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

EVgo, Inc. (NYSE:EVGO) has been given an average rating of “Buy” by the twelve analysts that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $6.61.

Several research firms have commented on EVGO. Royal Bank of Canada raised their target price on shares of EVgo from $4.00 to $8.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. upgraded shares of EVgo from a “neutral” rating to an “overweight” rating and set a $7.00 price objective for the company in a research report on Thursday, October 3rd. TD Cowen upgraded EVgo from a “hold” rating to a “buy” rating and upped their target price for the stock from $5.00 to $7.00 in a research note on Thursday, October 3rd. Capital One Financial upgraded EVgo to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Needham & Company LLC restated a “hold” rating on shares of EVgo in a research report on Wednesday, November 13th.

Insider Buying and Selling at EVgo

In other news, CEO Badar Khan sold 166,725 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $5.14, for a total transaction of $856,966.50. Following the completion of the transaction, the chief executive officer now owns 348,761 shares of the company’s stock, valued at approximately $1,792,631.54. This trade represents a 32.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 66.96% of the company’s stock.

Institutional Trading of EVgo

A number of institutional investors and hedge funds have recently bought and sold shares of EVGO. Legacy Capital Wealth Partners LLC acquired a new stake in EVgo during the 2nd quarter valued at approximately $27,000. Point72 DIFC Ltd acquired a new stake in shares of EVgo during the second quarter worth $45,000. International Assets Investment Management LLC bought a new position in EVgo during the third quarter worth $51,000. Creative Planning lifted its holdings in EVgo by 32.7% in the third quarter. Creative Planning now owns 13,365 shares of the company’s stock valued at $55,000 after buying an additional 3,297 shares during the period. Finally, SG Americas Securities LLC boosted its position in EVgo by 47.0% during the second quarter. SG Americas Securities LLC now owns 24,049 shares of the company’s stock valued at $59,000 after acquiring an additional 7,687 shares during the last quarter. 17.44% of the stock is currently owned by institutional investors and hedge funds.

EVgo Trading Up 1.4 %

Shares of EVGO stock opened at $6.37 on Monday. The stock has a market cap of $1.93 billion, a P/E ratio of -15.17 and a beta of 2.24. EVgo has a 1 year low of $1.65 and a 1 year high of $9.07. The stock has a 50 day simple moving average of $6.73 and a 200 day simple moving average of $4.52.

EVgo (NYSE:EVGO) last released its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The firm had revenue of $67.50 million during the quarter, compared to analysts’ expectations of $66.52 million. During the same period last year, the firm posted ($0.09) EPS. The business’s revenue for the quarter was up 92.3% on a year-over-year basis. Analysts forecast that EVgo will post -0.41 EPS for the current year.

EVgo Company Profile

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.