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

Shares of EVgo, Inc. (NYSE:EVGO) have received an average rating of “Moderate Buy” from the six research firms that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $4.67.

Several research analysts recently issued reports on EVGO shares. Needham & Company LLC reissued a “hold” rating on shares of EVgo in a research note on Wednesday, May 8th. Royal Bank of Canada reissued an “outperform” rating and set a $4.00 target price on shares of EVgo in a research note on Friday, April 5th. Citigroup cut their target price on shares of EVgo from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Thursday, May 9th. Evercore ISI cut their target price on shares of EVgo from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Monday, May 13th. Finally, Cantor Fitzgerald raised shares of EVgo from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $5.00 to $4.00 in a research note on Thursday, May 9th.

EVgo Stock Performance

NYSE:EVGO opened at $2.23 on Thursday. The firm has a market cap of $673.53 million, a P/E ratio of -5.87 and a beta of 2.53. EVgo has a 52 week low of $1.65 and a 52 week high of $5.95. The firm’s fifty day moving average is $2.10 and its 200-day moving average is $2.60.

EVgo (NYSE:EVGO) last issued its earnings results on Tuesday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.02. The company had revenue of $55.16 million for the quarter, compared to the consensus estimate of $52.41 million. The firm’s revenue was up 118.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.09) earnings per share. As a group, sell-side analysts anticipate that EVgo will post -0.38 earnings per share for the current year.

Insider Buying and Selling at EVgo

In other news, President Dennis G. Kish sold 34,717 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 $104,151.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Badar Khan bought 125,000 shares of the stock in a transaction dated Monday, May 13th. The stock was bought at an average price of $2.01 per share, for a total transaction of $251,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 143,874 shares in the company, valued at approximately $289,186.74. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Dennis G. Kish sold 34,717 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 transaction of $104,151.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,230 shares of company stock valued at $167,409. Corporate insiders own 66.96% of the company’s stock.

Institutional Trading of EVgo

A number of large investors have recently added to or reduced their stakes in EVGO. Voisard Asset Management Group Inc. purchased a new stake in EVgo during the fourth quarter worth about $29,000. Headlands Technologies LLC purchased a new position in shares of EVgo in the third quarter worth about $32,000. Sigma Planning Corp purchased a new position in shares of EVgo in the third quarter worth about $36,000. Simplicity Wealth LLC purchased a new position in shares of EVgo in the first quarter worth about $36,000. Finally, Bleakley Financial Group LLC purchased a new position in shares of EVgo in the first quarter worth about $36,000. Hedge funds and other institutional investors own 17.44% of the company’s stock.

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.