EVgo (NYSE:EVGO) Price Target Increased to $5.00 by Analysts at Cantor Fitzgerald

EVgo (NYSE:EVGO) had its price target hoisted by Cantor Fitzgerald from $4.00 to $5.00 in a report published on Friday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also commented on the stock. Royal Bank of Canada reaffirmed an outperform rating and issued a $4.00 price objective on shares of EVgo in a research note on Friday, April 5th. Needham & Company LLC reaffirmed a hold rating on shares of EVgo in a research report on Friday. Citigroup lowered their price objective on EVgo from $3.00 to $2.00 and set a neutral rating for the company in a research report on Thursday, May 9th. Benchmark boosted their price target on EVgo from $3.00 to $5.00 and gave the company a buy rating in a research note on Friday, July 12th. Finally, Evercore ISI lowered their price objective on shares of EVgo from $8.00 to $7.00 and set an outperform rating for the company in a research note on Monday, May 13th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, EVgo has a consensus rating of Moderate Buy and an average price target of $4.63.

EVgo Stock Performance

Shares of EVgo stock traded down $0.10 during midday trading on Friday, hitting $3.64. 1,605,364 shares of the company traded hands, compared to its average volume of 3,216,520. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -9.84 and a beta of 2.58. The firm’s fifty day moving average price is $2.80 and its 200-day moving average price is $2.47. EVgo has a 12 month low of $1.65 and a 12 month high of $5.43.

EVgo (NYSE:EVGO) last issued its earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. The firm had revenue of $66.62 million during the quarter, compared to analyst estimates of $59.40 million. During the same period in the previous year, the company earned ($0.08) EPS. EVgo’s revenue for the quarter was up 31.8% on a year-over-year basis. Equities 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 bought 125,000 shares of EVgo stock in a transaction dated Monday, May 13th. The shares were purchased at an average cost of $2.01 per share, for a total transaction of $251,250.00. Following the acquisition, the chief executive officer now directly owns 143,874 shares in the company, valued at approximately $289,186.74. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 66.96% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of EVGO. Legacy Capital Wealth Partners LLC purchased a new stake in shares of EVgo in the second quarter valued at approximately $27,000. Voisard Asset Management Group Inc. purchased a new stake in EVgo in the 4th quarter worth $29,000. Simplicity Wealth LLC purchased a new stake in EVgo in the 1st quarter worth $36,000. Bleakley Financial Group LLC acquired a new position in EVgo during the first quarter worth $36,000. Finally, SG Americas Securities LLC purchased a new position in EVgo during the first quarter valued at $41,000. Institutional investors and hedge funds own 17.44% of the company’s stock.

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.