EVgo, Inc. (NASDAQ:EVGO) Receives $6.25 Consensus Price Target from Analysts

Shares of EVgo, Inc. (NASDAQ:EVGO - Get Free Report) have received an average recommendation of "Buy" from the thirteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $6.00.

Several equities analysts have commented on the stock. Needham & Company LLC reiterated a "hold" rating on shares of EVgo in a report on Wednesday, March 5th. Roth Capital reissued a "buy" rating on shares of EVgo in a report on Wednesday, May 7th. Morgan Stanley initiated coverage on shares of EVgo in a report on Tuesday. They issued an "equal weight" rating and a $4.00 target price on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $8.00 target price on shares of EVgo in a report on Wednesday, March 5th. Finally, Evercore ISI decreased their target price on shares of EVgo from $7.00 to $4.00 and set an "outperform" rating on the stock in a report on Monday, March 31st.

Insider Transactions at EVgo

In other news, President Dennis G. Kish sold 46,785 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $3.75, for a total value of $175,443.75. Following the transaction, the president now owns 145,484 shares in the company, valued at approximately $545,565. The trade was a 24.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 58.79% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Summit Securities Group LLC bought a new stake in EVgo during the 1st quarter valued at $30,000. Merit Financial Group LLC bought a new position in EVgo during the first quarter valued at about $31,000. Ballentine Partners LLC purchased a new stake in EVgo during the first quarter valued at about $32,000. Hsbc Holdings PLC purchased a new stake in EVgo during the first quarter valued at about $38,000. Finally, Adams Wealth Management purchased a new stake in shares of EVgo in the first quarter worth about $46,000. Institutional investors and hedge funds own 17.44% of the company's stock.

EVgo Price Performance

EVGO traded down $0.01 during trading on Monday, reaching $3.85. The company had a trading volume of 1,270,583 shares, compared to its average volume of 4,460,359. EVgo has a 12 month low of $1.94 and a 12 month high of $9.07. The business's fifty day moving average price is $3.12 and its 200 day moving average price is $3.69. The company has a market cap of $1.18 billion, a P/E ratio of -9.17 and a beta of 2.27.

EVgo (NASDAQ:EVGO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.02. The firm had revenue of $75.29 million for the quarter, compared to the consensus estimate of $70.11 million. During the same period last year, the company posted ($0.09) earnings per share. The business's revenue was up 36.4% compared to the same quarter last year. As a group, sell-side analysts predict that EVgo will post -0.45 EPS 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.