EVgo (NYSE:EVGO) Shares Gap Up to $7.17

EVgo, Inc. (NYSE:EVGO – Get Rating) shares gapped up prior to trading on Thursday . The stock had previously closed at $7.17, but opened at $7.41. EVgo shares last traded at $7.32, with a volume of 7,391 shares traded.

Several equities research analysts have commented on the stock. Zacks Investment Research lowered shares of EVgo from a “hold” rating to a “sell” rating in a research note on Wednesday, April 27th. JPMorgan Chase & Co. decreased their price objective on shares of EVgo from $20.00 to $14.00 in a research note on Friday, January 28th. Citigroup increased their price objective on shares of EVgo from $9.00 to $11.00 in a research note on Sunday, April 24th. Tudor, Pickering, Holt & Co. assumed coverage on shares of EVgo in a research note on Thursday, April 21st. They issued a “buy” rating and a $16.00 price objective for the company. Finally, Credit Suisse Group upgraded shares of EVgo from a “neutral” rating to an “outperform” rating and set a $14.00 price objective for the company in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, EVgo has an average rating of “Hold” and an average price target of $15.10.

The stock’s 50-day moving average price is $11.15 and its two-hundred day moving average price is $10.84.

EVgo (NYSE:EVGO – Get Rating) last released its quarterly earnings data on Wednesday, March 23rd. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.13. The business had revenue of $7.12 million during the quarter, compared to the consensus estimate of $5.90 million. As a group, equities analysts anticipate that EVgo, Inc. will post -0.74 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC boosted its holdings in EVgo by 49.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 40,689 shares of the company’s stock worth $404,000 after buying an additional 13,401 shares during the period. Alps Advisors Inc. purchased a new position in EVgo in the 4th quarter worth $6,168,000. Victory Capital Management Inc. purchased a new position in EVgo in the 3rd quarter worth $84,000. National Asset Management Inc. raised its position in EVgo by 124.0% in the 4th quarter. National Asset Management Inc. now owns 47,590 shares of the company’s stock worth $474,000 after purchasing an additional 26,340 shares during the period. Finally, DAVENPORT & Co LLC purchased a new position in EVgo in the 4th quarter worth $124,000. 9.91% of the stock is owned by institutional investors.

EVgo Company Profile (NYSE:EVGO)

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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