EVgo (NYSE:EVGO) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of EVgo (NYSE:EVGO) in a report issued on Monday, Benzinga reports. The firm currently has a $5.00 price target on the stock.

A number of other research analysts have also weighed in on the stock. Needham & Company LLC reaffirmed a hold rating on shares of EVgo in a research note on Thursday, August 29th. Stifel Nicolaus decreased their target price on EVgo from $7.00 to $6.00 and set a buy rating on the stock in a research report on Tuesday, August 6th. Capital One Financial upgraded EVgo to a strong-buy rating in a research report on Monday, September 16th. UBS Group started coverage on EVgo in a report on Monday, July 22nd. They issued a neutral rating and a $4.00 price objective on the stock. Finally, Benchmark upped their target price on shares of EVgo from $3.00 to $5.00 and gave the stock a buy rating in a report on Friday, July 12th. Four 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. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $4.63.

EVgo Price Performance

EVgo stock opened at $4.14 on Monday. The stock has a market capitalization of $1.25 billion, a PE ratio of -10.89 and a beta of 2.59. The business has a 50 day simple moving average of $4.01 and a 200-day simple moving average of $2.90. EVgo has a 12 month low of $1.65 and a 12 month high of $4.80.

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

Insiders Place Their Bets

In other news, insider Francine Sullivan sold 12,584 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $3.60, for a total transaction of $45,302.40. Following the transaction, the insider now owns 117,327 shares of the company’s stock, valued at approximately $422,377.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other EVgo news, insider Francine Sullivan sold 12,584 shares of EVgo stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $3.60, for a total transaction of $45,302.40. Following the transaction, the insider now directly owns 117,327 shares of the company’s stock, valued at $422,377.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Dennis G. Kish sold 16,414 shares of the 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 completion of the sale, the president now directly owns 47,614 shares of the company’s stock, valued at approximately $171,410.40. The disclosure for this sale can be found here. Corporate insiders own 66.96% of the company’s stock.

Institutional Investors Weigh In On EVgo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of EVgo by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 9,698,722 shares of the company’s stock worth $24,344,000 after purchasing an additional 37,168 shares during the period. Wellington Management Group LLP boosted its stake in EVgo by 34.9% during the fourth quarter. Wellington Management Group LLP now owns 3,675,314 shares of the company’s stock worth $13,158,000 after buying an additional 951,272 shares during the period. Voisard Asset Management Group Inc. acquired a new stake in shares of EVgo during the fourth quarter valued at about $29,000. Bleakley Financial Group LLC purchased a new stake in shares of EVgo in the 1st quarter valued at approximately $36,000. Finally, Tidal Investments LLC lifted its holdings in shares of EVgo by 32.2% in the 1st quarter. Tidal Investments LLC now owns 317,945 shares of the company’s stock worth $798,000 after acquiring an additional 77,354 shares during the last quarter. Institutional investors and hedge funds 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.