EVgo, Inc. (NYSE:EVGO – Get Rating) has earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $8.28.
Several analysts recently commented on the company. Stifel Nicolaus assumed coverage on EVgo in a research note on Tuesday, May 16th. They issued a “buy” rating and a $9.00 price objective for the company. Northland Securities reduced their target price on shares of EVgo from $9.00 to $7.00 in a research report on Wednesday, May 24th. Evercore ISI lowered their price target on shares of EVgo from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Friday, March 31st. Bank of America dropped their price objective on shares of EVgo from $7.00 to $1.00 in a research note on Friday, May 19th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 target price on shares of EVgo in a research note on Friday, March 31st.
EVgo Stock Up 4.6 %
Shares of NYSE EVGO opened at $4.36 on Thursday. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -11.78 and a beta of 2.02. The company’s 50-day simple moving average is $5.53 and its 200-day simple moving average is $5.62. EVgo has a 52-week low of $3.64 and a 52-week high of $12.65.
Insider Buying and Selling at EVgo
In other news, COO Dennis G. Kish sold 20,006 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $3.99, for a total transaction of $79,823.94. Following the completion of the sale, the chief operating officer now owns 37,844 shares in the company, valued at approximately $150,997.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other EVgo news, CEO Catherine Zoi sold 60,030 shares of the stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $3.98, for a total transaction of $238,919.40. Following the completion of the transaction, the chief executive officer now owns 163,796 shares of the company’s stock, valued at $651,908.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Dennis G. Kish sold 20,006 shares of EVgo stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $3.99, for a total transaction of $79,823.94. Following the sale, the chief operating officer now owns 37,844 shares of the company’s stock, valued at $150,997.56. The disclosure for this sale can be found here. Insiders have sold 131,528 shares of company stock worth $523,264 in the last ninety days. 73.48% of the stock is owned by insiders.
Hedge Funds Weigh In On EVgo
A number of hedge funds have recently made changes to their positions in the stock. Almanack Investment Partners LLC. acquired a new position in EVgo in the 3rd quarter valued at about $25,000. Creative Financial Designs Inc. ADV grew its holdings in shares of EVgo by 230.0% in the first quarter. Creative Financial Designs Inc. ADV now owns 3,300 shares of the company’s stock valued at $26,000 after purchasing an additional 2,300 shares in the last quarter. FMR LLC increased its stake in EVgo by 689.3% during the 1st quarter. FMR LLC now owns 3,457 shares of the company’s stock worth $27,000 after buying an additional 3,019 shares during the period. Ensign Peak Advisors Inc acquired a new stake in EVgo during the 3rd quarter worth approximately $27,000. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new position in EVgo in the 1st quarter valued at approximately $35,000. Hedge funds and other institutional investors own 12.95% of the company’s stock.
EVgo Company Profile
EVgo, Inc owns and operates a direct current fast charging network 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.
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