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

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

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

EVgo Trading Up 2.3 %

Shares of EVGO opened at $3.93 on Monday. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -10.34 and a beta of 2.59. The business’s fifty day simple moving average is $4.01 and its two-hundred day simple moving average is $2.91. EVgo has a 12 month low of $1.65 and a 12 month high of $4.80.

EVgo (NYSE:EVGO) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.01. The business had revenue of $66.62 million for the quarter, compared to analysts’ expectations of $59.40 million. During the same period last year, the business earned ($0.08) earnings per share. The company’s quarterly revenue was up 31.8% on a year-over-year basis. As a group, research analysts forecast that EVgo will post -0.4 EPS for the current year.

Insiders Place Their Bets

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 shares were sold at an average price of $3.60, for a total transaction of $59,090.40. Following the transaction, the president now owns 47,614 shares of the company’s stock, valued at $171,410.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Francine Sullivan sold 12,584 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $3.60, for a total transaction of $45,302.40. Following the completion of the sale, the insider now owns 117,327 shares in the company, valued at $422,377.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Dennis G. Kish sold 16,414 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 value of $59,090.40. Following the sale, the president now directly owns 47,614 shares in the company, valued at approximately $171,410.40. The disclosure for this sale can be found here. Company insiders own 66.96% of the company’s stock.

Institutional Investors Weigh In On EVgo

A number of institutional investors have recently added to or reduced their stakes in the stock. Legacy Capital Wealth Partners LLC purchased a new stake in shares of EVgo in the second quarter worth about $27,000. Voisard Asset Management Group Inc. purchased a new stake in shares of EVgo during the 4th quarter worth approximately $29,000. Bleakley Financial Group LLC purchased a new stake in shares of EVgo during the 1st quarter worth approximately $36,000. SG Americas Securities LLC bought a new position in shares of EVgo during the 1st quarter valued at approximately $41,000. Finally, Point72 DIFC Ltd purchased a new position in shares of EVgo in the second quarter valued at $45,000. 17.44% of the stock is owned by hedge funds and other institutional investors.

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.