EVgo, Inc. (NYSE:EVGO) Receives $6.61 Consensus Target Price from Analysts

Shares of EVgo, Inc. (NYSE:EVGO) have earned a consensus rating of “Buy” from the twelve analysts that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $6.61.

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on EVgo from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. Royal Bank of Canada lifted their target price on shares of EVgo from $4.00 to $8.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Marathon Capitl raised EVgo from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Capital One Financial raised shares of EVgo to a “strong-buy” rating in a research report on Monday, September 16th. Finally, TD Cowen raised EVgo from a “hold” rating to a “buy” rating and lifted their target price for the company from $5.00 to $7.00 in a research report on Thursday, October 3rd.

Insider Activity at EVgo

In other news, President Dennis G. Kish sold 17,379 shares of EVgo stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $4.32, for a total transaction of $75,077.28. Following the transaction, the president now directly owns 13,655 shares in the company, valued at approximately $58,989.60. This trade represents a 56.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Nanus sold 23,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $5.00, for a total transaction of $115,000,000.00. Following the sale, the director now owns 5,882,352 shares of the company’s stock, valued at $29,411,760. The trade was a 79.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,184,104 shares of company stock valued at $115,932,044 in the last quarter. Insiders own 66.96% of the company’s stock.

Institutional Trading of EVgo

A number of institutional investors have recently added to or reduced their stakes in the business. Creative Planning lifted its position in shares of EVgo by 32.7% during the 3rd quarter. Creative Planning now owns 13,365 shares of the company’s stock worth $55,000 after purchasing an additional 3,297 shares during the last quarter. Legacy Capital Wealth Partners LLC increased its holdings in EVgo by 31.8% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 14,500 shares of the company’s stock valued at $60,000 after purchasing an additional 3,500 shares in the last quarter. Janus Henderson Group PLC grew its holdings in EVgo by 20.2% during the 3rd quarter. Janus Henderson Group PLC now owns 52,416 shares of the company’s stock worth $217,000 after acquiring an additional 8,800 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of EVgo by 9.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 122,945 shares of the company’s stock valued at $509,000 after purchasing an additional 10,532 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of EVgo during the third quarter worth $51,000. 17.44% of the stock is currently owned by institutional investors and hedge funds.

EVgo Price Performance

Shares of NYSE EVGO opened at $4.46 on Friday. EVgo has a 1-year low of $1.65 and a 1-year high of $9.07. The stock has a market capitalization of $1.35 billion, a P/E ratio of -10.62 and a beta of 2.35. The business has a fifty day moving average price of $5.68 and a 200 day moving average price of $4.95.

EVgo (NYSE:EVGO) last released its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The company had revenue of $67.50 million during the quarter, compared to analysts’ expectations of $66.52 million. During the same quarter last year, the firm posted ($0.09) earnings per share. EVgo’s revenue for the quarter was up 92.3% compared to the same quarter last year. As a group, equities research analysts anticipate that EVgo will post -0.41 earnings per share for the current fiscal 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.