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

Shares of EVgo, Inc. (NYSE:EVGOGet Free Report) have been assigned a consensus recommendation of “Buy” from the twelve brokerages that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $6.22.

Several analysts have issued reports on the company. UBS Group dropped their price objective on EVgo from $8.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday. Cantor Fitzgerald restated an “overweight” rating and issued a $5.00 price objective on shares of EVgo in a research note on Monday, September 30th. Marathon Capitl upgraded EVgo from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus upped their price objective on EVgo from $6.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. dropped their price objective on EVgo from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th.

View Our Latest Analysis on EVgo

Insider Buying and Selling

In other EVgo news, President Dennis G. Kish sold 17,379 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $4.32, for a total value of $75,077.28. Following the sale, the president now owns 13,655 shares of the company’s stock, valued at approximately $58,989.60. This trade represents a 56.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Badar Khan sold 166,725 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $5.14, for a total value of $856,966.50. Following the completion of the sale, the chief executive officer now directly owns 348,761 shares in the company, valued at approximately $1,792,631.54. This represents a 32.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,184,104 shares of company stock valued at $115,932,044 over the last 90 days. 66.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On EVgo

A number of large investors have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new stake in shares of EVgo during the 3rd quarter valued at $51,000. Creative Planning boosted its holdings in shares of EVgo by 32.7% during the 3rd quarter. Creative Planning now owns 13,365 shares of the company’s stock valued at $55,000 after acquiring an additional 3,297 shares in the last quarter. Legacy Capital Wealth Partners LLC boosted its holdings in shares of EVgo by 31.8% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 14,500 shares of the company’s stock valued at $60,000 after acquiring an additional 3,500 shares in the last quarter. Clear Harbor Asset Management LLC acquired a new stake in shares of EVgo during the 4th quarter valued at $72,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of EVgo during the 2nd quarter valued at $45,000. Institutional investors and hedge funds own 17.44% of the company’s stock.

EVgo Stock Performance

EVGO opened at $3.43 on Tuesday. EVgo has a 52-week low of $1.65 and a 52-week high of $9.07. The firm has a market capitalization of $1.04 billion, a PE ratio of -8.17 and a beta of 2.35. The business’s 50-day simple moving average is $4.93 and its 200 day simple moving average is $5.05.

EVgo (NYSE:EVGOGet Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The company had revenue of $67.50 million during the quarter, compared to analyst estimates of $66.52 million. The business’s quarterly revenue was up 92.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.09) EPS. On average, research analysts forecast that EVgo will post -0.45 earnings per share for the current year.

About EVgo

(Get Free Report

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.

See Also

Analyst Recommendations for EVgo (NYSE:EVGO)

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