EVgo (NYSE:EVGO) Rating Reiterated by Cantor Fitzgerald

EVgo (NYSE:EVGO)‘s stock had its “overweight” rating restated by equities research analysts at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They currently have a $5.00 target price on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 21.07% from the stock’s current price.

A number of other research analysts also recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of EVgo in a report on Thursday, August 29th. 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 report on Tuesday, August 6th. Benchmark increased their price objective on EVgo from $3.00 to $5.00 and gave the company a “buy” rating in a report on Friday, July 12th. Capital One Financial raised EVgo to a “strong-buy” rating in a research note on Monday, September 16th. Finally, UBS Group began coverage on EVgo in a research report on Monday, July 22nd. They set a “neutral” rating and a $4.00 target price for the company. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.63.

EVgo Trading Up 1.2 %

NYSE EVGO opened at $4.13 on Monday. EVgo has a 1-year low of $1.65 and a 1-year high of $4.80. The firm’s fifty day simple moving average is $3.96 and its 200-day simple moving average is $2.86. The company has a market capitalization of $1.25 billion, a PE ratio of -10.87 and a beta of 2.59.

EVgo (NYSE:EVGO) last issued its earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate 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. The business’s revenue for the quarter was up 31.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.08) earnings per share. As a group, analysts predict that EVgo will post -0.4 EPS for the current year.

Insider Activity

In other EVgo news, President Dennis G. Kish sold 16,414 shares of the stock in a transaction 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 completion of the sale, the president now directly owns 47,614 shares of the company’s stock, valued at approximately $171,410.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other EVgo news, President Dennis G. Kish sold 16,414 shares of the company’s 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 $59,090.40. Following the completion of the transaction, the president now owns 47,614 shares of the company’s stock, valued at approximately $171,410.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Francine Sullivan sold 12,584 shares of the firm’s 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 sale, the insider now owns 117,327 shares of the company’s stock, valued at approximately $422,377.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,475 shares of company stock valued at $110,189. 66.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On EVgo

Several institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP grew its stake in shares of EVgo by 34.9% in the 4th quarter. Wellington Management Group LLP now owns 3,675,314 shares of the company’s stock valued at $13,158,000 after purchasing an additional 951,272 shares during the period. Point72 Asset Management L.P. bought a new stake in EVgo in the second quarter valued at $1,749,000. Marshall Wace LLP raised its stake in EVgo by 66.4% during the second quarter. Marshall Wace LLP now owns 1,633,304 shares of the company’s stock worth $4,002,000 after acquiring an additional 651,475 shares in the last quarter. SIR Capital Management L.P. lifted its holdings in shares of EVgo by 76.9% during the second quarter. SIR Capital Management L.P. now owns 958,600 shares of the company’s stock valued at $2,349,000 after acquiring an additional 416,800 shares during the period. Finally, HITE Hedge Asset Management LLC acquired a new stake in shares of EVgo in the 2nd quarter valued at $495,000. Institutional investors 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.