EVgo Inc. (NASDAQ:EVGO) Receives Average Rating of "Buy" from Analysts

Shares of EVgo Inc. (NASDAQ:EVGO - Get Free Report) have earned an average recommendation of "Buy" from the twelve analysts that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $6.13.

A number of equities research analysts have weighed in on EVGO shares. Roth Capital reissued a "buy" rating on shares of EVgo in a report on Wednesday, May 7th. JPMorgan Chase & Co. reaffirmed an "overweight" rating on shares of EVgo in a research note on Thursday, May 8th. Evercore ISI reduced their price objective on shares of EVgo from $7.00 to $4.00 and set an "outperform" rating on the stock in a research note on Monday, March 31st. Finally, Morgan Stanley set a $4.00 price objective on shares of EVgo and gave the company an "equal weight" rating in a research note on Tuesday, June 3rd.

EVgo Trading Down 4.5%

EVGO traded down $0.17 during trading on Tuesday, reaching $3.60. 2,852,469 shares of the company's stock were exchanged, compared to its average volume of 3,714,590. EVgo has a one year low of $2.19 and a one year high of $9.07. The stock has a market capitalization of $1.11 billion, a PE ratio of -8.78 and a beta of 2.34. The firm has a fifty day moving average price of $3.82 and a two-hundred day moving average price of $3.28.

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

Insiders Place Their Bets

In other EVgo news, President Dennis G. Kish sold 73,215 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $3.69, for a total transaction of $270,163.35. Following the transaction, the president owned 72,269 shares in the company, valued at approximately $266,672.61. This represents a 50.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 58.79% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of EVgo by 20.1% in the fourth quarter. Vanguard Group Inc. now owns 12,200,949 shares of the company's stock valued at $49,414,000 after purchasing an additional 2,043,449 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of EVgo by 93.4% in the fourth quarter. JPMorgan Chase & Co. now owns 1,213,688 shares of the company's stock valued at $4,915,000 after purchasing an additional 586,108 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of EVgo in the fourth quarter valued at about $523,000. J. Goldman & Co LP raised its holdings in shares of EVgo by 59.9% in the fourth quarter. J. Goldman & Co LP now owns 2,221,877 shares of the company's stock valued at $8,999,000 after purchasing an additional 832,397 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of EVgo by 175.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 4,949,622 shares of the company's stock valued at $20,046,000 after purchasing an additional 3,153,073 shares during the last quarter. Institutional investors and hedge funds own 17.44% of the company's stock.

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.