EVgo, Inc. (NYSE:EVGO) Given Average Rating of "Moderate Buy" by Brokerages

EVgo, Inc. (NYSE:EVGO - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eleven research firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $6.17.

EVGO has been the topic of a number of recent research reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $5.00 price target on shares of EVgo in a research note on Monday, September 30th. TD Cowen upgraded shares of EVgo from a "hold" rating to a "buy" rating and increased their target price for the stock from $5.00 to $7.00 in a report on Thursday, October 3rd. JPMorgan Chase & Co. raised shares of EVgo from a "neutral" rating to an "overweight" rating and set a $7.00 price target for the company in a research report on Thursday, October 3rd. Needham & Company LLC reaffirmed a "hold" rating on shares of EVgo in a research report on Thursday, August 29th. Finally, Stifel Nicolaus decreased their target price on EVgo from $7.00 to $6.00 and set a "buy" rating for the company in a report on Tuesday, August 6th.

Insider Transactions at EVgo

In other news, President Dennis G. Kish sold 16,414 shares of the firm's stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $3.60, for a total transaction of $59,090.40. Following the sale, the president now owns 47,614 shares of the company's stock, valued at approximately $171,410.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Francine Sullivan sold 12,584 shares of the business's stock in a transaction 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 directly owns 117,327 shares of the company's stock, valued at $422,377.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Dennis G. Kish sold 16,414 shares of the company's stock in a transaction on Monday, August 12th. The shares were sold at an average price of $3.60, for a total transaction of $59,090.40. Following the completion of the transaction, the president now owns 47,614 shares of the company's stock, valued at $171,410.40. This represents 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.

Institutional Trading of EVgo

Several institutional investors and hedge funds have recently made changes to their positions in EVGO. Marshall Wace LLP raised its position in EVgo by 66.4% in the 2nd quarter. Marshall Wace LLP now owns 1,633,304 shares of the company's stock valued at $4,002,000 after purchasing an additional 651,475 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of EVgo by 0.4% during the first quarter. Vanguard Group Inc. now owns 9,698,722 shares of the company's stock worth $24,344,000 after buying an additional 37,168 shares during the period. Wellington Management Group LLP grew its holdings in shares of EVgo by 34.9% during the fourth quarter. Wellington Management Group LLP now owns 3,675,314 shares of the company's stock worth $13,158,000 after buying an additional 951,272 shares during the last quarter. Bleakley Financial Group LLC acquired a new position in EVgo in the 1st quarter valued at about $36,000. Finally, Tidal Investments LLC raised its stake in EVgo by 32.2% during the 1st quarter. Tidal Investments LLC now owns 317,945 shares of the company's stock valued at $798,000 after acquiring an additional 77,354 shares during the last quarter. 17.44% of the stock is owned by hedge funds and other institutional investors.

EVgo Price Performance

Shares of NYSE:EVGO traded down $0.08 during mid-day trading on Friday, reaching $8.26. 5,371,174 shares of the company were exchanged, compared to its average volume of 4,302,403. EVgo has a 1 year low of $1.65 and a 1 year high of $8.80. The firm's 50-day simple moving average is $4.88 and its 200 day simple moving average is $3.34. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of -21.74 and a beta of 2.58.

EVgo (NYSE:EVGO - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.01. The firm had revenue of $66.62 million for the quarter, compared to analysts' expectations of $59.40 million. The company's quarterly revenue was up 31.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.08) earnings per share. On average, research analysts forecast that EVgo will post -0.4 earnings per share for the current fiscal 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.