EVgo (NYSE:EVGO) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

EVgo (NYSE:EVGO - Free Report) had its target price hoisted by Stifel Nicolaus from $6.00 to $10.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also weighed in on EVGO. TD Cowen raised EVgo from a "hold" rating to a "buy" rating and raised their price objective for the company from $5.00 to $7.00 in a research report on Thursday, October 3rd. Marathon Capitl upgraded EVgo from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. upgraded EVgo from a "neutral" rating to an "overweight" rating and set a $7.00 target price on the stock in a research note on Thursday, October 3rd. Cantor Fitzgerald reiterated an "overweight" rating and set a $5.00 target price on shares of EVgo in a research note on Monday, September 30th. Finally, UBS Group upgraded EVgo from a "neutral" rating to a "buy" rating and raised their price target for the stock from $4.00 to $8.50 in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, EVgo has a consensus rating of "Buy" and a consensus target price of $6.61.

EVgo Stock Performance

EVGO stock traded down $0.10 during trading on Wednesday, hitting $8.27. 3,435,809 shares of the company traded hands, compared to its average volume of 4,313,944. EVgo has a 1 year low of $1.65 and a 1 year high of $9.07. The company has a 50-day moving average of $5.64 and a 200-day moving average of $3.68. The firm has a market capitalization of $2.50 billion, a PE ratio of -21.76 and a beta of 2.58.

EVgo (NYSE:EVGO - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.01. The business had revenue of $66.62 million during the quarter, compared to analysts' expectations of $59.40 million. During the same quarter last year, the business posted ($0.08) EPS. The company's quarterly revenue was up 31.8% compared to the same quarter last year. Sell-side analysts expect that EVgo will post -0.4 EPS for the current year.

Insider Transactions at EVgo

In other EVgo news, insider Francine Sullivan sold 12,584 shares of the business's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $3.60, for a total transaction of $45,302.40. Following the completion of the transaction, the insider now owns 117,327 shares in the company, valued at $422,377.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, President Dennis G. Kish sold 16,414 shares of the business's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $3.60, for a total value of $59,090.40. Following the completion of the sale, the president now owns 47,614 shares in the company, valued at approximately $171,410.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Francine Sullivan sold 12,584 shares of the business's stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $3.60, for a total value of $45,302.40. Following the completion of the sale, the insider now owns 117,327 shares of the company's stock, valued at $422,377.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 66.96% of the company's stock.

Hedge Funds Weigh In On EVgo

A number of large investors have recently bought and sold shares of EVGO. Legacy Capital Wealth Partners LLC acquired a new position in shares of EVgo in the 2nd quarter valued at $27,000. Bleakley Financial Group LLC purchased a new stake in EVgo in the first quarter valued at $36,000. SG Americas Securities LLC purchased a new stake in shares of EVgo during the 1st quarter worth about $41,000. Point72 DIFC Ltd purchased a new stake in shares of EVgo during the 2nd quarter worth about $45,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of EVgo during the 3rd quarter worth about $51,000. Institutional investors 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.