Brokerages Set EVgo, Inc. (NYSE:EVGO) PT at $6.61

Shares of EVgo, Inc. (NYSE:EVGO) have been given a consensus rating of “Buy” by the twelve analysts that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $6.61.

Several analysts recently weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $5.00 price objective on shares of EVgo in a research note on Monday, September 30th. Marathon Capitl upgraded EVgo from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada upped their target price on EVgo from $4.00 to $8.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. decreased their target price on shares of EVgo from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. Finally, UBS Group upgraded shares of EVgo from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $4.00 to $8.50 in a research report on Thursday, October 10th.

Insider Buying and Selling

In other news, Director David Nanus sold 23,000,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $5.00, for a total transaction of $115,000,000.00. Following the completion of the sale, the director now directly owns 5,882,352 shares of the company’s stock, valued at $29,411,760. The trade was a 79.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Dennis G. Kish sold 17,379 shares of EVgo stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $4.32, for a total value of $75,077.28. Following the transaction, the president now owns 13,655 shares of the company’s stock, valued at $58,989.60. This trade represents a 56.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,184,104 shares of company stock valued at $115,932,044. 66.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On EVgo

Several institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its holdings 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. Marshall Wace LLP lifted its position in shares of EVgo by 66.4% during the second quarter. Marshall Wace LLP now owns 1,633,304 shares of the company’s stock valued at $4,002,000 after purchasing an additional 651,475 shares in the last quarter. Geode Capital Management LLC boosted its holdings in EVgo by 3.9% during the third quarter. Geode Capital Management LLC now owns 2,419,863 shares of the company’s stock worth $10,020,000 after purchasing an additional 90,887 shares during the last quarter. International Assets Investment Management LLC bought a new stake in EVgo in the 3rd quarter worth about $51,000. Finally, Verition Fund Management LLC purchased a new stake in EVgo in the 3rd quarter valued at about $653,000. Institutional investors own 17.44% of the company’s stock.

EVgo Stock Down 7.4 %

Shares of EVGO opened at $4.13 on Friday. The stock has a market cap of $1.25 billion, a PE ratio of -9.83 and a beta of 2.35. EVgo has a 12-month low of $1.65 and a 12-month high of $9.07. The business has a 50-day simple moving average of $5.52 and a two-hundred day simple moving average of $4.94.

EVgo (NYSE:EVGO) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The company had revenue of $67.50 million for the quarter, compared to analyst estimates of $66.52 million. During the same period in the previous year, the business posted ($0.09) EPS. EVgo’s revenue was up 92.3% compared to the same quarter last year. On average, equities research analysts expect that EVgo will post -0.41 EPS for the current 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.