EVgo, Inc. (NYSE:EVGO) Receives $6.61 Consensus Target Price from Analysts

EVgo, Inc. (NYSE:EVGO - Get Free Report) has received a consensus rating of "Buy" from the twelve research firms that are covering the stock, MarketBeat reports. Two 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 company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $6.61.

EVGO has been the topic of a number of recent research reports. Marathon Capitl raised EVgo from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 22nd. Needham & Company LLC restated a "hold" rating on shares of EVgo in a research report on Wednesday. UBS Group upgraded EVgo from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $4.00 to $8.50 in a research report on Thursday, October 10th. TD Cowen upgraded EVgo from a "hold" rating to a "buy" rating and raised their price objective for the stock from $5.00 to $7.00 in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada increased their price target on EVgo from $4.00 to $8.00 and gave the stock an "outperform" rating in a report on Wednesday, October 9th.

Hedge Funds Weigh In On EVgo

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

EVgo Stock Down 2.9 %

NYSE EVGO traded down $0.15 during trading on Thursday, hitting $5.05. The company's stock had a trading volume of 6,408,002 shares, compared to its average volume of 4,563,562. The firm has a market cap of $1.53 billion, a P/E ratio of -12.02 and a beta of 2.38. The firm has a 50 day moving average price of $6.10 and a 200 day moving average price of $4.02. EVgo has a 52 week low of $1.65 and a 52 week high of $9.07.

EVgo (NYSE:EVGO - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $67.50 million for the quarter, compared to analysts' expectations of $66.52 million. During the same period in the previous year, the firm earned ($0.09) EPS. The company's quarterly revenue was up 92.3% on a year-over-year basis. On average, equities analysts expect 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.