EVgo, Inc. (NYSE:EVGO - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $6.09, but opened at $5.92. EVgo shares last traded at $5.93, with a volume of 1,414,497 shares trading hands.
Analyst Ratings Changes
A number of analysts have recently commented on the company. UBS Group raised 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 note on Thursday, October 10th. Stifel Nicolaus boosted their target price on EVgo from $6.00 to $10.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $5.00 price objective on shares of EVgo in a research report on Monday, September 30th. Royal Bank of Canada boosted their price target on EVgo from $4.00 to $8.00 and gave the company an "outperform" rating in a research note on Wednesday, October 9th. Finally, Capital One Financial upgraded EVgo to a "strong-buy" rating in a research note on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, EVgo currently has a consensus rating of "Buy" and a consensus target price of $6.61.
Read Our Latest Stock Analysis on EVgo
EVgo Stock Performance
The company has a market cap of $1.92 billion, a P/E ratio of -14.50 and a beta of 2.24. The stock has a 50-day moving average of $6.86 and a two-hundred day moving average of $4.67.
EVgo (NYSE:EVGO - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.01). The firm had revenue of $67.50 million during the quarter, compared to analysts' expectations of $66.52 million. The business's revenue was up 92.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.09) EPS. As a group, sell-side analysts forecast that EVgo, Inc. will post -0.41 EPS for the current fiscal year.
Insider Activity at EVgo
In other news, CEO Badar Khan sold 166,725 shares of EVgo stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $5.14, for a total transaction of $856,966.50. Following the sale, the chief executive officer now owns 348,761 shares in the company, valued at $1,792,631.54. This trade represents a 32.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 66.96% of the stock is owned by company insiders.
Hedge Funds Weigh In On EVgo
Institutional investors have recently bought and sold shares of the stock. Legacy Capital Wealth Partners LLC bought a new position in shares of EVgo during the 2nd quarter valued at about $27,000. Point72 DIFC Ltd purchased a new stake in shares of EVgo in the second quarter worth about $45,000. International Assets Investment Management LLC purchased a new stake in shares of EVgo in the third quarter worth about $51,000. Creative Planning boosted its stake in EVgo by 32.7% during the third quarter. Creative Planning now owns 13,365 shares of the company's stock valued at $55,000 after buying an additional 3,297 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in EVgo by 47.0% during the 2nd quarter. SG Americas Securities LLC now owns 24,049 shares of the company's stock valued at $59,000 after buying an additional 7,687 shares in the last quarter. 17.44% of the stock is owned by hedge funds and other institutional investors.
EVgo Company Profile
(
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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