EVgo’s (EVGO) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of EVgo (NYSE:EVGO) in a report issued on Wednesday,Benzinga reports.

Other analysts also recently issued reports about the company. Marathon Capitl upgraded EVgo from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. UBS Group upgraded EVgo from a “neutral” rating to a “buy” rating and raised their price objective for the company from $4.00 to $8.50 in a research note on Thursday, October 10th. TD Cowen upgraded EVgo from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $5.00 to $7.00 in a report on Thursday, October 3rd. Royal Bank of Canada upped their target price on shares of EVgo from $4.00 to $8.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised EVgo from a “neutral” rating to an “overweight” rating and set a $7.00 price target on the stock in a research report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $6.61.

EVgo Stock Up 0.2 %

Shares of NYSE EVGO opened at $5.06 on Wednesday. The stock has a market capitalization of $1.53 billion, a PE ratio of -12.05 and a beta of 2.38. The firm has a fifty day moving average of $6.12 and a 200-day moving average of $4.04. EVgo has a 52-week low of $1.65 and a 52-week high of $9.07.

EVgo (NYSE:EVGO) last posted its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The company had revenue of $67.50 million for the quarter, compared to analysts’ expectations of $66.52 million. During the same period in the previous year, the business posted ($0.09) earnings per share. The business’s quarterly revenue was up 92.3% on a year-over-year basis. Equities research analysts expect that EVgo will post -0.4 EPS for the current fiscal year.

Insider Activity at EVgo

In related news, CEO Badar Khan sold 166,725 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $5.14, for a total transaction of $856,966.50. Following the completion of the transaction, the chief executive officer now directly owns 348,761 shares in the company, valued at $1,792,631.54. This represents a 32.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 66.96% of the stock is owned by company insiders.

Institutional Trading of EVgo

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

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.