EVgo (NYSE:EVGO) Receives New Coverage from Analysts at Stifel Nicolaus

Stifel Nicolaus started coverage on shares of EVgo (NYSE:EVGO – Get Rating) in a research note issued to investors on Tuesday morning, The Fly reports. The brokerage issued a buy rating on the stock.

EVGO has been the subject of several other research reports. JPMorgan Chase & Co. downgraded shares of EVgo from an overweight rating to a neutral rating and dropped their target price for the company from $10.00 to $6.00 in a report on Thursday, January 26th. Cantor Fitzgerald restated an overweight rating and issued a $10.00 price objective on shares of EVgo in a research note on Friday, March 31st. Finally, Evercore ISI dropped their price target on shares of EVgo from $16.00 to $14.00 and set an outperform rating on the stock in a research note on Friday, March 31st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $9.58.

EVgo Trading Down 1.2 %

EVGO opened at $5.73 on Tuesday. EVgo has a 12-month low of $3.64 and a 12-month high of $12.65. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -15.49 and a beta of 2.00. The company’s 50 day moving average is $6.06 and its 200 day moving average is $5.95.

EVgo (NYSE:EVGO – Get Rating) last posted its earnings results on Thursday, March 30th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.08. The company had revenue of $27.30 million for the quarter, compared to analysts’ expectations of $20.16 million. The firm’s quarterly revenue was up 284.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 EPS. As a group, analysts predict that EVgo will post -0.98 EPS for the current fiscal year.

Hedge Funds Weigh In On EVgo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EVGO. Charles Schwab Investment Management Inc. raised its holdings in shares of EVgo by 4.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 28,193 shares of the company’s stock valued at $363,000 after acquiring an additional 1,147 shares in the last quarter. Creative Planning lifted its position in shares of EVgo by 3.4% in the second quarter. Creative Planning now owns 57,234 shares of the company’s stock worth $344,000 after buying an additional 1,904 shares in the last quarter. ETF Managers Group LLC lifted its stake in shares of EVgo by 3.8% during the 4th quarter. ETF Managers Group LLC now owns 55,292 shares of the company’s stock worth $247,000 after acquiring an additional 2,012 shares during the last quarter. Royal Bank of Canada increased its holdings in EVgo by 1.1% during the 1st quarter. Royal Bank of Canada now owns 193,474 shares of the company’s stock worth $2,488,000 after purchasing an additional 2,121 shares during the period. Finally, Credit Suisse AG increased its holdings in shares of EVgo by 7.0% in the 2nd quarter. Credit Suisse AG now owns 32,698 shares of the company’s stock valued at $197,000 after acquiring an additional 2,150 shares during the period. 12.95% of the stock is owned by institutional investors.

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.