EVgo (NYSE:EVGO) Stock Rating Upgraded by Marathon Capitl

Marathon Capitl upgraded shares of EVgo (NYSE:EVGO) from a hold rating to a strong-buy rating in a research note released on Tuesday, Zacks.com reports.

A number of other research analysts also recently weighed in on the company. Capital One Financial upgraded EVgo to a “strong-buy” rating in a report on Monday, September 16th. UBS Group upgraded EVgo from a “neutral” rating to a “buy” rating and upped their target price for the stock from $4.00 to $8.50 in a report on Thursday, October 10th. Stifel Nicolaus reduced 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. TD Cowen upgraded EVgo from a “hold” rating to a “buy” rating and upped their price target for the stock from $5.00 to $7.00 in a research note on Thursday, October 3rd. Finally, Needham & Company LLC restated a “hold” rating on shares of EVgo in a research note on Thursday, August 29th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $6.17.

EVgo Price Performance

Shares of NYSE:EVGO opened at $8.81 on Tuesday. EVgo has a 1 year low of $1.65 and a 1 year high of $9.07. The company has a market cap of $2.66 billion, a PE ratio of -23.18 and a beta of 2.58. The stock’s 50-day moving average is $5.36 and its 200 day moving average is $3.54.

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 analysts’ consensus estimates of ($0.11) by $0.01. The business had revenue of $66.62 million for the quarter, compared to analysts’ expectations of $59.40 million. During the same quarter in the prior year, the firm earned ($0.08) EPS. The firm’s revenue for the quarter was up 31.8% on a year-over-year basis. Analysts expect that EVgo will post -0.4 EPS for the current fiscal year.

Insider Activity at EVgo

In related 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 transaction, the president now directly owns 47,614 shares of the company’s stock, valued at approximately $171,410.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Francine Sullivan sold 12,584 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 transaction of $45,302.40. Following the transaction, the insider now directly owns 117,327 shares of the company’s stock, valued at $422,377.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction, the president now directly owns 47,614 shares in the company, valued at $171,410.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 66.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EVgo

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in EVgo by 34.9% in the 4th 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 period. Mirae Asset Global Investments Co. Ltd. bought a new position in EVgo in the 1st quarter worth $71,000. SG Americas Securities LLC bought a new position in EVgo in the 1st quarter worth $41,000. Bleakley Financial Group LLC bought a new position in EVgo in the 1st quarter worth $36,000. Finally, Vanguard Group Inc. raised 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 worth $24,344,000 after purchasing an additional 37,168 shares during the period. 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.