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

Cantor Fitzgerald reissued their overweight rating on shares of EVgo (NYSE:EVGO) in a report released on Monday, Benzinga reports. Cantor Fitzgerald currently has a $5.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the company. UBS Group began coverage on EVgo in a research report on Monday, July 22nd. They set a neutral rating and a $4.00 price objective for the company. Needham & Company LLC reissued a hold rating on shares of EVgo in a research report on Thursday, August 29th. Stifel Nicolaus dropped their target price on shares of EVgo from $7.00 to $6.00 and set a buy rating on the stock in a research report on Tuesday, August 6th. Benchmark increased their price target on shares of EVgo from $3.00 to $5.00 and gave the company a buy rating in a report on Friday, July 12th. Finally, Capital One Financial upgraded shares of EVgo to a strong-buy rating in a research report on Monday, September 16th. Four research 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 stock. According to data from MarketBeat.com, EVgo presently has an average rating of Moderate Buy and a consensus price target of $4.63.

EVgo Stock Up 1.0 %

Shares of EVgo stock opened at $4.11 on Monday. EVgo has a 12-month low of $1.65 and a 12-month high of $4.80. The stock has a market capitalization of $1.24 billion, a P/E ratio of -10.82 and a beta of 2.59. The stock has a 50 day moving average price of $3.98 and a two-hundred day moving average price of $2.87.

EVgo (NYSE:EVGO) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, topping 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. EVgo’s quarterly revenue was up 31.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.08) earnings per share. Sell-side analysts anticipate that EVgo will post -0.4 earnings per share for the current year.

Insider Transactions at EVgo

In related news, President Dennis G. Kish sold 16,414 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 value of $59,090.40. Following the sale, the president now owns 47,614 shares of the company’s stock, valued at $171,410.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other EVgo news, President Dennis G. Kish sold 16,414 shares of EVgo 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 sale, the president now directly owns 47,614 shares of the company’s stock, valued at $171,410.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Francine Sullivan sold 12,584 shares of the 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 completion of the transaction, the insider now directly 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 three months, insiders sold 31,475 shares of company stock valued at $110,189. Company insiders own 66.96% of the company’s stock.

Institutional Investors Weigh In On EVgo

Several large investors have recently made changes to their positions in EVGO. Legacy Capital Wealth Partners LLC bought a new position in EVgo during the 2nd quarter valued at about $27,000. Voisard Asset Management Group Inc. acquired a new stake in shares of EVgo during the fourth quarter worth approximately $29,000. Bleakley Financial Group LLC bought a new position in shares of EVgo in the first quarter valued at approximately $36,000. SG Americas Securities LLC acquired a new position in shares of EVgo in the 1st quarter worth approximately $41,000. Finally, Point72 DIFC Ltd bought a new stake in EVgo during the 2nd quarter worth approximately $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.