EVgo, Inc. (NASDAQ:EVGO) Receives $6.11 Average PT from Brokerages

Shares of EVgo, Inc. (NASDAQ:EVGO) have received an average rating of “Buy” from the twelve analysts that are covering the company, MarketBeat Ratings reports. Two investment 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 12-month price objective among brokers that have covered the stock in the last year is $6.11.

A number of analysts have recently issued reports on EVGO shares. UBS Group dropped their price target on EVgo from $8.00 to $5.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Stifel Nicolaus decreased their price objective on EVgo from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Needham & Company LLC reissued a “hold” rating on shares of EVgo in a report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price objective on EVgo from $6.00 to $5.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $8.00 price objective on shares of EVgo in a report on Wednesday, March 5th.

Insider Activity at EVgo

In related news, President Dennis G. Kish sold 44,184 shares of EVgo stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $3.41, for a total transaction of $150,667.44. Following the sale, the president now directly owns 95,986 shares in the company, valued at $327,312.26. The trade was a 31.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 66.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EVgo

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in EVgo by 20.1% in the fourth quarter. Vanguard Group Inc. now owns 12,200,949 shares of the company’s stock worth $49,414,000 after acquiring an additional 2,043,449 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in EVgo by 175.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 4,949,622 shares of the company’s stock worth $20,046,000 after acquiring an additional 3,153,073 shares in the last quarter. Millennium Management LLC boosted its holdings in EVgo by 394.4% in the fourth quarter. Millennium Management LLC now owns 4,623,922 shares of the company’s stock worth $18,727,000 after acquiring an additional 3,688,614 shares in the last quarter. State Street Corp raised its stake in shares of EVgo by 25.3% in the third quarter. State Street Corp now owns 4,192,828 shares of the company’s stock worth $17,358,000 after purchasing an additional 847,777 shares during the last quarter. Finally, SIR Capital Management L.P. raised its stake in shares of EVgo by 326.3% in the fourth quarter. SIR Capital Management L.P. now owns 3,533,645 shares of the company’s stock worth $14,311,000 after purchasing an additional 2,704,662 shares during the last quarter. 17.44% of the stock is owned by institutional investors.

EVgo Stock Performance

EVGO stock opened at $2.76 on Wednesday. The company has a market capitalization of $845.45 million, a price-to-earnings ratio of -6.57 and a beta of 2.37. EVgo has a fifty-two week low of $1.65 and a fifty-two week high of $9.07. The stock has a fifty day moving average of $3.00 and a 200-day moving average of $4.76.

EVgo (NASDAQ:EVGO) last issued its earnings results on Tuesday, March 4th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.04. The company had revenue of $67.51 million during the quarter, compared to the consensus estimate of $69.49 million. Equities analysts predict that EVgo will post -0.45 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.