Cantor Fitzgerald Reaffirms “Overweight” Rating for EVgo (NYSE:EVGO)

EVgo (NYSE:EVGO)‘s stock had its “overweight” rating reiterated by Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They presently have a $5.00 price target on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 30.21% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Stifel Nicolaus reduced their price target on shares of EVgo from $7.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Capital One Financial raised shares of EVgo to a “strong-buy” rating in a research note on Monday, September 16th. UBS Group assumed 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. Benchmark boosted their price target on EVgo from $3.00 to $5.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a research note on Thursday, August 29th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $4.63.

EVgo Trading Down 7.2 %

Shares of EVGO opened at $3.84 on Monday. The firm has a market capitalization of $1.16 billion, a P/E ratio of -10.11 and a beta of 2.59. EVgo has a 12-month low of $1.65 and a 12-month high of $4.80. The firm has a fifty day moving average price of $4.01 and a 200-day moving average price of $2.91.

EVgo (NYSE:EVGO) last issued its earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm earned ($0.08) earnings per share. The company’s revenue for the quarter was up 31.8% on a year-over-year basis. Analysts predict that EVgo will post -0.4 earnings per share for the current year.

Insider Activity at EVgo

In other news, insider Francine Sullivan sold 12,584 shares of the business’s stock in a transaction on 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 $422,377.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other EVgo news, President Dennis G. Kish sold 16,414 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were 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 approximately $171,410.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Francine Sullivan sold 12,584 shares of EVgo stock in a transaction that occurred on 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 owns 117,327 shares of the company’s stock, valued at $422,377.20. The disclosure for this sale can be found here. 66.96% of the stock is currently owned by insiders.

Institutional Trading of EVgo

Hedge funds and other institutional investors have recently made changes to their positions in the business. Voisard Asset Management Group Inc. purchased a new position in EVgo during the fourth quarter valued at approximately $29,000. Legacy Capital Wealth Partners LLC acquired a new position in shares of EVgo in the 2nd quarter valued at $27,000. Bleakley Financial Group LLC acquired a new stake in EVgo during the first quarter valued at $36,000. SG Americas Securities LLC purchased a new position in EVgo in the first quarter valued at $41,000. Finally, Point72 DIFC Ltd acquired a new position in shares of EVgo in the second quarter worth about $45,000. Institutional investors and hedge funds 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.