EVgo (NYSE:EVGO) Rating Reiterated by Royal Bank of Canada

EVgo (NYSE:EVGO)‘s stock had its “outperform” rating reaffirmed by Royal Bank of Canada in a research note issued on Friday, Benzinga reports. They currently have a $4.00 price target on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 86.92% from the stock’s previous close.

A number of other brokerages have also commented on EVGO. Citigroup cut their price target on EVgo from $5.25 to $3.50 and set a “neutral” rating on the stock in a report on Friday, December 8th. Evercore ISI cut their price target on EVgo from $9.00 to $8.00 and set an “outperform” rating on the stock in a report on Thursday, March 7th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $5.00 price target on shares of EVgo in a report on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $5.19.

EVgo Trading Down 2.3 %

EVGO stock opened at $2.14 on Friday. The business’s 50-day moving average price is $2.47 and its two-hundred day moving average price is $2.81. The firm has a market cap of $645.25 million, a PE ratio of -4.55 and a beta of 2.45. EVgo has a 1-year low of $1.88 and a 1-year high of $6.77.

EVgo (NYSE:EVGO) last posted its earnings results on Wednesday, March 6th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.05. The business had revenue of $50.00 million for the quarter, compared to the consensus estimate of $44.39 million. The business’s revenue was up 83.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. On average, analysts forecast that EVgo will post -0.37 earnings per share for the current year.

Insider Activity at EVgo

In related news, President Dennis G. Kish sold 34,717 shares of EVgo stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total value of $104,151.00. The transaction was disclosed in a filing with the SEC, which is available at this link. In other EVgo news, President Dennis G. Kish sold 34,717 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total value of $104,151.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Olga Shevorenkova sold 19,363 shares of the company’s stock in a transaction that occurred 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 owns 81,991 shares in the company, valued at approximately $245,973. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,002 shares of company stock valued at $234,693. 74.52% of the stock is owned by insiders.

Institutional Trading of EVgo

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in EVgo by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 9,661,554 shares of the company’s stock valued at $34,588,000 after buying an additional 160,227 shares during the period. Wellington Management Group LLP grew its position in EVgo by 34.9% during the fourth quarter. Wellington Management Group LLP now owns 3,675,314 shares of the company’s stock worth $13,158,000 after buying an additional 951,272 shares in the last quarter. Voisard Asset Management Group Inc. acquired a new stake in EVgo during the fourth quarter worth approximately $29,000. Price T Rowe Associates Inc. MD grew its position in EVgo by 34.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 56,759 shares of the company’s stock worth $204,000 after buying an additional 14,597 shares in the last quarter. Finally, Barclays PLC grew its position in EVgo by 23.7% during the fourth quarter. Barclays PLC now owns 142,070 shares of the company’s stock worth $509,000 after buying an additional 27,241 shares in the last quarter. Institutional investors own 17.44% of the company’s stock.

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.