Analysts Set EVgo, Inc. (NYSE:EVGO) PT at $4.00

EVgo, Inc. (NYSE:EVGO) has been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $4.00.

A number of brokerages recently issued reports on EVGO. Citigroup decreased their price objective on shares of EVgo from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. Needham & Company LLC restated a “hold” rating on shares of EVgo in a report on Wednesday, May 8th. Benchmark began coverage on shares of EVgo in a report on Wednesday, June 5th. They set a “buy” rating and a $3.00 price objective for the company. Evercore ISI decreased their price objective on shares of EVgo from $8.00 to $7.00 and set an “outperform” rating for the company in a report on Monday, May 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $4.00 price target on shares of EVgo in a research note on Friday, April 5th.

Insider Buying and Selling at EVgo

In other EVgo news, CEO Badar Khan acquired 125,000 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were acquired at an average price of $2.01 per share, with a total value of $251,250.00. Following the completion of the transaction, the chief executive officer now directly owns 143,874 shares in the company, valued at approximately $289,186.74. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 66.96% of the company’s stock.

Institutional Trading of EVgo

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in EVgo by 0.4% during the first quarter. Vanguard Group Inc. now owns 9,698,722 shares of the company’s stock worth $24,344,000 after buying an additional 37,168 shares during the last quarter. Wellington Management Group LLP increased its holdings in EVgo by 34.9% during the fourth quarter. Wellington Management Group LLP now owns 3,675,314 shares of the company’s stock worth $13,158,000 after buying an additional 951,272 shares during the last quarter. Tidal Investments LLC increased its holdings in EVgo by 32.2% during the first quarter. Tidal Investments LLC now owns 317,945 shares of the company’s stock worth $798,000 after buying an additional 77,354 shares during the last quarter. Atria Wealth Solutions Inc. increased its holdings in EVgo by 3.2% during the fourth 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, Dark Forest Capital Management LP increased its holdings in shares of EVgo by 1,862.2% in the third quarter. Dark Forest Capital Management LP now owns 244,722 shares of the company’s stock valued at $827,000 after purchasing an additional 232,250 shares during the last quarter. Institutional investors own 17.44% of the company’s stock.

EVgo Price Performance

Shares of NYSE:EVGO opened at $2.04 on Monday. EVgo has a one year low of $1.65 and a one year high of $5.95. The company has a 50 day moving average of $2.00 and a 200-day moving average of $2.48. The stock has a market cap of $616.15 million, a price-to-earnings ratio of -5.37 and a beta of 2.54.

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