EVgo (NYSE:EVGO) Earns “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of EVgo (NYSE:EVGO) in a report issued on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $4.00 price objective on the stock.

A number of other analysts have also weighed in on EVGO. Evercore ISI cut their price objective on EVgo from $8.00 to $7.00 and set an outperform rating on the stock in a research report on Monday, May 13th. Royal Bank of Canada reaffirmed an outperform rating and issued a $4.00 price target on shares of EVgo in a research report on Friday, April 5th. Needham & Company LLC reiterated a hold rating on shares of EVgo in a research note on Wednesday, May 8th. Citigroup cut 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. Finally, Benchmark lifted their price target on shares of EVgo from $3.00 to $5.00 and gave the stock a buy rating in a research note on Friday, July 12th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $4.33.

EVgo Trading Down 9.0 %

EVGO opened at $3.72 on Monday. The stock’s 50-day moving average price is $2.39 and its 200 day moving average price is $2.40. EVgo has a 12-month low of $1.65 and a 12-month high of $5.95. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -9.79 and a beta of 2.58.

EVgo (NYSE:EVGO) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.02. The business had revenue of $55.16 million during the quarter, compared to analysts’ expectations of $52.41 million. During the same period in the previous year, the business posted ($0.09) EPS. The company’s revenue for the quarter was up 118.0% compared to the same quarter last year. On average, research analysts forecast that EVgo will post -0.38 earnings per share for the current year.

Insider Transactions at EVgo

In other EVgo news, CEO Badar Khan acquired 125,000 shares of the stock in a transaction on Monday, May 13th. The shares were bought at an average cost of $2.01 per share, with a total value of $251,250.00. Following the transaction, the chief executive officer now owns 143,874 shares of the company’s stock, valued at approximately $289,186.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 66.96% of the company’s stock.

Hedge Funds Weigh In On EVgo

Several institutional investors have recently bought and sold shares of the company. Voisard Asset Management Group Inc. acquired a new position in EVgo during the 4th quarter worth approximately $29,000. Simplicity Wealth LLC acquired a new stake in EVgo in the first quarter valued at $36,000. Bleakley Financial Group LLC acquired a new stake in EVgo in the first quarter valued at $36,000. SG Americas Securities LLC acquired a new position in shares of EVgo during the 1st quarter worth $41,000. Finally, Sippican Capital Advisors purchased a new position in shares of EVgo in the 4th quarter valued at about $43,000. 17.44% of the stock is 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.