Brokerages Set EVgo, Inc. (NYSE:EVGO) Price Target at $5.19

EVgo, Inc. (NYSE:EVGO) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $5.19.

Several equities analysts have recently weighed in on the company. Evercore ISI reduced their price target on EVgo from $9.00 to $8.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. Cantor Fitzgerald restated a “neutral” rating and set a $5.00 price target on shares of EVgo in a report on Thursday, March 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $4.00 price objective on shares of EVgo in a research report on Friday, April 5th.

Insider Activity

In other news, President Dennis G. Kish sold 34,717 shares of EVgo stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total transaction of $104,151.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, President Dennis G. Kish sold 34,717 shares of EVgo stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total transaction of $104,151.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Olga Shevorenkova sold 29,772 shares of EVgo stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $2.26, for a total value of $67,284.72. Following the sale, the chief financial officer now directly owns 154,989 shares in the company, valued at approximately $350,275.14. The disclosure for this sale can be found here. Insiders have sold a total of 86,002 shares of company stock valued at $234,693 in the last ninety days. Corporate insiders own 66.96% of the company’s stock.

Hedge Funds Weigh In On EVgo

Institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP grew its position in shares of EVgo by 323.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,724,042 shares of the company’s stock worth $9,207,000 after buying an additional 2,080,839 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new stake in shares of EVgo during the 4th quarter worth $59,000. Dark Forest Capital Management LP lifted its stake in shares of EVgo by 1,862.2% during the 3rd quarter. Dark Forest Capital Management LP now owns 244,722 shares of the company’s stock worth $827,000 after purchasing an additional 232,250 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of EVgo by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 9,501,327 shares of the company’s stock worth $32,114,000 after purchasing an additional 421,704 shares during the last quarter. Finally, Swiss National Bank lifted its stake in shares of EVgo by 1.9% during the 3rd quarter. Swiss National Bank now owns 222,100 shares of the company’s stock worth $751,000 after purchasing an additional 4,100 shares during the last quarter. Hedge funds and other institutional investors own 17.44% of the company’s stock.

EVgo Trading Down 1.1 %

EVGO opened at $1.81 on Friday. The stock has a fifty day simple moving average of $2.31 and a two-hundred day simple moving average of $2.64. The company has a market cap of $545.75 million, a price-to-earnings ratio of -3.85 and a beta of 2.45. EVgo has a 12-month low of $1.65 and a 12-month high of $6.48.

EVgo (NYSE:EVGO) last posted its quarterly earnings data on Wednesday, March 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.05. The firm had revenue of $50.00 million during the quarter, compared to the consensus estimate of $44.39 million. EVgo’s revenue for the quarter was up 83.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.06) EPS. On average, analysts predict that EVgo will post -0.37 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.