Analysts Set EVgo, Inc. (NYSE:EVGO) PT at $5.19

Shares of EVgo, Inc. (NYSE:EVGO) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $5.19.

EVGO has been the topic of several analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $4.00 target price on shares of EVgo in a research report on Friday, April 5th. Evercore ISI reduced their price objective on EVgo from $9.00 to $8.00 and set an “outperform” rating on the stock in a report on Thursday, March 7th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $5.00 price objective on shares of EVgo in a report on Thursday, March 7th.

EVgo Stock Performance

Shares of NYSE:EVGO opened at $1.81 on Friday. EVgo has a 52-week low of $1.65 and a 52-week high of $6.48. The stock has a market capitalization of $545.75 million, a price-to-earnings ratio of -3.85 and a beta of 2.45. The stock’s 50-day simple moving average is $2.31 and its two-hundred day simple moving average is $2.64.

EVgo (NYSE:EVGO) last issued its earnings results on Wednesday, March 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.05. The business had revenue of $50.00 million for the quarter, compared to the consensus estimate of $44.39 million. The firm’s revenue for the quarter was up 83.2% compared to the same quarter last year. During the same period last year, the business posted ($0.06) EPS. As a group, equities analysts forecast that EVgo will post -0.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, President Dennis G. Kish sold 34,717 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total value of $104,151.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Olga Shevorenkova sold 29,772 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $2.26, for a total value of $67,284.72. Following the transaction, the chief financial officer now directly owns 154,989 shares in the company, valued at $350,275.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Dennis G. Kish sold 34,717 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $3.00, for a total value of $104,151.00. The disclosure for this sale can be found here. In the last three months, insiders sold 86,002 shares of company stock worth $234,693. Corporate insiders own 66.96% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Voisard Asset Management Group Inc. acquired a new stake in shares of EVgo in the fourth quarter valued at $29,000. Headlands Technologies LLC purchased a new position in shares of EVgo during the third quarter worth about $32,000. Verdence Capital Advisors LLC purchased a new position in shares of EVgo during the third quarter worth about $34,000. Sigma Planning Corp purchased a new position in shares of EVgo during the third quarter worth about $36,000. Finally, Sippican Capital Advisors purchased a new position in shares of EVgo during the fourth quarter worth about $43,000. 17.44% of the stock is currently 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.