EVgo (NYSE:EVGO) Stock Rating Reaffirmed by 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 $5.00 target price on the stock.

A number of other research analysts have also recently commented on EVGO. Evercore ISI reduced their price objective on EVgo from $8.00 to $7.00 and set an outperform rating on the stock in a research note on Monday, May 13th. Stifel Nicolaus dropped their target price on EVgo from $7.00 to $6.00 and set a buy rating on the stock in a research report on Tuesday, August 6th. UBS Group began coverage on EVgo in a research report on Monday, July 22nd. They set a neutral rating and a $4.00 target price on the stock. Needham & Company LLC reaffirmed a hold rating on shares of EVgo in a research report on Thursday, August 29th. Finally, Benchmark lifted their target price on EVgo from $3.00 to $5.00 and gave the stock a buy rating in a research report on Friday, July 12th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, EVgo currently has a consensus rating of Moderate Buy and a consensus target price of $4.63.

EVgo Trading Up 2.8 %

Shares of EVgo stock opened at $4.42 on Monday. EVgo has a twelve month low of $1.65 and a twelve month high of $4.70. The stock has a market capitalization of $1.33 billion, a P/E ratio of -11.63 and a beta of 2.59. The business’s fifty day moving average price is $3.81 and its 200 day moving average price is $2.77.

EVgo (NYSE:EVGO) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. The company had revenue of $66.62 million for the quarter, compared to analyst estimates of $59.40 million. The company’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.08) EPS. As a group, sell-side analysts predict that EVgo will post -0.4 EPS for the current year.

Insider Activity

In other news, President Dennis G. Kish sold 16,414 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 $59,090.40. Following the completion of the transaction, the president now directly owns 47,614 shares of the company’s stock, valued at $171,410.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, President Dennis G. Kish sold 16,414 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 $59,090.40. Following the completion of the transaction, the president now directly owns 47,614 shares of the company’s stock, valued at $171,410.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Francine Sullivan sold 12,584 shares of the business’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 value of $45,302.40. Following the transaction, 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. Over the last ninety days, insiders sold 31,475 shares of company stock valued at $110,189. 66.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EVgo

Several hedge funds and other institutional investors have recently made changes to their positions in EVGO. Point72 Asset Management L.P. acquired a new stake in EVgo in the second quarter worth approximately $1,749,000. Squarepoint Ops LLC acquired a new stake in EVgo in the second quarter worth approximately $495,000. HITE Hedge Asset Management LLC acquired a new stake in EVgo in the second quarter worth approximately $495,000. Point72 DIFC Ltd acquired a new stake in EVgo in the second quarter worth approximately $45,000. Finally, Marshall Wace LLP lifted its position in shares of EVgo by 66.4% during the 2nd quarter. Marshall Wace LLP now owns 1,633,304 shares of the company’s stock valued at $4,002,000 after acquiring an additional 651,475 shares during the last quarter. 17.44% of the stock is currently owned by institutional investors and hedge funds.

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.