EVgo (NYSE:EVGO) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of EVgo (NYSE:EVGO) in a research report sent to investors on Monday, Benzinga reports. They currently have a $5.00 target price on the stock.

A number of other equities analysts have also issued reports on the company. Capital One Financial raised EVgo to a strong-buy rating in a research note on Monday, September 16th. Benchmark raised their target price on EVgo from $3.00 to $5.00 and gave the company a buy rating in a research note on Friday, July 12th. Stifel Nicolaus dropped their price target on shares of EVgo from $7.00 to $6.00 and set a buy rating on the stock in a research report on Tuesday, August 6th. UBS Group started coverage on shares of EVgo in a report on Monday, July 22nd. They issued a neutral rating and a $4.00 price target for the company. Finally, Needham & Company LLC reiterated a hold rating on shares of EVgo in a report on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, EVgo presently has a consensus rating of Moderate Buy and a consensus target price of $4.63.

EVgo Stock Performance

NYSE:EVGO opened at $4.11 on Monday. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -10.82 and a beta of 2.59. EVgo has a 1 year low of $1.65 and a 1 year high of $4.80. The business has a fifty day moving average of $3.98 and a 200-day moving average of $2.87.

EVgo (NYSE:EVGO) last announced its earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The company had revenue of $66.62 million during the quarter, compared to the consensus estimate of $59.40 million. During the same quarter in the prior year, the company earned ($0.08) EPS. The business’s quarterly revenue was up 31.8% on a year-over-year basis. On average, equities research analysts predict that EVgo will post -0.4 EPS for the current year.

Insiders Place Their Bets

In other news, President Dennis G. Kish sold 16,414 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $3.60, for a total transaction of $59,090.40. Following the sale, the president now owns 47,614 shares in the company, valued at $171,410.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Francine Sullivan sold 12,584 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $3.60, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Dennis G. Kish sold 16,414 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $3.60, for a total value of $59,090.40. Following the transaction, the president now directly owns 47,614 shares in the company, valued at $171,410.40. The disclosure for this sale can be found here. Insiders sold a total of 31,475 shares of company stock worth $110,189 over the last ninety days. 66.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EVgo

Several institutional investors and hedge funds have recently bought and sold shares of the business. Voisard Asset Management Group Inc. acquired a new stake in shares of EVgo during the fourth quarter worth approximately $29,000. Legacy Capital Wealth Partners LLC purchased a new stake in shares of EVgo during the 2nd quarter worth about $27,000. Bleakley Financial Group LLC purchased a new stake in shares of EVgo during the 1st quarter worth about $36,000. SG Americas Securities LLC acquired a new stake in shares of EVgo during the 1st quarter valued at about $41,000. Finally, Point72 DIFC Ltd bought a new stake in shares of EVgo in the 2nd quarter valued at approximately $45,000. Hedge funds and other institutional investors own 17.44% of the company’s stock.

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.