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

EVgo (NYSE:EVGO)‘s stock had its “overweight” rating restated by equities researchers at Cantor Fitzgerald in a research note issued on Monday, Benzinga reports. They currently have a $5.00 target price on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 20.19% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. Capital One Financial raised EVgo to a “strong-buy” rating in a report on Monday, September 16th. Stifel Nicolaus dropped their price objective on EVgo from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a research note on Thursday, August 29th. Benchmark boosted their price target on EVgo from $3.00 to $5.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Finally, UBS Group initiated coverage on shares of EVgo in a research report on Monday, July 22nd. They set a “neutral” rating and a $4.00 price objective for the company. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $4.63.

EVgo Trading Down 1.0 %

NYSE EVGO traded down $0.04 on Monday, hitting $4.16. 1,138,621 shares of the company’s stock were exchanged, compared to its average volume of 3,130,261. EVgo has a 52 week low of $1.65 and a 52 week high of $4.80. The stock has a 50-day moving average of $3.96 and a 200-day moving average of $2.84. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -10.87 and a beta of 2.59.

EVgo (NYSE:EVGO) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $59.40 million. The business’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same period last year, the business earned ($0.08) earnings per share. As a group, analysts predict that EVgo will post -0.4 earnings per share for the current year.

Insider Transactions at EVgo

In other news, President Dennis G. Kish sold 16,414 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $3.60, for a total transaction of $59,090.40. Following the completion of the transaction, the president now owns 47,614 shares in the company, valued at approximately $171,410.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Francine Sullivan sold 12,584 shares of the business’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 sale, the insider now directly owns 117,327 shares in the company, valued at approximately $422,377.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Dennis G. Kish sold 16,414 shares of the 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 sale, the president now directly owns 47,614 shares in the company, valued at approximately $171,410.40. The disclosure for this sale can be found here. Insiders have sold 31,475 shares of company stock worth $110,189 in the last 90 days. Insiders own 66.96% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Legacy Capital Wealth Partners LLC purchased a new stake in EVgo in the second quarter valued at approximately $27,000. Voisard Asset Management Group Inc. purchased a new stake in shares of EVgo during the 4th quarter valued at $29,000. Bleakley Financial Group LLC bought a new stake in shares of EVgo during the 1st quarter worth $36,000. SG Americas Securities LLC purchased a new position in EVgo in the first quarter worth $41,000. Finally, Point72 DIFC Ltd bought a new position in EVgo in the second quarter valued at $45,000. 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.