EVgo (NASDAQ:EVGO) Price Target Lowered to $4.00 at Evercore ISI

EVgo (NASDAQ:EVGO - Free Report) had its price objective lowered by Evercore ISI from $7.00 to $4.00 in a research report sent to investors on Monday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

EVGO has been the subject of several other reports. Stifel Nicolaus lowered their target price on EVgo from $10.00 to $8.00 and set a "buy" rating for the company in a report on Thursday, March 6th. Cantor Fitzgerald reiterated an "overweight" rating and set a $8.00 target price on shares of EVgo in a report on Wednesday, March 5th. UBS Group cut their target price on shares of EVgo from $8.00 to $5.00 and set a "buy" rating on the stock in a research report on Monday, January 27th. Needham & Company LLC reaffirmed a "hold" rating on shares of EVgo in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. cut their price objective on shares of EVgo from $6.00 to $5.00 and set an "overweight" rating on the stock in a report on Wednesday, March 12th. 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 stock. Based on data from MarketBeat.com, EVgo presently has a consensus rating of "Buy" and an average target price of $5.78.

EVgo Trading Down 3.5 %

Shares of NASDAQ EVGO traded down $0.09 during mid-day trading on Monday, reaching $2.46. The company had a trading volume of 2,434,550 shares, compared to its average volume of 4,371,711. The stock has a market cap of $753.55 million, a price-to-earnings ratio of -5.86 and a beta of 2.37. EVgo has a 52 week low of $1.65 and a 52 week high of $9.07. The business's 50-day moving average is $2.86 and its 200-day moving average is $4.67.

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EVgo (NASDAQ:EVGO - Get Free Report) last issued its earnings results on Tuesday, March 4th. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates 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. As a group, equities research analysts forecast that EVgo will post -0.45 earnings per share for the current year.

Insider Buying and Selling

In related news, President Dennis G. Kish sold 44,184 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $3.41, for a total transaction of $150,667.44. Following the completion of the transaction, 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 at this hyperlink. 66.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EVgo

Large investors have recently bought and sold shares of the business. California State Teachers Retirement System increased its holdings in EVgo by 1,198.5% in the 4th quarter. California State Teachers Retirement System now owns 94,761 shares of the company's stock worth $384,000 after acquiring an additional 87,463 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of EVgo during the 4th quarter worth about $1,001,000. Voloridge Investment Management LLC purchased a new position in EVgo in the 4th quarter valued at about $5,682,000. Two Sigma Advisers LP boosted its holdings in EVgo by 2,533.6% in the 4th quarter. Two Sigma Advisers LP now owns 2,494,000 shares of the company's stock worth $10,101,000 after buying an additional 2,399,300 shares during the last quarter. Finally, Two Sigma Investments LP increased its stake in EVgo by 296.4% during the 4th quarter. Two Sigma Investments LP now owns 2,720,342 shares of the company's stock worth $11,017,000 after buying an additional 2,034,045 shares in the last quarter. Institutional investors and hedge funds own 17.44% of the company's stock.

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.