EVgo (NASDAQ:EVGO) Price Target Lowered to $4.00 at Evercore ISI

EVgo (NASDAQ:EVGO) had its price target reduced by stock analysts at Evercore ISI from $7.00 to $4.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s price objective indicates a potential upside of 41.84% from the stock’s previous close.

EVGO has been the topic of several other reports. Needham & Company LLC restated a “hold” rating on shares of EVgo in a research report on Wednesday, March 5th. UBS Group reduced their target price 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. lowered their price target 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. Finally, Stifel Nicolaus decreased their price objective on shares of EVgo from $10.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Two research 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 MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $5.78.

EVgo Trading Down 2.8 %

EVgo stock opened at $2.82 on Monday. EVgo has a 1 year low of $1.65 and a 1 year high of $9.07. The company’s 50-day moving average is $2.91 and its two-hundred day moving average is $4.73. The company has a market cap of $863.83 million, a PE ratio of -6.71 and a beta of 2.37.

EVgo (NASDAQ:EVGO) last announced its quarterly earnings data on Tuesday, March 4th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.04. The business had revenue of $67.51 million during the quarter, compared to analyst estimates of $69.49 million. Research analysts forecast that EVgo will post -0.45 EPS for the current year.

Insider Buying and Selling at EVgo

In other news, President Dennis G. Kish sold 44,184 shares of the stock in a transaction dated Monday, February 3rd. The shares were 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 in the company, valued at $327,312.26. This represents a 31.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 stock. California State Teachers Retirement System raised its stake in EVgo by 1,198.5% in the fourth quarter. California State Teachers Retirement System now owns 94,761 shares of the company’s stock valued at $384,000 after buying an additional 87,463 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in EVgo in the 4th quarter valued at $1,001,000. Voloridge Investment Management LLC bought a new position in EVgo during the 4th quarter worth $5,682,000. Two Sigma Advisers LP boosted its position in shares of EVgo by 2,533.6% in the fourth quarter. Two Sigma Advisers LP now owns 2,494,000 shares of the company’s stock valued at $10,101,000 after acquiring an additional 2,399,300 shares during the period. Finally, Two Sigma Investments LP grew its stake in shares of EVgo by 296.4% in the fourth quarter. Two Sigma Investments LP now owns 2,720,342 shares of the company’s stock valued at $11,017,000 after acquiring an additional 2,034,045 shares in the last quarter. 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.