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

Cantor Fitzgerald reaffirmed their overweight rating on shares of EVgo (NYSE:EVGO) in a report released on Monday morning, Benzinga reports. The firm currently has a $5.00 price objective on the stock.

Several other brokerages also recently weighed in on EVGO. Capital One Financial raised EVgo to a strong-buy rating in a research note on Monday, September 16th. Stifel Nicolaus decreased their price objective on shares of EVgo from $7.00 to $6.00 and set a buy rating on the stock in a report on Tuesday, August 6th. Needham & Company LLC reissued a hold rating on shares of EVgo in a research note on Thursday, August 29th. UBS Group began coverage on shares of EVgo in a research note on Monday, July 22nd. They issued a neutral rating and a $4.00 price target on the stock. Finally, Benchmark boosted their price objective on EVgo from $3.00 to $5.00 and gave the stock a buy rating in a research note on Friday, July 12th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, EVgo has a consensus rating of Moderate Buy and an average target price of $5.22.

EVgo Price Performance

EVGO opened at $6.32 on Monday. The stock has a market cap of $1.91 billion, a P/E ratio of -16.63 and a beta of 2.58. The firm has a fifty day moving average price of $4.01 and a 200 day moving average price of $2.91. EVgo has a 1 year low of $1.65 and a 1 year high of $6.49.

EVgo (NYSE:EVGO) last posted its earnings results on Thursday, August 1st. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The business had revenue of $66.62 million for the quarter, compared to analyst estimates of $59.40 million. EVgo’s revenue was up 31.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.08) earnings per share. Equities analysts expect that EVgo will post -0.4 EPS for the current year.

Insider Activity at EVgo

In other EVgo news, insider Francine Sullivan sold 12,584 shares of the business’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 transaction, the insider now owns 117,327 shares of the company’s stock, valued at $422,377.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other 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 sale, the president now owns 47,614 shares of the company’s stock, valued at approximately $171,410.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Francine Sullivan sold 12,584 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $3.60, for a total value of $45,302.40. Following the completion of the transaction, 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. Insiders own 66.96% of the company’s stock.

Hedge Funds Weigh In On EVgo

A number of hedge funds have recently modified their holdings of EVGO. Price T Rowe Associates Inc. MD boosted its position in shares of EVgo by 11.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 63,392 shares of the company’s stock worth $160,000 after purchasing an additional 6,633 shares during the period. SG Americas Securities LLC boosted its position in shares of EVgo by 47.0% during the second quarter. SG Americas Securities LLC now owns 24,049 shares of the company’s stock worth $59,000 after buying an additional 7,687 shares during the period. Voisard Asset Management Group Inc. acquired a new stake in shares of EVgo in the fourth quarter valued at $29,000. Atria Wealth Solutions Inc. raised its holdings in shares of EVgo by 2.8% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 330,871 shares of the company’s stock valued at $811,000 after buying an additional 8,940 shares during the period. Finally, Legacy Capital Wealth Partners LLC acquired a new position in EVgo during the 2nd quarter worth about $27,000. 17.44% of the stock is currently owned by hedge funds and other institutional investors.

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.