EVgo (NYSE:EVGO) Shares Gap Up – What’s Next?

EVgo, Inc. (NYSE:EVGOGet Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $5.83, but opened at $6.17. EVgo shares last traded at $5.86, with a volume of 2,629,350 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of EVgo in a research report on Wednesday, November 13th. TD Cowen upgraded EVgo from a “hold” rating to a “buy” rating and boosted their target price for the stock from $5.00 to $7.00 in a report on Thursday, October 3rd. UBS Group raised EVgo from a “neutral” rating to a “buy” rating and increased their price target for the company from $4.00 to $8.50 in a report on Thursday, October 10th. Marathon Capitl raised EVgo from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $5.00 target price on shares of EVgo in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $6.61.

Check Out Our Latest Analysis on EVgo

EVgo Stock Up 6.1 %

The stock has a market cap of $1.92 billion, a PE ratio of -15.11 and a beta of 2.38. The firm has a fifty day moving average of $6.26 and a 200 day moving average of $4.15.

EVgo (NYSE:EVGOGet Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The firm had revenue of $67.50 million during the quarter, compared to analyst estimates of $66.52 million. During the same quarter in the previous year, the business earned ($0.09) earnings per share. The business’s quarterly revenue was up 92.3% on a year-over-year basis. On average, equities research analysts forecast that EVgo, Inc. will post -0.41 EPS for the current fiscal year.

Insider Transactions at EVgo

In other news, CEO Badar Khan sold 166,725 shares of EVgo stock in a transaction dated Thursday, November 14th. The shares were 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 of the company’s stock, valued at $1,792,631.54. The trade was a 32.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 66.96% of the company’s stock.

Institutional Investors Weigh In On EVgo

A number of hedge funds have recently added to or reduced their stakes in the company. Creative Planning raised its stake in shares of EVgo by 32.7% during the 3rd quarter. Creative Planning now owns 13,365 shares of the company’s stock worth $55,000 after buying an additional 3,297 shares in the last quarter. Legacy Capital Wealth Partners LLC boosted its position 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 worth $60,000 after purchasing an additional 3,500 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of EVgo by 11.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 63,392 shares of the company’s stock valued at $160,000 after purchasing an additional 6,633 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of EVgo by 47.0% in the second quarter. SG Americas Securities LLC now owns 24,049 shares of the company’s stock valued at $59,000 after purchasing an additional 7,687 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in EVgo by 20.2% during the third quarter. Janus Henderson Group PLC now owns 52,416 shares of the company’s stock worth $217,000 after buying an additional 8,800 shares in the last quarter. Institutional investors and hedge funds own 17.44% of the company’s stock.

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.

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