EVgo, Inc. (NYSE:EVGO – Get 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.
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.
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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