EVgo, Inc. (NASDAQ:EVGO) Receives $6.11 Average Target Price from Brokerages

EVgo, Inc. (NASDAQ:EVGO) has been given an average recommendation of “Buy” by the twelve brokerages that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $6.11.

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

EVgo Stock Performance

Shares of EVGO opened at $2.85 on Wednesday. EVgo has a one year low of $1.65 and a one year high of $9.07. The stock’s fifty day moving average is $2.96 and its 200-day moving average is $4.75. The firm has a market capitalization of $873.02 million, a price-to-earnings ratio of -6.79 and a beta of 2.37.

EVgo (NASDAQ:EVGO) last released its quarterly earnings results on Tuesday, March 4th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.04. The company had revenue of $67.51 million for the quarter, compared to the consensus estimate of $69.49 million. Analysts forecast that EVgo will post -0.45 EPS for the current fiscal year.

Insider Buying and Selling

In other news, President Dennis G. Kish sold 44,184 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $3.41, for a total value of $150,667.44. Following the completion of the sale, the president now owns 95,986 shares in the company, valued at $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 is available at this link. Company insiders own 66.96% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Mariner LLC purchased a new position in EVgo during the 4th quarter valued at about $48,000. FORA Capital LLC acquired a new stake in shares of EVgo during the fourth quarter worth approximately $56,000. SCP Investment LP purchased a new position in EVgo during the fourth quarter valued at approximately $60,000. Clear Harbor Asset Management LLC acquired a new position in EVgo in the 4th quarter valued at approximately $72,000. Finally, Polymer Capital Management US LLC purchased a new stake in EVgo in the 4th quarter worth approximately $73,000. 17.44% of the stock is owned by institutional investors and hedge funds.

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.