EVgo, Inc. (NYSE:EVGO) Given Consensus Rating of “Moderate Buy” by Brokerages

EVgo, Inc. (NYSE:EVGO) has been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $4.20.

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

EVgo Stock Up 1.9 %

Shares of EVGO opened at $2.14 on Thursday. The company has a 50-day moving average price of $2.08 and a two-hundred day moving average price of $2.59. The stock has a market cap of $646.34 million, a price-to-earnings ratio of -5.63 and a beta of 2.53. EVgo has a 12 month low of $1.65 and a 12 month high of $5.95.

EVgo (NYSE:EVGO) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.02. The company had revenue of $55.16 million during the quarter, compared to analyst estimates of $52.41 million. EVgo’s quarterly revenue was up 118.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.09) EPS. Equities research analysts expect that EVgo will post -0.38 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Olga Shevorenkova sold 19,363 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was 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 directly owns 81,991 shares in the company, valued at approximately $245,973. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, President Dennis G. Kish sold 34,717 shares of the firm’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 transaction of $104,151.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Olga Shevorenkova sold 19,363 shares of the business’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 $58,089.00. Following the completion of the sale, the chief financial officer now owns 81,991 shares of the company’s stock, valued at $245,973. The disclosure for this sale can be found here. Insiders sold 56,230 shares of company stock worth $167,409 over the last three months. Insiders own 66.96% of the company’s stock.

Institutional Trading of EVgo

Institutional investors have recently modified their holdings of the stock. Swiss National Bank lifted its position in EVgo by 1.9% during the third quarter. Swiss National Bank now owns 222,100 shares of the company’s stock worth $751,000 after purchasing an additional 4,100 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of EVgo by 11.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 63,392 shares of the company’s stock worth $160,000 after acquiring an additional 6,633 shares during the period. Voisard Asset Management Group Inc. acquired a new stake in shares of EVgo during the 4th quarter worth approximately $29,000. Barclays PLC raised its position in EVgo by 7.6% during the third quarter. Barclays PLC now owns 114,829 shares of the company’s stock valued at $389,000 after purchasing an additional 8,134 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its stake in EVgo by 43.2% during the third quarter. State Board of Administration of Florida Retirement System now owns 29,160 shares of the company’s stock worth $99,000 after purchasing an additional 8,800 shares during the last quarter. 17.44% of the stock is currently owned by institutional investors.

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.