EVgo, Inc. (NASDAQ:EVGO) Given Average Recommendation of "Buy" by Brokerages

Shares of EVgo, Inc. (NASDAQ:EVGO - Get Free Report) have been given a consensus rating of "Buy" by the twelve research firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $5.78.

EVGO has been the subject of a number of research analyst reports. UBS Group lowered their price target on EVgo from $8.00 to $5.00 and set a "buy" rating for the company in a report on Monday, January 27th. Cantor Fitzgerald reissued an "overweight" rating and set a $8.00 target price on shares of EVgo in a research note on Wednesday, March 5th. Needham & Company LLC restated a "hold" rating on shares of EVgo in a research note on Wednesday, March 5th. Stifel Nicolaus lowered their price objective on shares of EVgo from $10.00 to $8.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Finally, Evercore ISI cut their target price on shares of EVgo from $7.00 to $4.00 and set an "outperform" rating on the stock in a research report on Monday, March 31st.

EVgo Trading Up 0.4 %

Shares of EVGO stock traded up $0.01 on Friday, hitting $2.54. The stock had a trading volume of 596,471 shares, compared to its average volume of 4,304,707. The firm has a market cap of $778.06 million, a P/E ratio of -6.05 and a beta of 2.28. The company has a fifty day moving average price of $2.68 and a two-hundred day moving average price of $4.54. EVgo has a twelve month low of $1.65 and a twelve month high of $9.07.

EVgo (NASDAQ:EVGO - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates of ($0.15) by $0.04. The company had revenue of $67.51 million during the quarter, compared to analyst estimates of $69.49 million. On average, analysts expect that EVgo will post -0.45 earnings per share for the current year.

Insider Buying and Selling at EVgo

In related news, President Dennis G. Kish sold 44,184 shares of EVgo stock in a transaction on 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 owns 95,986 shares of the company's stock, valued at $327,312.26. This trade represents a 31.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 66.96% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in EVGO. Merit Financial Group LLC acquired a new stake in EVgo in the first quarter worth $31,000. Mariner LLC acquired a new stake in shares of EVgo in the 4th quarter valued at about $48,000. FORA Capital LLC bought a new stake in EVgo in the 4th quarter valued at about $56,000. SCP Investment LP bought a new position in EVgo in the fourth quarter worth approximately $60,000. Finally, Pallas Capital Advisors LLC acquired a new stake in EVgo in the first quarter valued at approximately $61,000. 17.44% of the stock is owned by institutional investors and hedge funds.

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.