EVgo’s (EVGO) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of EVgo (NYSE:EVGO) in a report released on Monday, Benzinga reports. Cantor Fitzgerald currently has a $5.00 price objective on the stock.

A number of other analysts have also commented on EVGO. UBS Group began coverage on shares of EVgo in a research report on Monday, July 22nd. They issued a neutral rating and a $4.00 price objective on the stock. Benchmark raised their price objective on EVgo from $3.00 to $5.00 and gave the company a buy rating in a report on Friday, July 12th. Evercore ISI lowered their target price on EVgo from $8.00 to $7.00 and set an outperform rating on the stock in a research report on Monday, May 13th. Needham & Company LLC restated a hold rating on shares of EVgo in a research note on Thursday, August 29th. Finally, Stifel Nicolaus dropped their price objective on EVgo from $7.00 to $6.00 and set a buy rating on the stock in a research note on Tuesday, August 6th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, EVgo has a consensus rating of Moderate Buy and a consensus target price of $4.63.

EVgo Trading Up 5.7 %

EVGO stock opened at $4.30 on Monday. The stock has a 50-day moving average price of $3.78 and a two-hundred day moving average price of $2.76. EVgo has a 1 year low of $1.65 and a 1 year high of $4.70. The stock has a market cap of $1.30 billion, a PE ratio of -11.32 and a beta of 2.59.

EVgo (NYSE:EVGO) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. The firm had revenue of $66.62 million for the quarter, compared to the consensus estimate of $59.40 million. The firm’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.08) earnings per share. On average, analysts forecast that EVgo will post -0.4 earnings per share for the current fiscal year.

Insider Activity

In related news, President Dennis G. Kish sold 16,414 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $3.60, for a total transaction of $59,090.40. Following the transaction, the president now directly owns 47,614 shares of the company’s stock, valued at approximately $171,410.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Francine Sullivan sold 12,584 shares of EVgo stock in a transaction on Monday, August 12th. The stock was sold at an average price of $3.60, for a total transaction of $45,302.40. Following the completion of the sale, the insider now owns 117,327 shares of the company’s stock, valued at $422,377.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Dennis G. Kish sold 16,414 shares of EVgo stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $3.60, for a total transaction of $59,090.40. Following the completion of the sale, the president now owns 47,614 shares of the company’s stock, valued at approximately $171,410.40. The disclosure for this sale can be found here. Insiders sold a total of 31,475 shares of company stock valued at $110,189 over the last three months. Insiders own 66.96% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in EVGO. Price T Rowe Associates Inc. MD increased its position in shares of EVgo by 11.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 63,392 shares of the company’s stock worth $160,000 after purchasing an additional 6,633 shares during the period. SG Americas Securities LLC lifted its holdings in shares of EVgo by 47.0% during the 2nd quarter. SG Americas Securities LLC now owns 24,049 shares of the company’s stock worth $59,000 after acquiring an additional 7,687 shares during the period. Voisard Asset Management Group Inc. bought a new stake in shares of EVgo during the 4th quarter worth approximately $29,000. Atria Wealth Solutions Inc. boosted its position in shares of EVgo by 2.8% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 330,871 shares of the company’s stock worth $811,000 after acquiring an additional 8,940 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC bought a new position in EVgo in the second quarter valued at approximately $27,000. 17.44% of the stock is 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.