EVgo, Inc. (NASDAQ:EVGO) Receives $5.78 Consensus Price Target from Brokerages

EVgo, Inc. (NASDAQ:EVGOGet Free Report) has been given an average rating of “Buy” by the twelve ratings firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $5.78.

EVGO has been the subject of several research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $8.00 price target on shares of EVgo in a research note on Wednesday, March 5th. UBS Group cut their price target on shares of EVgo from $8.00 to $5.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Evercore ISI dropped their target price on EVgo from $7.00 to $4.00 and set an “outperform” rating on the stock in a report on Monday, March 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a research report on Wednesday, March 5th. Finally, Stifel Nicolaus dropped their price target on shares of EVgo from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th.

View Our Latest Stock Report on EVGO

Insiders Place Their Bets

In related news, President Dennis G. Kish sold 44,184 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $3.41, for a total value of $150,667.44. Following the completion of the transaction, the president now owns 95,986 shares of the company’s stock, valued at $327,312.26. This represents a 31.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 66.96% of the company’s stock.

Hedge Funds Weigh In On EVgo

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of EVgo by 20.1% in the 4th quarter. Vanguard Group Inc. now owns 12,200,949 shares of the company’s stock worth $49,414,000 after purchasing an additional 2,043,449 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in shares of EVgo by 175.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 4,949,622 shares of the company’s stock worth $20,046,000 after buying an additional 3,153,073 shares during the last quarter. Millennium Management LLC grew its position in EVgo by 394.4% during the fourth quarter. Millennium Management LLC now owns 4,623,922 shares of the company’s stock valued at $18,727,000 after buying an additional 3,688,614 shares during the period. State Street Corp increased its holdings in EVgo by 25.3% during the third quarter. State Street Corp now owns 4,192,828 shares of the company’s stock worth $17,358,000 after buying an additional 847,777 shares during the last quarter. Finally, SIR Capital Management L.P. boosted its stake in EVgo by 326.3% in the fourth quarter. SIR Capital Management L.P. now owns 3,533,645 shares of the company’s stock valued at $14,311,000 after acquiring an additional 2,704,662 shares during the last quarter. 17.44% of the stock is currently owned by institutional investors.

EVgo Stock Down 5.9 %

EVgo stock opened at $2.55 on Friday. The company has a 50 day moving average of $2.69 and a 200-day moving average of $4.55. EVgo has a twelve month low of $1.65 and a twelve month high of $9.07. The stock has a market capitalization of $781.12 million, a PE ratio of -6.07 and a beta of 2.28.

EVgo (NASDAQ:EVGOGet Free Report) last released its quarterly earnings results on Tuesday, March 4th. The company reported ($0.11) earnings per share (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 analyst estimates of $69.49 million. Equities analysts anticipate that EVgo will post -0.45 EPS for the current fiscal year.

EVgo Company Profile

(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 (NASDAQ:EVGO)

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