EVgo (NYSE:EVGO) Receives “Hold” Rating from Needham & Company LLC

EVgo (NYSE:EVGO)‘s stock had its “hold” rating reaffirmed by stock analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports.

Other equities research analysts have also issued reports about the company. UBS Group upgraded EVgo from a “neutral” rating to a “buy” rating and lifted their price target for the company from $4.00 to $8.50 in a report on Thursday, October 10th. 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. TD Cowen raised EVgo from a “hold” rating to a “buy” rating and raised their price objective for the company from $5.00 to $7.00 in a research note on Thursday, October 3rd. Stifel Nicolaus raised their price objective on EVgo from $6.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Marathon Capitl raised EVgo from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Two investment 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $6.61.

EVgo Trading Up 4.0 %

Shares of EVGO opened at $3.89 on Thursday. The business’s 50-day moving average price is $5.30 and its 200 day moving average price is $5.00. The stock has a market capitalization of $1.18 billion, a P/E ratio of -9.26 and a beta of 2.35. EVgo has a 1-year low of $1.65 and a 1-year high of $9.07.

EVgo (NYSE:EVGO) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The business had revenue of $67.50 million during the quarter, compared to analysts’ expectations of $66.52 million. During the same period in the previous year, the firm earned ($0.09) EPS. The company’s revenue for the quarter was up 92.3% on a year-over-year basis. On average, research analysts predict that EVgo will post -0.45 earnings per share for the current year.

Insider Activity

In related news, President Dennis G. Kish sold 17,379 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $4.32, for a total value of $75,077.28. Following the sale, the president now owns 13,655 shares of the company’s stock, valued at $58,989.60. The trade was a 56.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Nanus sold 23,000,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $5.00, for a total value of $115,000,000.00. Following the completion of the sale, the director now directly owns 5,882,352 shares in the company, valued at approximately $29,411,760. This represents a 79.63 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,184,104 shares of company stock worth $115,932,044. Company insiders own 66.96% of the company’s stock.

Institutional Trading of EVgo

Institutional investors have recently bought and sold shares of the stock. Point72 DIFC Ltd acquired a new stake in EVgo in the 2nd quarter valued at $45,000. International Assets Investment Management LLC acquired a new position in EVgo in the third quarter worth $51,000. Creative Planning boosted its stake in EVgo by 32.7% in the third quarter. Creative Planning now owns 13,365 shares of the company’s stock worth $55,000 after purchasing an additional 3,297 shares in the last quarter. Legacy Capital Wealth Partners LLC boosted its stake in EVgo by 31.8% in the third quarter. Legacy Capital Wealth Partners LLC now owns 14,500 shares of the company’s stock worth $60,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Blueshift Asset Management LLC acquired a new position in EVgo in the third quarter worth $80,000. Institutional investors and hedge funds 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.