Cantor Fitzgerald Forecasts EVgo FY2025 Earnings

EVgo, Inc. (NYSE:EVGO - Free Report) - Cantor Fitzgerald issued their FY2025 earnings per share estimates for shares of EVgo in a research note issued to investors on Tuesday, January 21st. Cantor Fitzgerald analyst A. Sheppard expects that the company will post earnings of ($0.53) per share for the year. Cantor Fitzgerald currently has a "Overweight" rating and a $5.00 price objective on the stock. The consensus estimate for EVgo's current full-year earnings is ($0.45) per share.

EVgo (NYSE:EVGO - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The company had revenue of $67.50 million during the quarter, compared to analyst estimates of $66.52 million. EVgo's revenue for the quarter was up 92.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.09) EPS.

Several other research firms also recently issued reports on EVGO. Stifel Nicolaus boosted their price target on EVgo from $6.00 to $10.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Needham & Company LLC reaffirmed a "hold" rating on shares of EVgo in a report on Thursday, January 16th. Marathon Capitl raised EVgo from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 22nd. TD Cowen raised EVgo from a "hold" rating to a "buy" rating and lifted their price objective for the company from $5.00 to $7.00 in a report on Thursday, October 3rd. Finally, Royal Bank of Canada lifted their price objective on EVgo from $4.00 to $8.00 and gave the company an "outperform" rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $6.61.

EVgo Price Performance

EVGO traded up $0.07 during trading on Wednesday, hitting $3.17. The stock had a trading volume of 5,304,047 shares, compared to its average volume of 5,719,157. The company has a 50 day moving average price of $5.00 and a 200-day moving average price of $5.01. The firm has a market cap of $960.99 million, a price-to-earnings ratio of -7.55 and a beta of 2.35. EVgo has a one year low of $1.65 and a one year high of $9.07.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Point72 DIFC Ltd acquired a new position in EVgo during the second quarter valued at $45,000. International Assets Investment Management LLC purchased a new position in shares of EVgo during the 3rd quarter worth approximately $51,000. Creative Planning lifted its holdings in EVgo by 32.7% during the 3rd quarter. Creative Planning now owns 13,365 shares of the company's stock worth $55,000 after buying an additional 3,297 shares in the last quarter. Legacy Capital Wealth Partners LLC raised its holdings in shares of EVgo by 31.8% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 14,500 shares of the company's stock valued at $60,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Clear Harbor Asset Management LLC acquired a new stake in shares of EVgo in the 4th quarter valued at $72,000. Hedge funds and other institutional investors own 17.44% of the company's stock.

Insider Activity at EVgo

In related news, CEO Badar Khan sold 166,725 shares of the business's stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $5.14, for a total value of $856,966.50. Following the completion of the transaction, the chief executive officer now directly owns 348,761 shares in the company, valued at $1,792,631.54. The trade was a 32.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Nanus sold 23,000,000 shares of the business's stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $5.00, for a total transaction of $115,000,000.00. Following the sale, the director now owns 5,882,352 shares of the company's stock, valued at approximately $29,411,760. This represents a 79.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,184,104 shares of company stock valued at $115,932,044. Company insiders own 66.96% 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.