares during the last quarter. Two Sigma Advisers LP grew its stake in 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 buying an additional 2,399,300 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in EVgo by 20.1% in the 4th quarter. Vanguard Group Inc. now owns 12,200,949 shares of the company’s stock valued at $49,414,000 after buying an additional 2,043,449 shares during the last quarter. Institutional investors and hedge funds own 17.44% of the company’s stock.

EVgo Price Performance

EVGO stock opened at $2.76 on Wednesday. EVgo has a 12 month low of $1.65 and a 12 month high of $9.07. The firm has a market cap of $845.45 million, a PE ratio of -6.57 and a beta of 2.37. The firm has a 50 day simple moving average of $3.00 and a 200 day simple moving average of $4.77.

EVgo (NASDAQ:EVGO) last issued its quarterly earnings results on Tuesday, March 4th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.04. The firm had revenue of $67.51 million during the quarter, compared to analysts’ expectations of $69.49 million. As a group, sell-side analysts expect that EVgo will post -0.45 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.