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

Cantor Fitzgerald reaffirmed their overweight rating on shares of EVgo (NYSE:EVGO) in a report published on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $4.00 target price on the stock.

EVGO has been the topic of a number of other research reports. Needham & Company LLC reissued a hold rating on shares of EVgo in a research report on Wednesday, May 8th. Benchmark increased their price objective on shares of EVgo from $3.00 to $5.00 and gave the stock a buy rating in a research report on Friday, July 12th. UBS Group initiated coverage on shares of EVgo in a research report on Monday. They issued a neutral rating and a $4.00 price target on the stock. Citigroup dropped their price target on shares of EVgo from $3.00 to $2.00 and set a neutral rating on the stock in a research report on Thursday, May 9th. Finally, Evercore ISI dropped their price target on shares of EVgo from $8.00 to $7.00 and set an outperform rating on the stock in a research report on Monday, May 13th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, EVgo presently has an average rating of Moderate Buy and an average price target of $4.29.

EVgo Price Performance

EVGO stock opened at $3.62 on Monday. The stock has a market capitalization of $1.09 billion, a PE ratio of -9.53 and a beta of 2.58. The company’s 50-day moving average is $2.57 and its 200-day moving average is $2.42. EVgo has a 1 year low of $1.65 and a 1 year high of $5.95.

EVgo (NYSE:EVGO) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The company had revenue of $55.16 million for the quarter, compared to the consensus estimate of $52.41 million. EVgo’s revenue for the quarter was up 118.0% compared to the same quarter last year. During the same period last year, the company earned ($0.09) EPS. On average, analysts anticipate that EVgo will post -0.38 earnings per share for the current fiscal year.

Insider Buying and Selling at EVgo

In other news, CEO Badar Khan acquired 125,000 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was purchased at an average price of $2.01 per share, for a total transaction of $251,250.00. Following the purchase, the chief executive officer now owns 143,874 shares in the company, valued at approximately $289,186.74. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 66.96% of the company’s stock.

Institutional Investors Weigh In On EVgo

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Voisard Asset Management Group Inc. purchased a new stake in shares of EVgo during the 4th quarter worth approximately $29,000. Simplicity Wealth LLC purchased a new stake in shares of EVgo during the 1st quarter worth approximately $36,000. Bleakley Financial Group LLC purchased a new stake in shares of EVgo during the 1st quarter worth approximately $36,000. SG Americas Securities LLC purchased a new position in EVgo in the 1st quarter valued at approximately $41,000. Finally, Sippican Capital Advisors purchased a new position in EVgo in the 4th quarter valued at approximately $43,000. 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.