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

Cantor Fitzgerald reissued their overweight rating on shares of EVgo (NYSE:EVGO) in a report published on Tuesday morning, Benzinga reports. Cantor Fitzgerald currently has a $5.00 target price on the stock.

EVGO has been the topic of a number of other research reports. Citigroup cut their price target on shares of EVgo from $3.00 to $2.00 and set a neutral rating on the stock in a report on Thursday, May 9th. Benchmark upped their price target on EVgo from $3.00 to $5.00 and gave the stock a buy rating in a research note on Friday, July 12th. Stifel Nicolaus cut 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. Evercore ISI reduced their price target on EVgo from $8.00 to $7.00 and set an outperform rating for the company in a report on Monday, May 13th. Finally, UBS Group initiated coverage on shares of EVgo in a research report on Monday, July 22nd. They set a neutral rating and a $4.00 price target for the company. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $4.63.

EVgo Stock Performance

Shares of NYSE:EVGO opened at $4.17 on Tuesday. The firm has a fifty day moving average of $3.58 and a 200 day moving average of $2.69. EVgo has a 52-week low of $1.65 and a 52-week high of $4.70. The firm has a market capitalization of $1.26 billion, a PE ratio of -10.96 and a beta of 2.58.

EVgo (NYSE:EVGO) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The business had revenue of $66.62 million during the quarter, compared to analysts’ expectations of $59.40 million. During the same period last year, the company posted ($0.08) EPS. EVgo’s revenue for the quarter was up 31.8% on a year-over-year basis. On average, sell-side analysts forecast that EVgo will post -0.4 EPS for the current fiscal year.

Insider Activity

In other EVgo news, insider Francine Sullivan sold 12,584 shares of the company’s stock in a transaction dated 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 in the company, valued at $422,377.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, President Dennis G. Kish sold 16,414 shares of the business’s 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 transaction, the president now owns 47,614 shares of the company’s stock, valued at $171,410.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the sale, the insider now owns 117,327 shares in the company, valued at approximately $422,377.20. The disclosure for this sale can be found here. Insiders sold 31,475 shares of company stock valued at $110,189 in the last quarter. 66.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EVgo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EVGO. Legacy Capital Wealth Partners LLC purchased a new stake in shares of EVgo in the second quarter valued at $27,000. Voisard Asset Management Group Inc. purchased a new stake in shares of EVgo in the fourth quarter worth approximately $29,000. Simplicity Wealth LLC bought a new stake in shares of EVgo during the 1st quarter worth approximately $36,000. Bleakley Financial Group LLC purchased a new position in EVgo during the 1st quarter valued at $36,000. Finally, SG Americas Securities LLC bought a new position in EVgo in the 1st quarter valued at $41,000. 17.44% of the stock is owned by institutional investors.

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.