EVgo (NYSE:EVGO) Price Target Increased to $8.00 by Analysts at Royal Bank of Canada

EVgo (NYSE:EVGO) had its price objective boosted by Royal Bank of Canada from $4.00 to $8.00 in a research note released on Wednesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other analysts have also weighed in on the stock. TD Cowen upgraded shares of EVgo from a hold rating to a buy rating and raised their target price for the company from $5.00 to $7.00 in a research report on Thursday, October 3rd. 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 report on Tuesday, August 6th. UBS Group initiated coverage on shares of EVgo in a research report on Monday, July 22nd. They issued a neutral rating and a $4.00 target price on the stock. Benchmark raised their target price on shares of EVgo from $3.00 to $5.00 and gave the company a buy rating in a research report on Friday, July 12th. Finally, Capital One Financial upgraded shares of EVgo to a strong-buy rating in a research report on Monday, September 16th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $6.17.

EVgo Trading Up 5.8 %

NYSE EVGO opened at $7.06 on Wednesday. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of -18.58 and a beta of 2.58. The firm’s 50 day simple moving average is $4.32 and its 200 day simple moving average is $3.07. EVgo has a 1 year low of $1.65 and a 1 year high of $7.69.

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

Insider Transactions at EVgo

In other EVgo news, President Dennis G. Kish sold 16,414 shares of EVgo stock in a transaction on Monday, August 12th. The shares were sold at an average price of $3.60, for a total value of $59,090.40. Following the completion of the sale, the president now directly owns 47,614 shares of the company’s stock, valued at approximately $171,410.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Francine Sullivan sold 12,584 shares of the business’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 $45,302.40. Following the transaction, the insider now directly owns 117,327 shares in the company, valued at approximately $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 can be accessed through this link. Also, President Dennis G. Kish sold 16,414 shares of the business’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 transaction, the president now owns 47,614 shares in the company, valued at approximately $171,410.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 66.96% of the stock is owned by company insiders.

Institutional Trading of EVgo

A number of hedge funds and other institutional investors have recently bought and sold shares of EVGO. Legacy Capital Wealth Partners LLC bought a new position in shares of EVgo in the 2nd quarter worth $27,000. Voisard Asset Management Group Inc. bought a new position in shares of EVgo in the 4th quarter worth about $29,000. Bleakley Financial Group LLC bought a new position in shares of EVgo in the 1st quarter worth about $36,000. SG Americas Securities LLC bought a new position in shares of EVgo in the 1st quarter worth about $41,000. Finally, Point72 DIFC Ltd bought a new stake in EVgo during the 2nd quarter valued at about $45,000. 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.