EVgo, Inc. (EVGO)
NASDAQ (NGS) NASDAQ (NGS) Primary 
EVgo to benefit from electrification trends but lacks near-term catalysts: analysts
EVgo, a provider of direct current fast charging for electric vehicles, has earned a ‘Neutral' rating and a $4 price target from UBS analysts in their initial coverage of the stock. Shares of EVgo traded hands at $3.65 in the early afternoon on Tuesday.
EV Charging Stock EVgo Is Surging. Why Investors Are Pumped.
The underdog charging stock has more than doubled since late April. Its latest gain came as analysts at Benchmark raised their target for the price.
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EVgo stock price analysis: the comeback could be epic
EVgo (NASDAQ: EVGO) stock price has crashed hard in the past few years as concerns about the electric vehicle industry continued. It has tumbled by almost 40% this year and by over 45% in the past 12 months.
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International Assets Investment Management LLC Purchases New Shares in EVgo, Inc. (NYSE:EVGO)
International Assets Investment Management LLC acquired a new position in shares of EVgo, Inc. (NYSE:EVGO – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 16,110 shares of the company’s stock, valued at approximately $580,000. Several other hedge funds and other institutional investors have also added to or reduced their stakes in EVGO. Swiss National Bank raised its position in shares of EVgo by 1.9% during the 3rd quarter. Swiss National Bank now owns 222,100 shares of the company’s stock worth $751,000 after purchasing an additional 4,100 shares during the last quarter. Barclays PLC lifted its position in shares of EVgo by 7.6% in the third quarter. Barclays PLC now owns 114,829 shares of the company’s stock valued at $389,000 after acquiring an additional 8,134 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of EVgo by 43.2% in the third quarter. State Board of Administration of Florida Retirement System now owns 29,160 shares of the company’s stock worth $99,000 after acquiring an additional 8,800 shares during the last quarter. Headlands Technologies LLC acquired a new position in EVgo in the 3rd quarter valued at $32,000. Finally, Sigma Planning Corp acquired a new stake in EVgo during the 3rd quarter worth $36,000. 17.44% of the stock is owned by hedge funds and other institutional investors. Analyst Upgrades and Downgrades A number of brokerages recently issued reports on EVGO. Cantor Fitzgerald raised shares of EVgo from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $5.00 to $4.00 in a report on Thursday, May 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a research report on Wednesday, May 8th. Citigroup dropped their price target on shares of EVgo from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. Evercore ISI decreased their price objective on shares of EVgo from $8.00 to $7.00 and set an “outperform” rating on the stock in a report on Monday, May 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $4.00 target price on shares of EVgo in a report on Friday, April 5th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $4.67. Check Out Our Latest Stock Report on EVGO EVgo Stock Down 3.4 % NYSE:EVGO opened at $2.28 on Monday. The company has a market cap of $688.63 million, a price-to-earnings ratio of -6.00 and a beta of 2.53. EVgo, Inc. has a 52 week low of $1.65 and a 52 week high of $5.95. The company has a fifty day simple moving average of $2.13 and a two-hundred day simple moving average of $2.60. EVgo (NYSE:EVGO – Get Free Report) last released its earnings results on Tuesday, May 7th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.02. The company had revenue of $55.16 million for the quarter, compared to analyst estimates of $52.41 million. The company’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 earned ($0.09) earnings per share. On average, analysts expect that EVgo, Inc. will post -0.38 EPS for the current year. Insider Buying and Selling In other news, CEO Badar Khan purchased 125,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was bought at an average price of $2.01 per share, for a total transaction of $251,250.00. Following the completion of the purchase, the chief executive officer now directly owns 143,874 shares of the company’s stock, valued at $289,186.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, President Dennis G. Kish sold 34,717 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total transaction of $104,151.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Badar Khan bought 125,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average price of $2.01 per share, with a total value of $251,250.00. Following the purchase, the chief executive officer now owns 143,874 shares of the company’s stock, valued at $289,186.74. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 56,230 shares of company stock worth $167,409. Company insiders own 66.96% of the company’s stock. EVgo Company Profile (Free Report) 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.
