Brokerages Set EVgo, Inc. (NYSE:EVGO) Target Price at $6.61

Shares of EVgo, Inc. (NYSE:EVGO) have been given an average recommendation of “Buy” by the twelve brokerages that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $6.61.

Several analysts have issued reports on EVGO shares. Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a research report on Wednesday. Marathon Capitl raised EVgo from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Capital One Financial upgraded shares of EVgo to a “strong-buy” rating in a report on Monday, September 16th. Stifel Nicolaus raised their price target on shares of EVgo from $6.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $5.00 price objective on shares of EVgo in a research note on Monday, September 30th.

Insider Activity

In related news, CEO Badar Khan sold 166,725 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $5.14, for a total value of $856,966.50. Following the sale, the chief executive officer now owns 348,761 shares in the company, valued at $1,792,631.54. This represents a 32.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 66.96% of the company’s stock.

Institutional Trading of EVgo

Several institutional investors and hedge funds have recently bought and sold shares of EVGO. Legacy Capital Wealth Partners LLC purchased a new stake in shares of EVgo in the second quarter worth about $27,000. Bleakley Financial Group LLC acquired a new position in EVgo in the first quarter valued at approximately $36,000. SG Americas Securities LLC purchased a new stake in EVgo in the 1st quarter worth approximately $41,000. Point72 DIFC Ltd acquired a new stake in shares of EVgo during the 2nd quarter worth approximately $45,000. Finally, International Assets Investment Management LLC purchased a new position in shares of EVgo during the 3rd quarter valued at approximately $51,000. 17.44% of the stock is currently owned by institutional investors and hedge funds.

EVgo Trading Up 0.2 %

Shares of EVgo stock opened at $5.06 on Thursday. EVgo has a 12 month low of $1.65 and a 12 month high of $9.07. The stock’s fifty day moving average price is $6.12 and its 200-day moving average price is $4.06. The firm has a market cap of $1.53 billion, a P/E ratio of -12.05 and a beta of 2.38.

EVgo (NYSE:EVGO) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The firm had revenue of $67.50 million for the quarter, compared to analyst estimates of $66.52 million. During the same period in the prior year, the company posted ($0.09) EPS. The business’s quarterly revenue was up 92.3% on a year-over-year basis. Analysts forecast that EVgo will post -0.4 earnings per share 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.