EVgo (NYSE:EVGO) Shares Gap Up to $5.61

EVgo, Inc. (NYSE:EVGOGet Rating)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $5.61, but opened at $5.81. EVgo shares last traded at $5.91, with a volume of 13,764 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts recently commented on EVGO shares. JPMorgan Chase & Co. lowered their target price on EVgo from $13.00 to $10.00 and set an “overweight” rating for the company in a research note on Tuesday, October 18th. Cowen reduced their target price on shares of EVgo from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday, October 25th. Credit Suisse Group decreased their price objective on shares of EVgo from $15.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, November 4th. Finally, Northland Securities assumed coverage on EVgo in a report on Friday, October 14th. They issued a “market perform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $11.69.

EVgo Stock Down 10.2 %

The stock has a market capitalization of $1.37 billion, a PE ratio of -9.96 and a beta of 1.55. The business’s 50-day moving average is $5.41 and its two-hundred day moving average is $7.31.

EVgo (NYSE:EVGOGet Rating) last posted its earnings results on Wednesday, November 2nd. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.03). The firm had revenue of $10.51 million during the quarter, compared to analyst estimates of $13.55 million. As a group, analysts anticipate that EVgo, Inc. will post -0.52 EPS for the current year.

Institutional Investors Weigh In On EVgo

Large investors have recently modified their holdings of the company. Almanack Investment Partners LLC. acquired a new stake in EVgo during the 3rd quarter worth $25,000. Ensign Peak Advisors Inc acquired a new stake in shares of EVgo during the third quarter worth about $27,000. Investors Asset Management of Georgia Inc. GA ADV purchased a new position in shares of EVgo during the second quarter worth about $30,000. Lazard Asset Management LLC acquired a new position in EVgo in the 2nd quarter valued at about $30,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in EVgo during the 3rd quarter worth approximately $40,000. 12.95% of the stock is owned by institutional investors and hedge funds.

About EVgo

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EVgo, Inc owns and operates a direct current fast charging network 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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