EVgo, Inc. (NASDAQ:EVGO) Given Consensus Rating of “Buy” by Brokerages

Shares of EVgo, Inc. (NASDAQ:EVGO) have earned a consensus recommendation of “Buy” from the twelve brokerages that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $5.78.

EVGO has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a report on Wednesday, March 5th. Stifel Nicolaus cut their price objective on EVgo from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $8.00 target price on shares of EVgo in a research note on Wednesday, March 5th. JPMorgan Chase & Co. reduced their price target on shares of EVgo from $6.00 to $5.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. Finally, Evercore ISI lowered their price objective on shares of EVgo from $7.00 to $4.00 and set an “outperform” rating for the company in a research report on Monday, March 31st.

Insider Activity

In other news, President Dennis G. Kish sold 44,184 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $3.41, for a total transaction of $150,667.44. Following the completion of the transaction, the president now directly owns 95,986 shares in the company, valued at approximately $327,312.26. The trade was a 31.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 66.96% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EVgo

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of EVgo by 20.1% in the fourth quarter. Vanguard Group Inc. now owns 12,200,949 shares of the company’s stock valued at $49,414,000 after purchasing an additional 2,043,449 shares in the last quarter. D. E. Shaw & Co. Inc. raised its position in EVgo by 175.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 4,949,622 shares of the company’s stock valued at $20,046,000 after buying an additional 3,153,073 shares during the last quarter. Millennium Management LLC lifted its stake in EVgo by 394.4% in the 4th quarter. Millennium Management LLC now owns 4,623,922 shares of the company’s stock valued at $18,727,000 after acquiring an additional 3,688,614 shares in the last quarter. State Street Corp boosted its position in EVgo by 25.3% during the 3rd quarter. State Street Corp now owns 4,192,828 shares of the company’s stock worth $17,358,000 after acquiring an additional 847,777 shares during the last quarter. Finally, SIR Capital Management L.P. grew its stake in shares of EVgo by 326.3% during the 4th quarter. SIR Capital Management L.P. now owns 3,533,645 shares of the company’s stock worth $14,311,000 after acquiring an additional 2,704,662 shares in the last quarter. Institutional investors and hedge funds own 17.44% of the company’s stock.

EVgo Stock Up 7.1 %

Shares of EVGO opened at $2.71 on Friday. The company has a 50-day moving average price of $2.72 and a two-hundred day moving average price of $4.58. The stock has a market cap of $830.14 million, a price-to-earnings ratio of -6.45 and a beta of 2.28. EVgo has a 12 month low of $1.65 and a 12 month high of $9.07.

EVgo (NASDAQ:EVGO) last released its quarterly earnings data on Tuesday, March 4th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.04. The company had revenue of $67.51 million for the quarter, compared to analyst estimates of $69.49 million. Equities research analysts expect that EVgo will post -0.45 EPS 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.