EVgo (NYSE:EVGO) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of EVgo (NYSE:EVGO) in a report issued on Wednesday morning, Benzinga reports.

A number of other analysts have also recently commented on EVGO. Cantor Fitzgerald restated a neutral rating and set a $5.00 target price on shares of EVgo in a report on Thursday, March 7th. Royal Bank of Canada restated an outperform rating and set a $4.00 target price on shares of EVgo in a report on Friday, April 5th. Finally, Evercore ISI dropped their price target on shares of EVgo from $9.00 to $8.00 and set an outperform rating on the stock in a research note on Thursday, March 7th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, EVgo currently has a consensus rating of Moderate Buy and an average price target of $5.06.

EVgo Trading Up 5.4 %

Shares of EVGO stock traded up $0.10 during trading hours on Wednesday, hitting $1.85. 1,576,257 shares of the company’s stock were exchanged, compared to its average volume of 2,863,577. The business’s 50 day simple moving average is $2.23 and its 200-day simple moving average is $2.60. The company has a market capitalization of $556.30 million, a PE ratio of -3.72 and a beta of 2.53. EVgo has a 12-month low of $1.65 and a 12-month high of $6.18.

EVgo (NYSE:EVGO) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The company had revenue of $55.16 million for the quarter, compared to analysts’ expectations of $52.41 million. The firm’s revenue for the quarter was up 118.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.09) earnings per share. Equities analysts anticipate that EVgo will post -0.37 EPS for the current year.

Insider Buying and Selling

In related news, President Dennis G. Kish sold 34,717 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $3.00, for a total value of $104,151.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other EVgo news, President Dennis G. Kish sold 34,717 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total value of $104,151.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Olga Shevorenkova sold 19,363 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total value of $58,089.00. Following the completion of the transaction, the chief financial officer now owns 81,991 shares of the company’s stock, valued at $245,973. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,230 shares of company stock valued at $167,409. 66.96% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EVGO. Voisard Asset Management Group Inc. bought a new position in shares of EVgo during the 4th quarter valued at approximately $29,000. Headlands Technologies LLC purchased a new position in EVgo during the third quarter worth $32,000. Verdence Capital Advisors LLC purchased a new position in EVgo during the third quarter worth $34,000. Sigma Planning Corp purchased a new position in EVgo during the third quarter worth $36,000. Finally, Simplicity Wealth LLC purchased a new position in EVgo during the first quarter worth $36,000. 17.44% of the stock is currently owned by institutional investors.

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.