EVgo, Inc. (NASDAQ:EVGO) Receives $6.11 Average PT from Brokerages

Shares of EVgo, Inc. (NASDAQ:EVGO) have received a consensus recommendation of “Buy” from the twelve brokerages that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $6.11.

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

Insiders Place Their Bets

In other news, President Dennis G. Kish sold 44,184 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $3.41, for a total transaction of $150,667.44. Following the completion of the transaction, the president now directly owns 95,986 shares of the company’s stock, valued at approximately $327,312.26. The trade was a 31.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 66.96% of the stock is owned by insiders.

Institutional Investors Weigh In On EVgo

Large investors have recently modified their holdings of the stock. Mariner LLC purchased a new stake in shares of EVgo during the fourth quarter worth approximately $48,000. FORA Capital LLC acquired a new position in EVgo during the fourth quarter worth $56,000. SCP Investment LP acquired a new position in EVgo during the fourth quarter worth $60,000. Clear Harbor Asset Management LLC acquired a new position in EVgo during the fourth quarter worth $72,000. Finally, Polymer Capital Management US LLC acquired a new position in EVgo during the fourth quarter worth $73,000. Hedge funds and other institutional investors own 17.44% of the company’s stock.

EVgo Price Performance

EVGO stock opened at $2.76 on Wednesday. EVgo has a 1-year low of $1.65 and a 1-year high of $9.07. The business has a fifty day moving average price of $3.00 and a 200-day moving average price of $4.76. The stock has a market capitalization of $845.45 million, a P/E ratio of -6.57 and a beta of 2.37.

EVgo (NASDAQ:EVGO) last posted its quarterly earnings data on Tuesday, March 4th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.04. The firm had revenue of $67.51 million for the quarter, compared to analysts’ expectations of $69.49 million. As a group, analysts anticipate 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.