Analysts Set EVgo, Inc. (NASDAQ:EVGO) PT at $6.11

EVgo, Inc. (NASDAQ:EVGO) has been given a consensus rating of “Buy” by the twelve ratings firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $6.11.

Several equities research analysts have issued reports on EVGO shares. UBS Group dropped their price objective on EVgo from $8.00 to $5.00 and set a “buy” rating on the stock in a report on Monday, January 27th. JPMorgan Chase & Co. dropped their price target on shares of EVgo from $6.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Stifel Nicolaus reduced their price objective on shares of EVgo from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Needham & Company LLC reissued a “hold” rating on shares of EVgo in a report on Wednesday, March 5th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $8.00 target price on shares of EVgo in a research note on Wednesday, March 5th.

Insider Buying and Selling

In other news, President Dennis G. Kish sold 44,184 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $3.41, for a total transaction of $150,667.44. Following the completion of the transaction, the president now directly owns 95,986 shares of the company’s stock, valued at approximately $327,312.26. This represents a 31.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 66.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mariner LLC bought a new stake in EVgo in the fourth quarter valued at $48,000. FORA Capital LLC acquired a new stake in shares of EVgo in the 4th quarter worth about $56,000. SCP Investment LP bought a new stake in EVgo in the 4th quarter valued at about $60,000. Clear Harbor Asset Management LLC acquired a new position in EVgo during the 4th quarter valued at about $72,000. Finally, Polymer Capital Management US LLC bought a new position in EVgo in the 4th quarter worth about $73,000. Institutional investors and hedge funds own 17.44% of the company’s stock.

EVgo Trading Up 1.1 %

Shares of EVGO stock opened at $2.85 on Wednesday. The firm has a fifty day simple moving average of $2.96 and a 200-day simple moving average of $4.75. The company has a market capitalization of $873.02 million, a PE ratio of -6.79 and a beta of 2.37. EVgo has a twelve month low of $1.65 and a twelve month high of $9.07.

EVgo (NASDAQ:EVGO) last posted its quarterly earnings data on Tuesday, March 4th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.04. The firm had revenue of $67.51 million during the quarter, compared to analysts’ expectations of $69.49 million. Equities research analysts predict that EVgo will post -0.45 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.