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

Shares of EVgo, Inc. (NYSE:EVGO) have been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $4.63.

Several research firms have issued reports on EVGO. Stifel Nicolaus lowered their target price on shares of EVgo from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Benchmark increased their price objective on EVgo from $3.00 to $5.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Cantor Fitzgerald restated an “overweight” rating and set a $5.00 target price on shares of EVgo in a research report on Tuesday. Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a report on Thursday, August 29th. Finally, UBS Group initiated coverage on EVgo in a report on Monday, July 22nd. They set a “neutral” rating and a $4.00 price objective for the company.

EVgo Price Performance

EVgo stock opened at $4.18 on Friday. EVgo has a one year low of $1.65 and a one year high of $4.70. The firm has a market capitalization of $1.26 billion, a P/E ratio of -11.00 and a beta of 2.58. The business has a fifty day moving average price of $3.61 and a 200-day moving average price of $2.70.

EVgo (NYSE:EVGO) last posted its earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The company had revenue of $66.62 million for the quarter, compared to analysts’ expectations of $59.40 million. During the same period in the previous year, the firm earned ($0.08) EPS. The firm’s quarterly revenue was up 31.8% compared to the same quarter last year. Sell-side analysts expect that EVgo will post -0.4 earnings per share for the current fiscal year.

Insider Activity at EVgo

In other EVgo news, insider Francine Sullivan sold 12,584 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $3.60, for a total transaction of $45,302.40. Following the transaction, the insider now directly owns 117,327 shares in the company, valued at $422,377.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other EVgo news, insider Francine Sullivan sold 12,584 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $3.60, for a total value of $45,302.40. Following the completion of the sale, the insider now directly owns 117,327 shares of the company’s stock, valued at $422,377.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Dennis G. Kish sold 16,414 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $3.60, for a total transaction of $59,090.40. Following the sale, the president now owns 47,614 shares of the company’s stock, valued at $171,410.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,475 shares of company stock valued at $110,189. Corporate insiders own 66.96% of the company’s stock.

Institutional Trading of EVgo

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its stake in shares of EVgo by 11.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 63,392 shares of the company’s stock valued at $160,000 after acquiring an additional 6,633 shares during the last quarter. SG Americas Securities LLC raised its position in EVgo by 47.0% during the 2nd quarter. SG Americas Securities LLC now owns 24,049 shares of the company’s stock valued at $59,000 after purchasing an additional 7,687 shares during the last quarter. Voisard Asset Management Group Inc. purchased a new stake in EVgo in the 4th quarter worth approximately $29,000. Atria Wealth Solutions Inc. grew its position in shares of EVgo by 3.2% in the 4th quarter. Atria Wealth Solutions Inc. now owns 288,368 shares of the company’s stock worth $1,032,000 after buying an additional 8,879 shares during the last quarter. Finally, PFG Investments LLC increased its stake in shares of EVgo by 94.2% during the first quarter. PFG Investments LLC now owns 20,976 shares of the company’s stock valued at $53,000 after buying an additional 10,176 shares during the period. Institutional investors own 17.44% of the company’s stock.

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.