EVgo (NASDAQ:EVGO) Stock Price Up 7.5% - What's Next?

EVgo, Inc. (NASDAQ:EVGO - Get Free Report) shot up 7.5% during trading on Monday . The company traded as high as $2.58 and last traded at $2.58. 312,991 shares changed hands during trading, a decline of 93% from the average session volume of 4,430,897 shares. The stock had previously closed at $2.40.

Analysts Set New Price Targets

EVGO has been the subject of a number of recent analyst reports. Stifel Nicolaus lowered their price target on shares of EVgo from $10.00 to $8.00 and set a "buy" rating for the company in a report on Thursday, March 6th. JPMorgan Chase & Co. lowered their target price on EVgo from $6.00 to $5.00 and set an "overweight" rating for the company in a research note on Wednesday, March 12th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $8.00 price target on shares of EVgo in a research note on Wednesday, March 5th. UBS Group lowered their price objective on EVgo from $8.00 to $5.00 and set a "buy" rating for the company in a research note on Monday, January 27th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of EVgo in a research report on Wednesday, March 5th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, EVgo has a consensus rating of "Buy" and a consensus target price of $6.11.

EVgo Stock Performance

The firm has a market cap of $845.45 million, a P/E ratio of -6.57 and a beta of 2.37. The firm has a fifty day moving average of $3.02 and a 200-day moving average of $4.77.

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EVgo (NASDAQ:EVGO - Get Free Report) last issued its quarterly earnings data on Tuesday, March 4th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.04. The business had revenue of $67.51 million for the quarter, compared to analyst estimates of $69.49 million. Equities research analysts expect that EVgo, Inc. will post -0.45 earnings per share for the current year.

Insider Activity

In related news, President Dennis G. Kish sold 17,379 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $4.32, for a total value of $75,077.28. Following the completion of the transaction, the president now owns 13,655 shares in the company, valued at $58,989.60. This represents a 56.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 66.96% of the company's stock.

Institutional Investors Weigh In On EVgo

A number of institutional investors have recently added to or reduced their stakes in EVGO. Mariner LLC acquired a new position in shares of EVgo in the 4th quarter worth approximately $48,000. FORA Capital LLC acquired a new position in EVgo in the fourth quarter worth approximately $56,000. SCP Investment LP bought a new position in shares of EVgo in the fourth quarter valued at $60,000. Clear Harbor Asset Management LLC acquired a new stake in shares of EVgo during the 4th quarter valued at $72,000. Finally, Polymer Capital Management US LLC bought a new stake in shares of EVgo during the 4th quarter worth $73,000. 17.44% of the stock is currently owned by institutional investors and hedge funds.

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.