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

EVgo, Inc. (NYSE:EVGO) has been assigned a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $4.63.

Several brokerages have recently commented on EVGO. Benchmark upped their price target on EVgo from $3.00 to $5.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Evercore ISI decreased their price target on EVgo from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Monday, May 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a research note on Thursday. UBS Group began coverage on EVgo in a research note on Monday, July 22nd. They issued a “neutral” rating and a $4.00 price target on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $5.00 price target on shares of EVgo in a research note on Monday, August 19th.

EVgo Stock Up 0.9 %

Shares of NYSE:EVGO opened at $4.53 on Friday. The business has a fifty day moving average of $3.50 and a two-hundred day moving average of $2.66. The stock has a market cap of $1.37 billion, a P/E ratio of -11.92 and a beta of 2.58. EVgo has a 52-week low of $1.65 and a 52-week high of $4.70.

EVgo (NYSE:EVGO) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.01. The business had revenue of $66.62 million during the quarter, compared to analyst estimates of $59.40 million. During the same period last year, the company earned ($0.08) EPS. The business’s revenue for the quarter was up 31.8% on a year-over-year basis. On average, equities analysts anticipate that EVgo will post -0.38 earnings per share for the current year.

Insider Buying and Selling

In other EVgo news, President Dennis G. Kish sold 16,414 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $3.60, for a total value of $59,090.40. Following the sale, the president now owns 47,614 shares of the company’s stock, valued at approximately $171,410.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other EVgo news, President Dennis G. Kish sold 16,414 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $3.60, for a total value of $59,090.40. Following the sale, the president now owns 47,614 shares of the company’s stock, valued at approximately $171,410.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Francine Sullivan sold 12,584 shares of the stock in a transaction dated 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 in the company, valued at approximately $422,377.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,475 shares of company stock valued at $110,189. Corporate insiders own 66.96% of the company’s stock.

Institutional Investors Weigh In On EVgo

Hedge funds have recently bought and sold shares of the stock. Voisard Asset Management Group Inc. purchased a new position in shares of EVgo in the 4th quarter valued at about $29,000. Legacy Capital Wealth Partners LLC purchased a new position in shares of EVgo in the 2nd quarter valued at about $27,000. Bleakley Financial Group LLC purchased a new position in shares of EVgo in the 1st quarter valued at about $36,000. Simplicity Wealth LLC purchased a new position in EVgo during the 1st quarter worth approximately $36,000. Finally, International Assets Investment Management LLC purchased a new position in EVgo during the 4th quarter worth approximately $580,000. Institutional investors and hedge funds 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.