Marathon Capitl upgraded shares of EVgo (NYSE:EVGO – Free Report) from a hold rating to a strong-buy rating in a research report report published on Tuesday, Zacks.com reports.
A number of other equities research analysts have also issued reports on EVGO. Capital One Financial upgraded EVgo to a “strong-buy” rating in a research note on Monday, September 16th. Stifel Nicolaus cut their price target on EVgo from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Needham & Company LLC restated a “hold” rating on shares of EVgo in a research report on Thursday, August 29th. UBS Group upgraded EVgo from a “neutral” rating to a “buy” rating and raised their price objective for the company from $4.00 to $8.50 in a research report on Thursday, October 10th. Finally, TD Cowen upgraded EVgo from a “hold” rating to a “buy” rating and raised their price objective for the company from $5.00 to $7.00 in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $6.17.
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EVgo Stock Performance
EVgo (NYSE:EVGO – Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. The business had revenue of $66.62 million during the quarter, compared to analysts’ expectations of $59.40 million. During the same quarter in the previous year, the company posted ($0.08) EPS. The company’s quarterly revenue was up 31.8% on a year-over-year basis. On average, sell-side analysts forecast 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 stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $3.60, for a total value of $59,090.40. Following the completion of the transaction, the president now owns 47,614 shares of the company’s stock, valued at approximately $171,410.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other EVgo news, insider Francine Sullivan sold 12,584 shares of the firm’s 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 of the company’s stock, valued at $422,377.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Dennis G. Kish sold 16,414 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $171,410.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 66.96% of the stock is owned by insiders.
Institutional Trading of EVgo
Institutional investors have recently added to or reduced their stakes in the company. Legacy Capital Wealth Partners LLC bought a new stake in shares of EVgo during the second quarter valued at approximately $27,000. Bleakley Financial Group LLC bought a new stake in shares of EVgo during the first quarter valued at approximately $36,000. SG Americas Securities LLC bought a new stake in shares of EVgo during the first quarter valued at approximately $41,000. Point72 DIFC Ltd bought a new stake in shares of EVgo during the second quarter valued at approximately $45,000. Finally, International Assets Investment Management LLC bought a new stake in shares of EVgo during the third quarter valued at approximately $51,000. Institutional investors own 17.44% of the company’s stock.
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.
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