Citigroup Begins Coverage on EVgo (NYSE:EVGO)

Research analysts at Citigroup started coverage on shares of EVgo (NYSE:EVGO) in a research report issued to clients and investors on Wednesday, The Fly reports. The firm set a “neutral” rating on the stock.

Other equities analysts have also issued research reports about the company. Vertical Research started coverage on EVgo in a research note on Wednesday, July 7th. They set a “neutral” rating on the stock. Cowen started coverage on EVgo in a research note on Thursday, August 12th. They set an “outperform” rating and a $18.00 price target on the stock. Evercore ISI began coverage on EVgo in a research note on Tuesday, July 27th. They set an “outperform” rating and a $18.00 price target on the stock. Finally, Bank of America began coverage on EVgo in a research note on Monday, August 30th. They issued a “neutral” rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, EVgo currently has an average rating of “Hold” and a consensus target price of $18.00.

Shares of EVgo stock opened at $7.99 on Wednesday. The company has a debt-to-equity ratio of 52.82, a quick ratio of 42.77 and a current ratio of 42.77. EVgo has a 12 month low of $7.90 and a 12 month high of $24.34. The company’s fifty day moving average price is $10.26.

An institutional investor recently bought a new position in EVgo stock. Alyeska Investment Group L.P. purchased a new position in EVgo Inc. (NYSE:EVGO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 900,000 shares of the company’s stock, valued at approximately $12,091,000. Alyeska Investment Group L.P. owned approximately 3.13% of EVgo as of its most recent filing with the Securities and Exchange Commission (SEC). 2.98% of the stock is owned by institutional investors.

EVgo Company Profile

EVgo Inc operates a fast charging network for electric vehicles in the United States. It owns and operates approximately 800 fast charging locations in 65 metropolitan areas across 34 states. The company was founded in 2010 and is based in Los Angeles, California.

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