EVgo (NYSE:EVGO) Price Target Raised to $10.00 at Stifel Nicolaus

EVgo (NYSE:EVGO) had its price target boosted by Stifel Nicolaus from $6.00 to $10.00 in a research report report published on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently issued reports on EVGO. Marathon Capitl raised shares of EVgo from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada raised their target price on EVgo from $4.00 to $8.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. TD Cowen upgraded EVgo from a “hold” rating to a “buy” rating and lifted their price target for the company from $5.00 to $7.00 in a research report on Thursday, October 3rd. Needham & Company LLC reissued a “hold” rating on shares of EVgo in a research report on Thursday, August 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $5.00 target price on shares of EVgo in a research report on Monday, September 30th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $6.61.

EVgo Stock Down 1.2 %

Shares of NYSE:EVGO opened at $8.27 on Wednesday. The stock has a market cap of $2.50 billion, a PE ratio of -20.68 and a beta of 2.58. The company’s fifty day moving average is $5.64 and its 200 day moving average is $3.68. EVgo has a 52 week low of $1.65 and a 52 week high of $9.07.

EVgo (NYSE:EVGO) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The firm had revenue of $66.62 million for the quarter, compared to the consensus estimate of $59.40 million. The company’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.08) earnings per share. Sell-side analysts anticipate that EVgo will post -0.4 EPS for the current year.

Insider Transactions at EVgo

In other EVgo news, President Dennis G. Kish sold 16,414 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $3.60, for a total transaction of $59,090.40. Following the transaction, the president now directly owns 47,614 shares in the company, valued at $171,410.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other EVgo news, insider Francine Sullivan sold 12,584 shares of EVgo stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $3.60, for a total value of $45,302.40. Following the transaction, the insider now owns 117,327 shares in the company, valued at $422,377.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Dennis G. Kish sold 16,414 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $3.60, for a total transaction of $59,090.40. Following the completion of the sale, the president now owns 47,614 shares in the company, valued at $171,410.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 66.96% of the company’s stock.

Hedge Funds Weigh In On EVgo

Several institutional investors and hedge funds have recently bought and sold shares of EVGO. Legacy Capital Wealth Partners LLC purchased a new stake in EVgo in the second quarter valued at about $27,000. Bleakley Financial Group LLC purchased a new stake in EVgo during the 1st quarter worth approximately $36,000. SG Americas Securities LLC acquired a new position in EVgo during the 1st quarter valued at approximately $41,000. Point72 DIFC Ltd acquired a new position in EVgo during the 2nd quarter valued at approximately $45,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of EVgo during the third quarter worth $51,000. 17.44% of the stock is owned by hedge funds and other institutional investors.

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.