EVgo Inc. (NASDAQ:EVGO) Stock Has Consensus Price Target of $2.79

Key Points

• Analysts have a consensus “Hold” rating on EVgo, based on nine brokerages: four Buy, three Hold, and two Sell. Their average 12-month price target is $2.79.
• Recent analyst actions were mixed but included downgrades: Cantor Fitzgerald cut its rating to Hold and price target from $3 to $2, while UBS lowered its rating from Strong Buy to Hold; Evercore maintained Outperform with a $2.50 target.
• EVgo shares opened at $1.83, within a 52-week range of $0.98 to $3.68. Institutional investors and hedge funds own 17.44% of the company’s stock.

EVgo Inc. (NASDAQ:EVGO - Get Free Report) has earned an average rating of "Hold" from the nine brokerages that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $2.79.

A number of research firms recently issued reports on EVGO. Weiss Ratings upgraded shares of EVgo from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, October 6th. Cantor Fitzgerald cut EVgo from an "overweight" rating to a "hold" rating and dropped their target price for the company from $3.00 to $2.00 in a report on Tuesday, November 3rd. UBS Group lowered EVgo from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, November 3rd. Roth Capital set a $2.00 price objective on shares of EVgo in a research report on Monday, August 10th. Finally, Evercore restated an "outperform" rating and set a $2.50 price target on shares of EVgo in a research report on Monday, September 21st.

EVgo Price Performance

EVGO stock opened at $1.83 on Monday. The stock has a market capitalization of $575.57 million, a PE ratio of -4.57 and a beta of 2.87. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 5.39. The firm has a 50 day moving average of $1.34 and a 200 day moving average of $1.90. EVgo has a 52 week low of $0.98 and a 52 week high of $3.68.

Institutional Trading of EVgo

Hedge funds have recently made changes to their positions in the business. Kintra Wealth LLC acquired a new stake in EVgo during the 2nd quarter worth approximately $25,000. R Squared Ltd purchased a new stake in shares of EVgo during the third quarter worth $48,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of EVgo during the first quarter worth $60,000. Royal Bank of Canada increased its position in shares of EVgo by 94.4% during the first quarter. Royal Bank of Canada now owns 41,038 shares of the company's stock worth $70,000 after acquiring an additional 19,929 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in EVgo by 46.3% in the first quarter. Cetera Investment Advisers now owns 42,683 shares of the company's stock valued at $73,000 after purchasing an additional 13,499 shares during the period. Institutional investors and hedge funds own 17.44% of the company's stock.

EVgo Company Profile

EVgo, Inc NASDAQ: EVGO operates a public electric vehicle charging network in the United States. The company develops, owns and operates fast-charging stations designed primarily for passenger vehicles, providing drivers with access to charging at shopping centers, grocery stores, retail locations, workplaces and other convenient destinations.

EVgo's services include on-demand charging through its network and mobile app, as well as features such as payment processing, station availability information and vehicle-to-charger connectivity.

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