EVgo, Inc. (NYSE:EVGO) Receives $6.11 Consensus Price Target from Brokerages

Shares of EVgo, Inc. (NYSE:EVGO) have received a consensus recommendation of “Buy” from the twelve ratings firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $6.11.

Several equities analysts recently weighed in on the stock. UBS Group reduced their target price on shares of EVgo from $8.00 to $5.00 and set a “buy” rating on the stock in a report on Monday, January 27th. JPMorgan Chase & Co. reduced their target price on shares of EVgo from $7.00 to $6.00 and set an “overweight” rating on the stock in a report on Wednesday, February 19th. Needham & Company LLC restated a “hold” rating on shares of EVgo in a report on Thursday, January 16th. Finally, Stifel Nicolaus lifted their target price on shares of EVgo from $6.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, October 30th.

EVgo Stock Performance

EVGO stock opened at $2.67 on Friday. The stock has a market capitalization of $809.41 million, a P/E ratio of -6.36 and a beta of 2.32. EVgo has a one year low of $1.65 and a one year high of $9.07. The company has a 50 day moving average price of $3.64 and a two-hundred day moving average price of $4.96.

Insider Buying and Selling at EVgo

In other EVgo news, Director David Nanus sold 23,000,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $5.00, for a total transaction of $115,000,000.00. Following the completion of the transaction, the director now directly owns 5,882,352 shares of the company’s stock, valued at $29,411,760. The trade was a 79.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Dennis G. Kish sold 44,184 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $3.41, for a total transaction of $150,667.44. Following the transaction, the president now directly owns 95,986 shares of the company’s stock, valued at $327,312.26. The trade was a 31.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,061,563 shares of company stock valued at $115,225,745 in the last ninety days. Company 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 EVGO. State Street Corp lifted its stake in shares of EVgo by 25.3% in the 3rd quarter. State Street Corp now owns 4,192,828 shares of the company’s stock worth $17,358,000 after acquiring an additional 847,777 shares during the period. Geode Capital Management LLC lifted its stake in shares of EVgo by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,419,863 shares of the company’s stock worth $10,020,000 after acquiring an additional 90,887 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of EVgo in the 3rd quarter worth approximately $51,000. Verition Fund Management LLC acquired a new stake in shares of EVgo in the 3rd quarter worth approximately $653,000. Finally, Barclays PLC lifted its stake in shares of EVgo by 280.6% in the 3rd quarter. Barclays PLC now owns 132,981 shares of the company’s stock worth $551,000 after acquiring an additional 98,041 shares during the period. 17.44% of the stock is owned by institutional investors and hedge funds.

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.