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

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

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

EVgo Stock Up 2.3 %

EVgo stock opened at $3.93 on Monday. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -10.34 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 $2.91. EVgo has a 52 week low of $1.65 and a 52 week high of $4.80.

EVgo (NYSE:EVGO) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) earnings per share 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 the consensus estimate of $59.40 million. During the same quarter last year, the company posted ($0.08) earnings per share. The firm’s revenue for the quarter was up 31.8% on a year-over-year basis. On average, research analysts anticipate that EVgo will post -0.4 earnings per share for the current year.

Insider Activity at EVgo

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

Institutional Trading of EVgo

Institutional investors and hedge funds have recently bought and sold shares of the stock. KBC Group NV raised its holdings in EVgo by 88.7% in the fourth quarter. KBC Group NV now owns 227,367 shares of the company’s stock worth $814,000 after purchasing an additional 106,869 shares in the last quarter. Blueshift Asset Management LLC bought a new position in shares of EVgo in the 4th quarter worth about $72,000. Voisard Asset Management Group Inc. purchased a new position in EVgo during the 4th quarter valued at about $29,000. 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 acquiring an additional 951,272 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in EVgo in the first quarter worth about $71,000. 17.44% of the stock is currently owned by hedge funds and other 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.