EVgo (NYSE:EVGO) Coverage Initiated at UBS Group

UBS Group assumed coverage on shares of EVgo (NYSE:EVGO) in a report released on Monday, MarketBeat Ratings reports. The firm issued a neutral rating and a $4.00 target price on the stock.

A number of other research analysts have also recently weighed in on the company. Cantor Fitzgerald restated an overweight rating and issued a $4.00 price target on shares of EVgo in a research report on Monday, July 15th. Royal Bank of Canada restated an outperform rating and issued a $4.00 price target on shares of EVgo in a research report on Friday, April 5th. Needham & Company LLC restated a hold rating on shares of EVgo in a research report on Wednesday, May 8th. Citigroup dropped their price target on EVgo from $3.00 to $2.00 and set a neutral rating for the company in a research report on Thursday, May 9th. Finally, Evercore ISI decreased their price objective on EVgo from $8.00 to $7.00 and set an outperform rating on the stock in a research note on Monday, May 13th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $4.29.

EVgo Stock Performance

NYSE:EVGO opened at $3.75 on Monday. The stock has a fifty day moving average price of $2.55 and a two-hundred day moving average price of $2.42. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -9.87 and a beta of 2.58. EVgo has a 1 year low of $1.65 and a 1 year high of $5.95.

EVgo (NYSE:EVGO) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.02. The business had revenue of $55.16 million during the quarter, compared to analysts’ expectations of $52.41 million. The company’s revenue was up 118.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.09) EPS. On average, analysts predict that EVgo will post -0.38 EPS for the current year.

Insider Transactions at EVgo

In other news, CEO Badar Khan acquired 125,000 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were bought at an average cost of $2.01 per share, for a total transaction of $251,250.00. Following the acquisition, the chief executive officer now directly owns 143,874 shares in the company, valued at approximately $289,186.74. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 66.96% of the company’s stock.

Institutional Investors Weigh In On EVgo

Several hedge funds have recently modified their holdings of EVGO. Voisard Asset Management Group Inc. purchased a new stake in shares of EVgo during the 4th quarter valued at about $29,000. Simplicity Wealth LLC purchased a new stake in shares of EVgo during the 1st quarter valued at about $36,000. Bleakley Financial Group LLC purchased a new stake in shares of EVgo during the 1st quarter valued at about $36,000. SG Americas Securities LLC purchased a new stake in shares of EVgo during the 1st quarter valued at about $41,000. Finally, Sippican Capital Advisors purchased a new stake in shares of EVgo during the 4th quarter valued at about $43,000. 17.44% of the stock is currently owned by hedge funds and other institutional investors.

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.