EVgo, Inc. (NYSE:EVGO) Receives Consensus Rating of "Buy" from Brokerages

EVgo, Inc. (NYSE:EVGO - Get Free Report) has earned an average rating of "Buy" from the twelve ratings firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $6.61.

Several brokerages have recently commented on EVGO. Cantor Fitzgerald reissued an "overweight" rating and set a $5.00 price objective on shares of EVgo in a report on Monday, September 30th. Capital One Financial raised EVgo to a "strong-buy" rating in a report on Monday, September 16th. Royal Bank of Canada boosted their target price on EVgo from $4.00 to $8.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upgraded EVgo from a "neutral" rating to an "overweight" rating and set a $7.00 target price for the company in a research report on Thursday, October 3rd. Finally, Marathon Capitl upgraded EVgo from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 22nd.

Insider Buying and Selling at EVgo

In other EVgo news, CEO Badar Khan sold 166,725 shares of the business'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 completion of the sale, the chief executive officer now owns 348,761 shares in the company, valued at approximately $1,792,631.54. The trade was a 32.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 66.96% of the company's stock.

Hedge Funds Weigh In On EVgo

Several hedge funds have recently made changes to their positions in EVGO. State Street Corp increased its stake in shares of EVgo by 25.3% during the third quarter. State Street Corp now owns 4,192,828 shares of the company's stock valued at $17,358,000 after buying an additional 847,777 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of EVgo during the second quarter valued at approximately $1,749,000. Marshall Wace LLP increased its stake in shares of EVgo by 66.4% during the second quarter. Marshall Wace LLP now owns 1,633,304 shares of the company's stock valued at $4,002,000 after buying an additional 651,475 shares during the period. SIR Capital Management L.P. increased its stake in shares of EVgo by 76.9% during the second quarter. SIR Capital Management L.P. now owns 958,600 shares of the company's stock valued at $2,349,000 after buying an additional 416,800 shares during the period. Finally, HITE Hedge Asset Management LLC increased its stake in shares of EVgo by 105.0% during the third quarter. HITE Hedge Asset Management LLC now owns 413,906 shares of the company's stock valued at $1,714,000 after buying an additional 212,004 shares during the period. 17.44% of the stock is owned by hedge funds and other institutional investors.

EVgo Price Performance

EVGO stock traded up $0.24 during mid-day trading on Monday, reaching $6.61. 4,001,900 shares of the company traded hands, compared to its average volume of 4,622,817. The company has a market capitalization of $2.00 billion, a P/E ratio of -15.74 and a beta of 2.24. EVgo has a 52-week low of $1.65 and a 52-week high of $9.07. The company has a fifty day moving average price of $6.73 and a 200-day moving average price of $4.52.

EVgo (NYSE:EVGO - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $66.52 million. During the same period last year, the firm earned ($0.09) earnings per share. The company's quarterly revenue was up 92.3% compared to the same quarter last year. As a group, analysts forecast that EVgo will post -0.41 EPS for the current year.

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.