EVgo, Inc. (NYSE:EVGO – Get Free Report)’s stock price rose 4.8% on Wednesday after Royal Bank of Canada raised their price target on the stock from $4.00 to $8.00. Royal Bank of Canada currently has an outperform rating on the stock. EVgo traded as high as $7.10 and last traded at $6.99. Approximately 2,369,760 shares traded hands during trading, a decline of 42% from the average daily volume of 4,102,120 shares. The stock had previously closed at $6.67.
A number of other equities analysts have also commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 price objective on shares of EVgo in a report on Monday, September 30th. Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a report on Thursday, August 29th. UBS Group began coverage on shares of EVgo in a report on Monday, July 22nd. They issued a “neutral” rating and a $4.00 price objective on the stock. Capital One Financial upgraded shares of EVgo to a “strong-buy” rating in a report on Monday, September 16th. Finally, Stifel Nicolaus cut their target price on shares of EVgo from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $5.67.
Read Our Latest Research Report on EVgo
Insiders Place Their Bets
Institutional Investors Weigh In On EVgo
Institutional investors and hedge funds have recently modified their holdings of the business. Voisard Asset Management Group Inc. bought a new stake in shares of EVgo during the fourth quarter worth approximately $29,000. Legacy Capital Wealth Partners LLC bought a new stake in EVgo in the second quarter valued at approximately $27,000. Bleakley Financial Group LLC bought a new stake in EVgo in the first quarter valued at approximately $36,000. SG Americas Securities LLC bought a new stake in EVgo in the first quarter valued at approximately $41,000. Finally, Point72 DIFC Ltd bought a new stake in EVgo in the second quarter valued at approximately $45,000. 17.44% of the stock is owned by institutional investors.
EVgo Price Performance
The stock has a market cap of $2.13 billion, a P/E ratio of -18.58 and a beta of 2.58. The company’s 50 day simple moving average is $4.32 and its 200 day simple moving average is $3.07.
EVgo (NYSE:EVGO – Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.01. The firm had revenue of $66.62 million during the quarter, compared to the consensus estimate of $59.40 million. During the same period in the previous year, the company posted ($0.08) EPS. The firm’s revenue for the quarter was up 31.8% on a year-over-year basis. On average, equities research analysts predict that EVgo, Inc. will post -0.4 earnings per share for the current year.
About EVgo
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.
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