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

EVgo, Inc. (NYSE:EVGOGet Free Report) has received an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $5.19.

EVGO has been the topic of several research reports. Royal Bank of Canada raised shares of EVgo from a “sector perform” rating to an “outperform” rating and cut their price objective for the company from $5.00 to $4.00 in a research report on Thursday, March 7th. Citigroup reduced their target price on shares of EVgo from $5.25 to $3.50 and set a “neutral” rating for the company in a report on Friday, December 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $5.00 target price on shares of EVgo in a report on Thursday, March 7th. Finally, Evercore ISI cut their price objective on shares of EVgo from $9.00 to $8.00 and set an “outperform” rating for the company in a report on Thursday, March 7th.

Check Out Our Latest Stock Report on EVgo

EVgo Stock Performance

Shares of EVGO stock opened at $2.21 on Wednesday. EVgo has a 52-week low of $1.88 and a 52-week high of $7.90. The stock has a market cap of $666.36 million, a PE ratio of -4.70 and a beta of 2.45. The firm’s 50 day moving average price is $2.49 and its two-hundred day moving average price is $2.84.

EVgo (NYSE:EVGOGet Free Report) last announced its quarterly earnings results on Wednesday, March 6th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.05. The firm had revenue of $50.00 million for the quarter, compared to the consensus estimate of $44.39 million. The company’s revenue for the quarter was up 83.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.06) earnings per share. As a group, sell-side analysts predict that EVgo will post -0.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In other EVgo news, President Dennis G. Kish sold 34,717 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $3.00, for a total value of $104,151.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Olga Shevorenkova sold 19,363 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $3.00, for a total value of $58,089.00. Following the completion of the sale, the chief financial officer now owns 81,991 shares in the company, valued at $245,973. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $104,151.00. The disclosure for this sale can be found here. Insiders sold a total of 86,002 shares of company stock worth $234,693 in the last three months. 73.48% of the stock is owned by corporate insiders.

Institutional Trading of EVgo

Several hedge funds and other institutional investors have recently modified their holdings of EVGO. Vanguard Group Inc. grew its stake in EVgo by 121.6% in the 1st quarter. Vanguard Group Inc. now owns 5,882,535 shares of the company’s stock worth $75,649,000 after buying an additional 3,228,340 shares in the last quarter. Allianz Asset Management GmbH purchased a new stake in EVgo during the 1st quarter valued at about $32,188,000. Wellington Management Group LLP grew its position in EVgo by 323.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,724,042 shares of the company’s stock valued at $9,207,000 after purchasing an additional 2,080,839 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of EVgo by 333.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,346,865 shares of the company’s stock valued at $5,387,000 after acquiring an additional 1,036,335 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of EVgo by 98.9% during the 2nd quarter. State Street Corp now owns 1,924,787 shares of the company’s stock valued at $11,568,000 after acquiring an additional 957,132 shares during the last quarter. Institutional investors own 17.44% of the company’s stock.

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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