EVgo, Inc. (NYSE:EVGO) Given Average Rating of “Moderate Buy” by Brokerages

Shares of EVgo, Inc. (NYSE:EVGO) have been given a consensus rating of “Moderate Buy” by the six analysts that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $5.19.

EVGO has been the topic of several recent analyst reports. Evercore ISI dropped their target price on shares of EVgo from $9.00 to $8.00 and set an “outperform” rating on the stock in a report on Thursday, March 7th. Royal Bank of Canada restated an “outperform” rating and issued a $4.00 target price on shares of EVgo in a report on Friday, April 5th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $5.00 target price on shares of EVgo in a report on Thursday, March 7th.

Insider Buying and Selling at EVgo

In other EVgo news, CFO Olga Shevorenkova sold 19,363 shares of EVgo stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $3.00, for a total value of $58,089.00. Following the completion of the sale, the chief financial officer now directly owns 81,991 shares of the company’s stock, valued at $245,973. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, President Dennis G. Kish sold 34,717 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $3.00, for a total transaction of $104,151.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Olga Shevorenkova sold 19,363 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total transaction of $58,089.00. Following the sale, the chief financial officer now directly owns 81,991 shares of the company’s stock, valued at $245,973. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,002 shares of company stock valued at $234,693. Corporate insiders own 66.96% of the company’s stock.

Institutional Investors Weigh In On EVgo

Several hedge funds and other institutional investors have recently made changes to their positions in EVGO. Voisard Asset Management Group Inc. purchased a new position in EVgo during the fourth quarter worth about $29,000. Headlands Technologies LLC purchased a new position in EVgo during the third quarter worth about $32,000. Verdence Capital Advisors LLC purchased a new position in EVgo during the third quarter worth about $34,000. Sigma Planning Corp purchased a new position in EVgo during the third quarter worth about $36,000. Finally, Simplicity Wealth LLC purchased a new position in EVgo during the first quarter worth about $36,000. 17.44% of the stock is owned by institutional investors.

EVgo Stock Performance

Shares of NYSE:EVGO opened at $1.81 on Friday. The firm has a market cap of $545.74 million, a PE ratio of -3.85 and a beta of 2.45. The firm’s fifty day moving average is $2.34 and its 200-day moving average is $2.66. EVgo has a 52 week low of $1.65 and a 52 week high of $6.48.

EVgo (NYSE:EVGO) last released its earnings results on Wednesday, March 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.05. The firm had revenue of $50.00 million during the quarter, compared to analyst estimates of $44.39 million. EVgo’s quarterly revenue was up 83.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.06) EPS. Sell-side analysts forecast that EVgo will post -0.37 EPS for the current year.

About EVgo

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.