FY2025 EPS Estimates for EVgo Boosted by Cantor Fitzgerald

EVgo, Inc. (NASDAQ:EVGO - Free Report) - Research analysts at Cantor Fitzgerald upped their FY2025 earnings estimates for shares of EVgo in a report issued on Wednesday, March 5th. Cantor Fitzgerald analyst A. Sheppard now anticipates that the company will post earnings per share of ($0.33) for the year, up from their prior forecast of ($0.53). Cantor Fitzgerald currently has a "Overweight" rating and a $8.00 target price on the stock. The consensus estimate for EVgo's current full-year earnings is ($0.45) per share.

EVgo (NASDAQ:EVGO - Get Free Report) last posted its earnings results on Tuesday, March 4th. The company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates of ($0.15) by $0.04. The business had revenue of $67.51 million during the quarter, compared to analysts' expectations of $69.49 million.

EVGO has been the topic of a number of other reports. JPMorgan Chase & Co. reduced their price target on shares of EVgo from $7.00 to $6.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 19th. Needham & Company LLC reissued a "hold" rating on shares of EVgo in a research report on Wednesday, March 5th. UBS Group lowered their price target on EVgo from $8.00 to $5.00 and set a "buy" rating for the company in a research report on Monday, January 27th. Finally, Stifel Nicolaus dropped their price objective on EVgo from $10.00 to $8.00 and set a "buy" rating for the company in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $6.22.

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EVgo Trading Down 5.4 %

EVGO traded down $0.14 on Friday, hitting $2.44. The company had a trading volume of 5,484,951 shares, compared to its average volume of 4,610,885. The firm has a market cap of $739.69 million, a P/E ratio of -5.81 and a beta of 2.37. The company's fifty day moving average price is $3.29 and its 200 day moving average price is $4.88. EVgo has a 1 year low of $1.65 and a 1 year high of $9.07.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in EVgo by 20.1% in the fourth quarter. Vanguard Group Inc. now owns 12,200,949 shares of the company's stock valued at $49,414,000 after acquiring an additional 2,043,449 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of EVgo by 175.5% in 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. Millennium Management LLC boosted its position in shares of EVgo by 394.4% in 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 period. State Street Corp grew its stake in EVgo by 25.3% during the 3rd quarter. State Street Corp now owns 4,192,828 shares of the company's stock worth $17,358,000 after buying an additional 847,777 shares during the last quarter. Finally, SIR Capital Management L.P. increased its position in EVgo by 326.3% during the fourth quarter. SIR Capital Management L.P. now owns 3,533,645 shares of the company's stock worth $14,311,000 after buying an additional 2,704,662 shares during the period. 17.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director David Nanus sold 23,000,000 shares of the firm's stock in a transaction dated Wednesday, December 18th. The stock was 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 trade represents a 79.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Dennis G. Kish sold 44,184 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $3.41, for a total value of $150,667.44. Following the completion of the transaction, the president now directly owns 95,986 shares of the company's stock, valued at $327,312.26. This trade represents a 31.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,061,563 shares of company stock worth $115,225,745. 66.96% of the stock is currently owned by company insiders.

EVgo Company Profile

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.