EVgo (NYSE:EVGO) Rating Increased to Buy at UBS Group

EVgo (NYSE:EVGO) was upgraded by equities researchers at UBS Group from a “neutral” rating to a “buy” rating in a research report issued on Thursday, Marketbeat.com reports. The firm presently has a $8.50 price objective on the stock, up from their prior price objective of $4.00. UBS Group’s target price would indicate a potential upside of 20.40% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. TD Cowen upgraded shares of EVgo from a “hold” rating to a “buy” rating and lifted their price target for the company from $5.00 to $7.00 in a report on Thursday, October 3rd. Benchmark boosted their price target on shares of EVgo from $3.00 to $5.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Cantor Fitzgerald restated an “overweight” rating and issued a $5.00 price objective on shares of EVgo in a report on Monday, September 30th. Stifel Nicolaus decreased 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. Finally, Capital One Financial upgraded EVgo to a “strong-buy” rating in a research report on Monday, September 16th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $6.17.

EVgo Stock Up 5.8 %

NYSE:EVGO opened at $7.06 on Thursday. The firm has a market capitalization of $2.13 billion, a P/E ratio of -18.58 and a beta of 2.58. The company has a fifty day moving average of $4.32 and a 200 day moving average of $3.07. EVgo has a 52 week low of $1.65 and a 52 week high of $7.69.

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

Insider Buying and Selling at EVgo

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

Institutional Trading of EVgo

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