EVgo (NYSE:EVGO) Price Target Cut to $7.00

EVgo (NYSE:EVGO – Get Rating) had its price objective dropped by Northland Securities from $9.00 to $7.00 in a research note issued on Wednesday, The Fly reports. Northland Securities’ price target would indicate a potential upside of 81.35% from the company’s current price.

EVGO has been the subject of a number of other reports. Stifel Nicolaus assumed coverage on shares of EVgo in a research report on Tuesday, May 16th. They set a “buy” rating and a $9.00 price target for the company. JPMorgan Chase & Co. lowered shares of EVgo from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $10.00 to $6.00 in a research report on Thursday, January 26th. Bank of America reduced their price target on shares of EVgo from $7.00 to $1.00 in a research report on Friday, May 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of EVgo in a research note on Friday, March 31st. Finally, Evercore ISI dropped their price objective on shares of EVgo from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Friday, March 31st. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $8.28.

EVgo Stock Down 0.5 %

Shares of EVgo stock opened at $3.86 on Wednesday. The firm has a market capitalization of $1.04 billion, a P/E ratio of -10.43 and a beta of 2.00. The company has a 50 day moving average price of $5.81 and a 200 day moving average price of $5.81. EVgo has a 52 week low of $3.64 and a 52 week high of $12.65.

EVgo (NYSE:EVGO – Get Rating) last announced its quarterly earnings data on Thursday, March 30th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.08. The company had revenue of $27.30 million during the quarter, compared to analysts’ expectations of $20.16 million. The business’s revenue for the quarter was up 284.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 earnings per share. As a group, research analysts anticipate that EVgo will post -0.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EVGO. Almanack Investment Partners LLC. purchased a new position in shares of EVgo during the 3rd quarter worth $25,000. Creative Financial Designs Inc. ADV raised its holdings in EVgo by 230.0% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 3,300 shares of the company’s stock valued at $26,000 after buying an additional 2,300 shares during the period. FMR LLC raised its holdings in EVgo by 689.3% in the 1st quarter. FMR LLC now owns 3,457 shares of the company’s stock valued at $27,000 after buying an additional 3,019 shares during the period. Ensign Peak Advisors Inc purchased a new stake in EVgo in the 3rd quarter valued at about $27,000. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new stake in EVgo in the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 12.95% of the company’s stock.

About EVgo

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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.