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

Cantor Fitzgerald restated their overweight rating on shares of EVgo (NYSE:EVGO) in a research report report published on Monday morning, Benzinga reports. The firm currently has a $4.00 target price on the stock.

A number of other brokerages have also recently commented on EVGO. Citigroup reduced their target price on shares of EVgo from $3.00 to $2.00 and set a neutral rating for the company in a report on Thursday, May 9th. UBS Group started coverage on shares of EVgo in a report on Monday. They set a neutral rating and a $4.00 target price for the company. Needham & Company LLC reaffirmed a hold rating on shares of EVgo in a report on Wednesday, May 8th. Evercore ISI reduced their target price on shares of EVgo from $8.00 to $7.00 and set an outperform rating for the company in a report on Monday, May 13th. Finally, Royal Bank of Canada reaffirmed an outperform rating and set a $4.00 target price on shares of EVgo in a report on Friday, April 5th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $4.29.

EVgo Stock Down 3.5 %

Shares of EVgo stock opened at $3.62 on Monday. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -9.53 and a beta of 2.58. The company’s 50 day moving average is $2.57 and its 200 day moving average is $2.42. EVgo has a twelve month low of $1.65 and a twelve month high of $5.95.

EVgo (NYSE:EVGO) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The company had revenue of $55.16 million for the quarter, compared to the consensus estimate of $52.41 million. During the same quarter last year, the company earned ($0.09) EPS. The firm’s revenue for the quarter was up 118.0% on a year-over-year basis. Sell-side analysts expect that EVgo will post -0.38 EPS for the current fiscal year.

Insider Activity at EVgo

In related news, CEO Badar Khan bought 125,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was bought at an average cost of $2.01 per share, with a total value of $251,250.00. Following the completion of the purchase, the chief executive officer now owns 143,874 shares of the company’s stock, valued at approximately $289,186.74. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 66.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On EVgo

Several institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its position in EVgo by 11.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 63,392 shares of the company’s stock valued at $160,000 after purchasing an additional 6,633 shares during the last quarter. SG Americas Securities LLC lifted its position in EVgo by 47.0% during the second quarter. SG Americas Securities LLC now owns 24,049 shares of the company’s stock valued at $59,000 after purchasing an additional 7,687 shares during the last quarter. Voisard Asset Management Group Inc. bought a new position in EVgo during the fourth quarter valued at $29,000. Atria Wealth Solutions Inc. lifted its position in EVgo by 3.2% during the fourth quarter. Atria Wealth Solutions Inc. now owns 288,368 shares of the company’s stock valued at $1,032,000 after purchasing an additional 8,879 shares during the last quarter. Finally, PFG Investments LLC lifted its position in EVgo by 94.2% during the first quarter. PFG Investments LLC now owns 20,976 shares of the company’s stock valued at $53,000 after purchasing an additional 10,176 shares during the last quarter. Institutional investors own 17.44% of the company’s stock.

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.