EVgo (NYSE:EVGO) Raised to Strong-Buy at Capital One Financial

EVgo (NYSE:EVGO) was upgraded by equities research analysts at Capital One Financial to a “strong-buy” rating in a note issued to investors on Monday, Zacks.com reports. Capital One Financial also issued estimates for EVgo’s FY2025 earnings at ($0.39) EPS.

A number of other equities research analysts have also recently issued reports on EVGO. UBS Group began coverage on EVgo in a research note on Monday, July 22nd. They set a “neutral” rating and a $4.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $5.00 target price on shares of EVgo in a report on Monday, September 9th. Needham & Company LLC restated a “hold” rating on shares of EVgo in a report on Thursday, August 29th. Benchmark increased their target price 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 target on EVgo from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Four equities 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $4.63.

EVgo Price Performance

Shares of EVgo stock opened at $4.70 on Monday. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -12.37 and a beta of 2.59. EVgo has a one year low of $1.65 and a one year high of $4.74. The stock’s 50-day moving average is $3.91 and its 200-day moving average is $2.81.

EVgo (NYSE:EVGO) last released its earnings results on Thursday, August 1st. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.01. The firm had revenue of $66.62 million during the quarter, compared to the consensus estimate of $59.40 million. The company’s revenue was up 31.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.08) EPS. On average, equities analysts expect that EVgo will post -0.4 EPS for the current year.

Insider Buying and Selling at EVgo

In related news, insider Francine Sullivan sold 12,584 shares of the company’s stock in a transaction on 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 directly owns 117,327 shares in the company, valued at approximately $422,377.20. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Francine Sullivan sold 12,584 shares of the company’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 $45,302.40. Following the completion of the transaction, the insider now directly owns 117,327 shares in the company, valued at approximately $422,377.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Dennis G. Kish sold 16,414 shares of the 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 31,475 shares of company stock valued at $110,189. 66.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. KBC Group NV raised its stake in shares of EVgo by 88.7% during the fourth quarter. KBC Group NV now owns 227,367 shares of the company’s stock valued at $814,000 after acquiring an additional 106,869 shares during the last quarter. Blueshift Asset Management LLC acquired a new position in EVgo during the 4th quarter worth about $72,000. Voisard Asset Management Group Inc. bought a new stake in shares of EVgo in the 4th quarter valued at about $29,000. Wellington Management Group LLP increased its stake in shares of EVgo by 34.9% in the fourth quarter. Wellington Management Group LLP now owns 3,675,314 shares of the company’s stock valued at $13,158,000 after buying an additional 951,272 shares during the period. Finally, Simplicity Wealth LLC acquired a new position in shares of EVgo in the first quarter worth approximately $36,000. 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.