Analysts Set EVgo, Inc. (NYSE:EVGO) Target Price at $6.17

Shares of EVgo, Inc. (NYSE:EVGO) have received a consensus recommendation of “Moderate Buy” from the eleven research firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $6.17.

Several brokerages have recently weighed in on EVGO. JPMorgan Chase & Co. upgraded EVgo from a “neutral” rating to an “overweight” rating and set a $7.00 price target on the stock in a report on Thursday, October 3rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $5.00 target price on shares of EVgo in a research report on Monday, September 30th. Stifel Nicolaus cut their price target on shares of EVgo from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. TD Cowen upgraded shares of EVgo from a “hold” rating to a “buy” rating and lifted their price objective for the company from $5.00 to $7.00 in a report on Thursday, October 3rd. Finally, Royal Bank of Canada boosted their price objective on shares of EVgo from $4.00 to $8.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th.

EVgo Stock Performance

Shares of EVgo stock opened at $8.26 on Friday. The stock has a 50 day moving average price of $4.98 and a 200-day moving average price of $3.38. EVgo has a one year low of $1.65 and a one year high of $8.80. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of -22.00 and a beta of 2.58.

EVgo (NYSE:EVGO) last posted its quarterly earnings data 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 firm had revenue of $66.62 million for the quarter, compared to the consensus estimate of $59.40 million. During the same quarter last year, the firm earned ($0.08) EPS. The company’s revenue was up 31.8% on a year-over-year basis. Sell-side analysts predict that EVgo will post -0.4 earnings per share for the current fiscal year.

Insider Transactions at EVgo

In other news, President Dennis G. Kish sold 16,414 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $3.60, for a total value of $59,090.40. Following the sale, the president now directly owns 47,614 shares in the company, valued at approximately $171,410.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other EVgo news, President Dennis G. Kish sold 16,414 shares of the firm’s 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 completion of the sale, the president now owns 47,614 shares of the company’s stock, valued at approximately $171,410.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $45,302.40. Following the sale, the insider now directly owns 117,327 shares in the company, valued at $422,377.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 66.96% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP grew its position in EVgo by 34.9% during the 4th quarter. Wellington Management Group LLP now owns 3,675,314 shares of the company’s stock worth $13,158,000 after purchasing an additional 951,272 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in EVgo during the first quarter valued at approximately $71,000. SG Americas Securities LLC acquired a new position in EVgo in the first quarter valued at approximately $41,000. Bleakley Financial Group LLC purchased a new stake in EVgo in the 1st quarter worth approximately $36,000. Finally, Vanguard Group Inc. grew its stake in shares of EVgo by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 9,698,722 shares of the company’s stock worth $24,344,000 after purchasing an additional 37,168 shares during the period. Hedge funds and other institutional investors own 17.44% of the company’s stock.

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.