EVgo, Inc. (NYSE:EVGO) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

EVgo, Inc. (NYSE:EVGO) has received a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $4.63.

EVGO has been the subject of several recent research reports. Evercore ISI dropped their price target on shares of EVgo from $8.00 to $7.00 and set an “outperform” rating for the company in a research report on Monday, May 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $5.00 price objective on shares of EVgo in a report on Tuesday. Benchmark raised their price objective on shares of EVgo from $3.00 to $5.00 and gave the stock a “buy” rating in a report on Friday, July 12th. UBS Group began coverage on shares of EVgo in a report on Monday, July 22nd. They set a “neutral” rating and a $4.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a report on Thursday, August 29th.

Insider Activity

In other news, insider Francine Sullivan sold 12,584 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $3.60, for a total transaction of $45,302.40. Following the sale, the insider now directly owns 117,327 shares of the company’s stock, valued at $422,377.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Francine Sullivan sold 12,584 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $3.60, for a total transaction of $45,302.40. Following the sale, the insider now directly owns 117,327 shares of the company’s stock, valued at $422,377.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Dennis G. Kish sold 16,414 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $3.60, for a total transaction of $59,090.40. Following the sale, the president now directly owns 47,614 shares in the company, valued at $171,410.40. The disclosure for this sale can be found here. Insiders have sold 31,475 shares of company stock valued at $110,189 over the last three months. 66.96% of the stock is owned by insiders.

Hedge Funds Weigh In On EVgo

Hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC bought a new position in EVgo in the fourth quarter valued at approximately $580,000. Handelsbanken Fonder AB bought a new position in EVgo in the fourth quarter valued at approximately $121,000. Wellington Management Group LLP boosted its stake in EVgo by 34.9% in the fourth quarter. Wellington Management Group LLP now owns 3,675,314 shares of the company’s stock valued at $13,158,000 after acquiring an additional 951,272 shares during the last quarter. Vanguard Group Inc. boosted its stake in EVgo by 0.4% in the first quarter. Vanguard Group Inc. now owns 9,698,722 shares of the company’s stock valued at $24,344,000 after acquiring an additional 37,168 shares during the last quarter. Finally, Voisard Asset Management Group Inc. bought a new position in EVgo in the fourth quarter valued at approximately $29,000. 17.44% of the stock is owned by institutional investors.

EVgo Stock Down 5.7 %

NYSE:EVGO opened at $3.94 on Friday. EVgo has a 12-month low of $1.65 and a 12-month high of $4.70. The firm has a market capitalization of $1.19 billion, a PE ratio of -10.37 and a beta of 2.59. The firm has a 50-day moving average price of $3.68 and a 200 day moving average price of $2.72.

EVgo (NYSE:EVGO) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.01. The business had revenue of $66.62 million during the quarter, compared to analyst estimates of $59.40 million. During the same period last year, the company earned ($0.08) EPS. The business’s revenue for the quarter was up 31.8% on a year-over-year basis. On average, research analysts expect that EVgo will post -0.4 EPS for the current year.

About EVgo

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.