EVgo (NYSE:EVGO) Earns “Hold” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of EVgo (NYSE:EVGO) in a research report sent to investors on Wednesday morning, Benzinga reports.

Other equities analysts have also issued reports about the company. Evercore ISI lowered their price target on EVgo from $9.00 to $8.00 and set an outperform rating on the stock in a research note on Thursday, March 7th. Cantor Fitzgerald restated a neutral rating and set a $5.00 price target on shares of EVgo in a research note on Thursday, March 7th. Finally, Royal Bank of Canada restated an outperform rating and set a $4.00 price target on shares of EVgo in a research note on Friday, April 5th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $5.06.

EVgo Trading Up 5.4 %

EVgo stock traded up $0.10 during mid-day trading 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 stock has a market cap of $556.30 million, a P/E ratio of -3.72 and a beta of 2.53. The stock has a 50 day moving average of $2.23 and a two-hundred day moving average of $2.60. EVgo has a 1-year low of $1.65 and a 1-year high of $6.18.

EVgo (NYSE:EVGO) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.02. The business had revenue of $55.16 million during 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 prior year, the business posted ($0.09) earnings per share. As a group, research analysts predict that EVgo will post -0.37 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On EVgo

Hedge funds have recently bought and sold shares of the company. Voisard Asset Management Group Inc. acquired a new stake in EVgo during the fourth quarter worth approximately $29,000. Headlands Technologies LLC acquired a new stake in EVgo during the third quarter worth approximately $32,000. Verdence Capital Advisors LLC acquired a new stake in EVgo during the third quarter worth approximately $34,000. Sigma Planning Corp acquired a new stake in EVgo during the third quarter worth approximately $36,000. Finally, Sippican Capital Advisors acquired a new stake in EVgo during the fourth quarter worth approximately $43,000. 17.44% of the stock is currently owned by institutional investors and hedge funds.

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.