Cantor Fitzgerald reaffirmed their overweight rating on shares of EVgo (NASDAQ:EVGO - Free Report) in a research note issued to investors on Wednesday,Benzinga reports. Cantor Fitzgerald currently has a $8.00 price objective on the stock. Cantor Fitzgerald also issued estimates for EVgo's FY2025 earnings at ($0.33) EPS.
A number of other brokerages also recently commented on EVGO. Needham & Company LLC reaffirmed a "hold" rating on shares of EVgo in a research report on Wednesday. UBS Group decreased their target price on shares of EVgo from $8.00 to $5.00 and set a "buy" rating for the company in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. decreased their target price on shares of EVgo from $7.00 to $6.00 and set an "overweight" rating for the company in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, EVgo currently has an average rating of "Buy" and a consensus price target of $6.22.
Read Our Latest Report on EVGO
EVgo Price Performance
EVGO traded up $0.07 on Wednesday, reaching $2.58. 3,600,973 shares of the company traded hands, compared to its average volume of 4,591,248. The stock's 50 day moving average price is $3.33 and its 200-day moving average price is $4.88. EVgo has a 52-week low of $1.65 and a 52-week high of $9.07. The company has a market cap of $782.13 million, a price-to-earnings ratio of -6.14 and a beta of 2.37.
EVgo (NASDAQ:EVGO - Get Free Report) last announced its quarterly earnings data on Tuesday, March 4th. The company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates of ($0.15) by $0.04. The company had revenue of $67.51 million for the quarter, compared to analysts' expectations of $69.49 million. As a group, equities research analysts forecast that EVgo will post -0.45 earnings per share for the current fiscal year.
Insider Transactions at EVgo
In related news, Director David Nanus sold 23,000,000 shares of the company'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 completion of the transaction, the director now directly owns 5,882,352 shares in the company, valued at $29,411,760. This represents a 79.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Dennis G. Kish sold 17,379 shares of the company's stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $4.32, for a total transaction of $75,077.28. Following the transaction, the president now owns 13,655 shares of the company's stock, valued at approximately $58,989.60. The trade was a 56.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,061,563 shares of company stock worth $115,225,745. 66.96% of the stock is owned by insiders.
Hedge Funds Weigh In On EVgo
Several large investors have recently bought and sold shares of EVGO. Millennium Management LLC raised its stake in EVgo by 394.4% during the 4th quarter. Millennium Management LLC now owns 4,623,922 shares of the company's stock valued at $18,727,000 after purchasing an additional 3,688,614 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in EVgo by 175.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 4,949,622 shares of the company's stock valued at $20,046,000 after purchasing an additional 3,153,073 shares during the last quarter. SIR Capital Management L.P. raised its stake in EVgo by 326.3% during the 4th quarter. SIR Capital Management L.P. now owns 3,533,645 shares of the company's stock valued at $14,311,000 after purchasing an additional 2,704,662 shares during the last quarter. Two Sigma Advisers LP raised its stake in EVgo by 2,533.6% during the 4th quarter. Two Sigma Advisers LP now owns 2,494,000 shares of the company's stock valued at $10,101,000 after purchasing an additional 2,399,300 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in EVgo by 20.1% during the 4th quarter. Vanguard Group Inc. now owns 12,200,949 shares of the company's stock valued at $49,414,000 after purchasing an additional 2,043,449 shares during the last quarter. 17.44% of the stock is currently owned by institutional investors and hedge funds.
EVgo Company Profile
(
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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.
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