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

Cantor Fitzgerald reissued their overweight rating on shares of EVgo (NYSE:EVGO) in a research note issued to investors on Monday, Benzinga reports. Cantor Fitzgerald currently has a $4.00 target price on the stock.

Several other brokerages have also issued reports on EVGO. Royal Bank of Canada reissued an outperform rating and issued a $4.00 price target on shares of EVgo in a report on Friday, April 5th. Needham & Company LLC restated a hold rating on shares of EVgo in a research note on Wednesday, May 8th. Citigroup reduced their target price on shares of EVgo from $3.00 to $2.00 and set a neutral rating on the stock in a research note on Thursday, May 9th. Benchmark started coverage on shares of EVgo in a research note on Wednesday, June 5th. They issued a buy rating and a $3.00 target price on the stock. Finally, Evercore ISI reduced their target price on shares of EVgo from $8.00 to $7.00 and set an outperform rating on the stock in a research note on Monday, May 13th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $4.00.

EVgo Price Performance

EVgo stock opened at $2.53 on Monday. The firm’s 50 day simple moving average is $2.09 and its 200-day simple moving average is $2.42. The company has a market cap of $764.14 million, a P/E ratio of -6.66 and a beta of 2.58. EVgo has a fifty-two week low of $1.65 and a fifty-two week high of $5.95.

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

Insiders Place Their Bets

In related news, CEO Badar Khan acquired 125,000 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was bought at an average price of $2.01 per share, with a total value of $251,250.00. Following the acquisition, 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 Securities & Exchange Commission, which is available through the SEC website. Insiders own 66.96% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in EVGO. Voisard Asset Management Group Inc. bought a new position in EVgo during the 4th quarter worth $29,000. Simplicity Wealth LLC acquired a new position in EVgo in the first quarter valued at about $36,000. Bleakley Financial Group LLC bought a new stake in EVgo during the first quarter worth about $36,000. SG Americas Securities LLC acquired a new stake in EVgo during the first quarter worth about $41,000. Finally, Sippican Capital Advisors bought a new stake in shares of EVgo during the 4th quarter worth approximately $43,000. 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.