EVgo (NYSE:EVGO) Raised to “Strong-Buy” at Marathon Capitl

EVgo (NYSE:EVGO) was upgraded by research analysts at Marathon Capitl from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday, Zacks.com reports.

A number of other research firms have also recently commented on EVGO. Capital One Financial raised EVgo to a “strong-buy” rating in a research note on Monday, September 16th. TD Cowen raised shares of EVgo from a “hold” rating to a “buy” rating and boosted their target price for the company from $5.00 to $7.00 in a research note on Thursday, October 3rd. Royal Bank of Canada upped their price target on shares of EVgo from $4.00 to $8.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Stifel Nicolaus lowered their price objective on shares of EVgo from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. 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 research note on Friday, July 12th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, EVgo presently has an average rating of “Buy” and an average price target of $6.17.

EVgo Stock Down 3.0 %

NYSE EVGO opened at $8.01 on Tuesday. EVgo has a 52 week low of $1.65 and a 52 week high of $8.80. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -21.24 and a beta of 2.58. The company has a fifty day moving average of $5.07 and a two-hundred day moving average of $3.42.

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

Insider Buying and Selling

In related news, insider Francine Sullivan sold 12,584 shares of the company’s 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 directly owns 117,327 shares in the company, valued at $422,377.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other EVgo news, President Dennis G. Kish sold 16,414 shares of the firm’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 value of $59,090.40. Following the completion of the sale, the president now directly owns 47,614 shares in the company, valued at $171,410.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Francine Sullivan sold 12,584 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $3.60, for a total value of $45,302.40. Following the sale, the insider now owns 117,327 shares of the company’s stock, valued at approximately $422,377.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 66.96% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Creative Planning boosted its holdings in EVgo by 32.7% in the third quarter. Creative Planning now owns 13,365 shares of the company’s stock worth $55,000 after acquiring an additional 3,297 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in EVgo by 11.7% during the 1st 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 last quarter. SG Americas Securities LLC increased its stake in EVgo by 47.0% during the 2nd quarter. SG Americas Securities LLC now owns 24,049 shares of the company’s stock valued at $59,000 after purchasing an additional 7,687 shares in the last quarter. Atria Wealth Solutions Inc. raised its holdings in shares of EVgo by 2.8% in the second quarter. Atria Wealth Solutions Inc. now owns 330,871 shares of the company’s stock worth $811,000 after buying an additional 8,940 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC purchased a new position in shares of EVgo in the second quarter worth $27,000. 17.44% of the stock is 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.