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

EVgo, Inc. (NYSE:EVGO) has been assigned a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $4.63.

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of EVgo in a research note on Thursday, August 29th. Cantor Fitzgerald restated an “overweight” rating and set a $5.00 price target on shares of EVgo in a research note on Monday. UBS Group assumed coverage on EVgo in a research note on Monday, July 22nd. They set a “neutral” rating and a $4.00 price target on the stock. Capital One Financial upgraded EVgo to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Benchmark boosted their price target on EVgo from $3.00 to $5.00 and gave the stock a “buy” rating in a research note on Friday, July 12th.

Insider Buying and Selling

In other EVgo news, President Dennis G. Kish sold 16,414 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $3.60, for a total value of $59,090.40. Following the completion of the transaction, the president now directly owns 47,614 shares of the company’s stock, valued at $171,410.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other EVgo news, President Dennis G. Kish sold 16,414 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $3.60, for a total value of $59,090.40. Following the completion of the transaction, the president now directly owns 47,614 shares of the company’s stock, valued at $171,410.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Francine Sullivan sold 12,584 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 117,327 shares of the company’s stock, valued at $422,377.20. The disclosure for this sale can be found here. Insiders sold 31,475 shares of company stock valued at $110,189 over the last quarter. 66.96% of the stock is currently owned by company insiders.

Institutional Trading of EVgo

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of EVgo by 0.4% in the first quarter. Vanguard Group Inc. now owns 9,698,722 shares of the company’s stock valued at $24,344,000 after buying an additional 37,168 shares in the last quarter. Wellington Management Group LLP increased its position in shares of EVgo by 34.9% in the fourth quarter. Wellington Management Group LLP now owns 3,675,314 shares of the company’s stock valued at $13,158,000 after buying an additional 951,272 shares in the last quarter. Voisard Asset Management Group Inc. purchased a new stake in shares of EVgo during the fourth quarter worth approximately $29,000. Bleakley Financial Group LLC purchased a new stake in shares of EVgo during the first quarter worth approximately $36,000. Finally, Tidal Investments LLC increased its position in shares of 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 purchasing an additional 77,354 shares in the last quarter. 17.44% of the stock is currently owned by hedge funds and other institutional investors.

EVgo Price Performance

EVGO opened at $4.13 on Wednesday. The business’s 50-day moving average is $3.96 and its two-hundred day moving average is $2.86. EVgo has a 1 year low of $1.65 and a 1 year high of $4.80. The firm has a market capitalization of $1.25 billion, a PE ratio of -10.87 and a beta of 2.59.

EVgo (NYSE:EVGO) last posted its earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.01. The company had revenue of $66.62 million during the quarter, compared to analysts’ expectations of $59.40 million. During the same quarter last year, the firm earned ($0.08) EPS. EVgo’s revenue for the quarter was up 31.8% on a year-over-year basis. As a group, sell-side analysts expect that EVgo will post -0.4 EPS 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.