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

EVgo, Inc. (NYSE:EVGO) has received a consensus rating of “Buy” from the twelve research firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $6.11.

A number of research firms have commented on EVGO. UBS Group decreased their price target on EVgo from $8.00 to $5.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Stifel Nicolaus lifted their target price on EVgo from $6.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Needham & Company LLC restated a “hold” rating on shares of EVgo in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of EVgo from $7.00 to $6.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 19th.

Insiders Place Their Bets

In other news, Director David Nanus sold 23,000,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $5.00, for a total value of $115,000,000.00. Following the completion of the sale, the director now owns 5,882,352 shares in the company, valued at approximately $29,411,760. This trade represents a 79.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Dennis G. Kish sold 44,184 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $3.41, for a total transaction of $150,667.44. Following the transaction, the president now owns 95,986 shares in the company, valued at $327,312.26. The trade was a 31.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,061,563 shares of company stock valued at $115,225,745 in the last three months. Corporate insiders own 66.96% of the company’s stock.

Hedge Funds Weigh In On EVgo

A number of large investors have recently bought and sold shares of EVGO. Vanguard Group Inc. increased its stake in 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 buying an additional 2,043,449 shares during the period. D. E. Shaw & Co. Inc. increased its position in shares of EVgo by 175.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 4,949,622 shares of the company’s stock worth $20,046,000 after acquiring an additional 3,153,073 shares during the period. Millennium Management LLC grew its stake in EVgo by 394.4% in the fourth quarter. Millennium Management LLC now owns 4,623,922 shares of the company’s stock worth $18,727,000 after purchasing an additional 3,688,614 shares in the last quarter. State Street Corp lifted its holdings in shares of EVgo by 25.3% in the 3rd 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 period. Finally, SIR Capital Management L.P. grew its position in shares of EVgo by 326.3% during the 4th quarter. SIR Capital Management L.P. now owns 3,533,645 shares of the company’s stock worth $14,311,000 after buying an additional 2,704,662 shares in the last quarter. Hedge funds and other institutional investors own 17.44% of the company’s stock.

EVgo Price Performance

Shares of EVGO stock opened at $2.73 on Friday. EVgo has a one year low of $1.65 and a one year high of $9.07. The company’s fifty day moving average price is $3.57 and its 200-day moving average price is $4.94. The company has a market capitalization of $826.09 million, a price-to-earnings ratio of -6.49 and a beta of 2.32.

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.