EVgo (NYSE:EVGO – Get Free Report)‘s stock had its “overweight” rating reissued by equities researchers at Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $5.00 price target on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 20.19% from the company’s previous close.
A number of other brokerages have also recently issued reports on EVGO. Benchmark upped their price target on shares of EVgo from $3.00 to $5.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Capital One Financial raised EVgo to a “strong-buy” rating in a report on Monday, September 16th. UBS Group assumed coverage on shares of EVgo in a research report on Monday, July 22nd. They issued 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 Thursday, August 29th. Finally, Stifel Nicolaus lowered their target price on EVgo from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $4.63.
View Our Latest Report on EVgo
EVgo Trading Down 1.0 %
EVgo (NYSE:EVGO – Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. The firm had revenue of $66.62 million for the quarter, compared to analysts’ expectations of $59.40 million. The firm’s revenue was up 31.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.08) EPS. Analysts predict that EVgo will post -0.4 earnings per share for the current year.
Insiders Place Their Bets
In other EVgo news, President Dennis G. Kish sold 16,414 shares of the stock in a transaction 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 document filed with the Securities & Exchange Commission, which is available at this link. In other news, President Dennis G. Kish sold 16,414 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 $59,090.40. Following the completion of 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 filing with the SEC, which is accessible through this hyperlink. Also, insider Francine Sullivan sold 12,584 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 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. Insiders sold a total of 31,475 shares of company stock worth $110,189 over the last three months. 66.96% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On EVgo
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. KBC Group NV grew its holdings in EVgo by 88.7% during the 4th quarter. KBC Group NV now owns 227,367 shares of the company’s stock valued at $814,000 after buying an additional 106,869 shares in the last quarter. Blueshift Asset Management LLC purchased a new position in shares of EVgo in the fourth quarter valued at $72,000. Voisard Asset Management Group Inc. bought a new stake in EVgo in the fourth quarter worth $29,000. Wellington Management Group LLP increased its position in EVgo by 34.9% in the fourth quarter. Wellington Management Group LLP now owns 3,675,314 shares of the company’s stock worth $13,158,000 after purchasing an additional 951,272 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in EVgo during the first quarter valued at $71,000. 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.
Featured Stories
- Five stocks we like better than EVgo
- Consumer Discretionary Stocks Explained
- Biotech Boom Ahead? Key Stocks and ETFs to Watch Now
- What is the Dow Jones Industrial Average (DJIA)?
- Why eBay Stock Is the Steady Performer You Can’t Ignore
- Investing in the High PE Growth Stocks
- 2 Sectors Investors Should Buy Now That Rate Cuts Are In
Receive News & Ratings for EVgo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EVgo and related companies with MarketBeat.com's FREE daily email newsletter.