EVgo (NYSE:EVGO) PT Lowered to $6.00

EVgo (NYSE:EVGO) had its price target trimmed by Stifel Nicolaus from $7.00 to $6.00 in a research note released on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also recently weighed in on EVGO. Evercore ISI cut their price objective on shares of EVgo from $8.00 to $7.00 and set an outperform rating for the company in a report on Monday, May 13th. Citigroup reduced their price target on EVgo from $3.00 to $2.00 and set a neutral rating for the company in a report on Thursday, May 9th. UBS Group started coverage on EVgo in a research report on Monday, July 22nd. They set a neutral rating and a $4.00 price target on the stock. Needham & Company LLC reissued a hold rating on shares of EVgo in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald upped their price objective on shares of EVgo from $4.00 to $5.00 and gave the stock an overweight rating in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $4.63.

EVgo Stock Down 2.6 %

Shares of EVGO stock traded down $0.10 on Tuesday, hitting $3.70. The company had a trading volume of 605,118 shares, compared to its average volume of 3,212,667. The firm has a market cap of $1.12 billion, a P/E ratio of -10.00 and a beta of 2.58. EVgo has a twelve month low of $1.65 and a twelve month high of $4.82. The company has a 50-day moving average price of $2.89 and a 200-day moving average price of $2.49.

EVgo (NYSE:EVGO) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.01. The company had revenue of $66.62 million during the quarter, compared to analysts’ expectations of $59.40 million. The company’s revenue for the quarter was up 31.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.08) EPS. Equities research analysts expect that EVgo will post -0.38 EPS for the current year.

Insider Transactions at EVgo

In other EVgo news, CEO Badar Khan purchased 125,000 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were purchased at an average cost of $2.01 per share, with a total value of $251,250.00. Following the completion of the purchase, the chief executive officer now owns 143,874 shares in the company, valued at approximately $289,186.74. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 66.96% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EVGO. International Assets Investment Management LLC purchased a new position in EVgo during the fourth quarter worth about $580,000. Prime Capital Investment Advisors LLC purchased a new stake in EVgo in the fourth quarter valued at approximately $59,000. Handelsbanken Fonder AB acquired a new position in EVgo during the fourth quarter worth $121,000. Wellington Management Group LLP grew its stake in shares of EVgo by 34.9% in the fourth quarter. Wellington Management Group LLP now owns 3,675,314 shares of the company’s stock valued at $13,158,000 after buying an additional 951,272 shares in the last quarter. Finally, Voisard Asset Management Group Inc. purchased a new stake in shares of EVgo in the 4th quarter valued at $29,000. Hedge funds and other institutional investors 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.