EVgo (NYSE:EVGO) Raised to Strong-Buy at Capital One Financial

Capital One Financial upgraded shares of EVgo (NYSE:EVGO) to a strong-buy rating in a research note released on Monday morning, Zacks.com reports. Capital One Financial also issued estimates for EVgo’s FY2025 earnings at ($0.39) EPS.

A number of other analysts have also recently weighed in on EVGO. Cantor Fitzgerald restated an overweight rating and set a $5.00 target price on shares of EVgo in a report on Monday, September 9th. Stifel Nicolaus decreased their target price on EVgo from $7.00 to $6.00 and set a buy rating on the stock in a report on Tuesday, August 6th. Benchmark upped their target price on EVgo from $3.00 to $5.00 and gave the company a buy rating in a report on Friday, July 12th. Needham & Company LLC reissued a hold rating on shares of EVgo in a research note on Thursday, August 29th. Finally, UBS Group assumed coverage on EVgo in a report on Monday, July 22nd. They set a neutral rating and a $4.00 price objective on the stock. Four investment 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 company’s stock. According to data from MarketBeat.com, EVgo has an average rating of Moderate Buy and an average price target of $4.63.

EVgo Price Performance

Shares of NYSE EVGO opened at $4.41 on Monday. EVgo has a 1-year low of $1.65 and a 1-year high of $4.80. The firm has a market capitalization of $1.33 billion, a PE ratio of -11.61 and a beta of 2.59. The business’s fifty day moving average price is $3.91 and its two-hundred day moving average price is $2.81.

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

Insider Activity at EVgo

In other EVgo news, President Dennis G. Kish sold 16,414 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $171,410.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, President Dennis G. Kish sold 16,414 shares of the business’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 completion of the sale, the president now directly owns 47,614 shares in the company, valued at $171,410.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Francine Sullivan sold 12,584 shares of the company’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 sale, the insider now owns 117,327 shares of the company’s stock, valued at $422,377.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,475 shares of company stock valued at $110,189. Insiders own 66.96% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EVGO. Vanguard Group Inc. increased its position in shares of EVgo by 0.4% during the first quarter. Vanguard Group Inc. now owns 9,698,722 shares of the company’s stock valued at $24,344,000 after purchasing an additional 37,168 shares during the period. Wellington Management Group LLP raised its stake in shares of EVgo by 34.9% in the 4th quarter. Wellington Management Group LLP now owns 3,675,314 shares of the company’s stock valued at $13,158,000 after buying an additional 951,272 shares in the last quarter. Voisard Asset Management Group Inc. bought a new position in shares of EVgo during the 4th quarter worth about $29,000. Bleakley Financial Group LLC acquired a new stake in shares of EVgo during the 1st quarter valued at about $36,000. Finally, Tidal Investments LLC increased its stake in EVgo by 32.2% in the first quarter. Tidal Investments LLC now owns 317,945 shares of the company’s stock valued at $798,000 after acquiring an additional 77,354 shares during the period. Institutional investors own 17.44% of the company’s stock.

About EVgo

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.