EVgo (NYSE:EVGO) Stock Rating Reaffirmed by Cantor Fitzgerald

EVgo (NYSE:EVGO - Get Free Report)'s stock had its "overweight" rating reaffirmed by equities researchers at Cantor Fitzgerald in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $5.00 price objective on the stock. Cantor Fitzgerald's price target would suggest a potential upside of 20.05% from the company's previous close.

Several other research analysts have also recently commented on EVGO. Evercore ISI reduced their price target on EVgo from $8.00 to $7.00 and set an "outperform" rating for the company in a research report on Monday, May 13th. Stifel Nicolaus decreased their target price on shares of EVgo from $7.00 to $6.00 and set a "buy" rating for the company in a research note on Tuesday, August 6th. Citigroup cut their price target on shares of EVgo from $3.00 to $2.00 and set a "neutral" rating for the company in a research note on Thursday, May 9th. Benchmark upped their target price on shares of EVgo from $3.00 to $5.00 and gave the company a "buy" rating in a report on Friday, July 12th. Finally, UBS Group began coverage on shares of EVgo in a research note on Monday, July 22nd. They issued a "neutral" rating and a $4.00 target price for the company. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $4.63.

EVgo Price Performance

NYSE:EVGO traded down $0.37 during trading hours on Tuesday, reaching $4.17. 2,762,428 shares of the stock were exchanged, compared to its average volume of 3,157,999. The stock has a market cap of $1.26 billion, a PE ratio of -10.84 and a beta of 2.58. EVgo has a twelve month low of $1.65 and a twelve month high of $4.70. The firm has a 50 day moving average of $3.54 and a 200 day moving average of $2.68.

EVgo (NYSE:EVGO - Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.01. The business had revenue of $66.62 million for the quarter, compared to analyst estimates of $59.40 million. During the same quarter in the previous year, the company posted ($0.08) EPS. The business's revenue for the quarter was up 31.8% compared to the same quarter last year. Equities research analysts anticipate that EVgo will post -0.4 earnings per share for the current year.

Insider Buying and Selling at EVgo

In other EVgo news, insider Francine Sullivan sold 12,584 shares of EVgo stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $3.60, for a total value of $45,302.40. Following the completion of the sale, the insider now owns 117,327 shares in the company, valued at approximately $422,377.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Dennis G. Kish sold 16,414 shares of the company's stock in a transaction on Monday, August 12th. The stock was sold at an average price of $3.60, for a total transaction of $59,090.40. Following the completion of the sale, the president now directly owns 47,614 shares in the company, valued at approximately $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 the firm's stock in a transaction on Monday, August 12th. The stock was sold at an average price of $3.60, for a total value of $45,302.40. Following the completion of the transaction, the insider now owns 117,327 shares in the company, valued at approximately $422,377.20. The disclosure for this sale can be found here. Insiders have sold a total of 31,475 shares of company stock valued at $110,189 in the last ninety days. 66.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On EVgo

Several hedge funds have recently bought and sold shares of EVGO. Price T Rowe Associates Inc. MD lifted its holdings in shares of EVgo by 11.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 63,392 shares of the company's stock worth $160,000 after acquiring an additional 6,633 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of EVgo by 47.0% during the second quarter. SG Americas Securities LLC now owns 24,049 shares of the company's stock worth $59,000 after buying an additional 7,687 shares during the last quarter. Voisard Asset Management Group Inc. acquired a new position in shares of EVgo during the fourth quarter worth $29,000. Atria Wealth Solutions Inc. lifted its stake in shares of EVgo by 2.8% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 330,871 shares of the company's stock valued at $811,000 after acquiring an additional 8,940 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC acquired a new stake in shares of EVgo during the 2nd quarter valued at $27,000. 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.