EVgo (NYSE:EVGO) Stock Rating Upgraded by Capital One Financial

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

Several other research firms have also weighed in on EVGO. Benchmark raised their target price on EVgo from $3.00 to $5.00 and gave the company a “buy” rating in a report on Friday, July 12th. UBS Group assumed coverage on EVgo in a research note on Monday, July 22nd. They issued a “neutral” rating and a $4.00 price objective on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a research report on Thursday, August 29th. Cantor Fitzgerald reissued an “overweight” rating and issued a $5.00 price target on shares of EVgo in a research report on Monday, September 9th. Finally, Stifel Nicolaus reduced their price objective on shares of EVgo from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Four investment 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 company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $4.63.

EVgo Stock Performance

Shares of EVGO opened at $4.70 on Monday. EVgo has a 52 week low of $1.65 and a 52 week high of $4.74. The company has a market capitalization of $1.42 billion, a PE ratio of -12.37 and a beta of 2.59. The company’s 50 day moving average price is $3.91 and its 200 day moving average price is $2.81.

EVgo (NYSE:EVGO) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.01. The firm had revenue of $66.62 million for the quarter, compared to analyst estimates of $59.40 million. The firm’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. On average, equities analysts forecast that EVgo will post -0.4 earnings per share for the current fiscal year.

Insider Transactions 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 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. In other EVgo news, President Dennis G. Kish sold 16,414 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 $59,090.40. Following the completion of the sale, the president now owns 47,614 shares in the company, valued at approximately $171,410.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Francine Sullivan sold 12,584 shares of EVgo 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 sale, the insider now directly owns 117,327 shares in the company, valued at approximately $422,377.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,475 shares of company stock worth $110,189. Insiders own 66.96% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in EVgo by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 9,698,722 shares of the company’s stock valued at $24,344,000 after buying an additional 37,168 shares during the period. Wellington Management Group LLP boosted its position in shares of EVgo by 34.9% during the 4th quarter. Wellington Management Group LLP now owns 3,675,314 shares of the company’s stock valued at $13,158,000 after acquiring an additional 951,272 shares in the last quarter. Marshall Wace LLP increased its stake in EVgo by 66.4% in the second quarter. Marshall Wace LLP now owns 1,633,304 shares of the company’s stock valued at $4,002,000 after acquiring an additional 651,475 shares during the period. SIR Capital Management L.P. raised its position in EVgo by 76.9% in the second quarter. SIR Capital Management L.P. now owns 958,600 shares of the company’s stock worth $2,349,000 after purchasing an additional 416,800 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in EVgo during the second quarter worth about $1,749,000. 17.44% of the stock is owned by 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.