Stifel Nicolaus Has Lowered Expectations for EVgo (NASDAQ:EVGO) Stock Price

EVgo (NASDAQ:EVGO - Free Report) had its price objective decreased by Stifel Nicolaus from $10.00 to $8.00 in a research report report published on Thursday, MarketBeat Ratings reports. Stifel Nicolaus currently has a buy rating on the stock.

EVGO has been the topic of a number of other reports. Cantor Fitzgerald reissued an "overweight" rating and set a $8.00 target price on shares of EVgo in a report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price objective on shares of EVgo from $7.00 to $6.00 and set an "overweight" rating on the stock in a report on Wednesday, February 19th. UBS Group dropped their price objective on shares of EVgo from $8.00 to $5.00 and set a "buy" rating on the stock in a research report on Monday, January 27th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of EVgo in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $6.22.

EVgo Price Performance

NASDAQ EVGO traded down $0.14 on Thursday, hitting $2.44. 5,484,951 shares of the stock were exchanged, compared to its average volume of 4,610,885. The business's fifty day moving average is $3.29 and its 200 day moving average is $4.88. EVgo has a 52 week low of $1.65 and a 52 week high of $9.07. The company has a market capitalization of $739.69 million, a PE ratio of -5.81 and a beta of 2.37.

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EVgo (NASDAQ:EVGO - Get Free Report) last issued its earnings results on Tuesday, March 4th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.15) by $0.04. The firm had revenue of $67.51 million during the quarter, compared to the consensus estimate of $69.49 million. Analysts predict that EVgo will post -0.45 EPS for the current fiscal year.

Insider Activity at EVgo

In other EVgo news, President Dennis G. Kish sold 44,184 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $3.41, for a total value of $150,667.44. Following the sale, the president now owns 95,986 shares in the company, valued at $327,312.26. This trade represents a 31.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director David Nanus sold 23,000,000 shares of the company's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $5.00, for a total transaction of $115,000,000.00. Following the transaction, the director now owns 5,882,352 shares of the company's stock, valued at $29,411,760. This trade represents a 79.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,061,563 shares of company stock valued at $115,225,745 over the last three months. 66.96% of the stock is owned by insiders.

Institutional Investors Weigh In On EVgo

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mariner LLC acquired a new stake in shares of EVgo during the fourth quarter valued at about $48,000. International Assets Investment Management LLC bought a new stake in EVgo during the 3rd quarter worth approximately $51,000. Creative Planning increased its position in EVgo by 32.7% in the 3rd quarter. Creative Planning now owns 13,365 shares of the company's stock valued at $55,000 after acquiring an additional 3,297 shares during the period. FORA Capital LLC bought a new position in shares of EVgo during the fourth quarter valued at $56,000. Finally, Legacy Capital Wealth Partners LLC lifted its holdings in shares of EVgo by 31.8% during the third quarter. Legacy Capital Wealth Partners LLC now owns 14,500 shares of the company's stock worth $60,000 after purchasing an additional 3,500 shares during the period. 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.