EVgo (NYSE:EVGO) Upgraded by TD Cowen to Buy

by · The Cerbat Gem

TD Cowen upgraded shares of EVgo (NYSE:EVGO – Free Report) from a hold rating to a buy rating in a research report released on Thursday morning, MarketBeat Ratings reports. TD Cowen currently has $7.00 price objective on the stock, up from their previous price objective of $5.00.

Other equities analysts have also issued research reports about the stock. Needham & Company LLC reiterated a hold rating on shares of EVgo in a report on Thursday, August 29th. JPMorgan Chase & Co. upgraded EVgo from a neutral rating to an overweight rating and set a $7.00 target price on the stock in a report on Thursday. Capital One Financial raised EVgo to a strong-buy rating in a research report on Monday, September 16th. UBS Group assumed coverage on EVgo in a report on Monday, July 22nd. They issued a neutral rating and a $4.00 price objective on the stock. Finally, Stifel Nicolaus decreased their target price on EVgo from $7.00 to $6.00 and set a buy rating for the company in a report on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $5.22.

Get Our Latest Research Report on EVGO

EVgo Trading Up 13.9 %

EVgo stock opened at $7.20 on Thursday. The stock has a fifty day moving average price of $4.13 and a 200 day moving average price of $2.97. EVgo has a 52 week low of $1.65 and a 52 week high of $7.69. The firm has a market capitalization of $2.17 billion, a P/E ratio of -18.95 and a beta of 2.58.

EVgo (NYSE:EVGO – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The company had revenue of $66.62 million for the quarter, compared to analyst estimates of $59.40 million. During the same period in the prior year, the company earned ($0.08) EPS. The company’s revenue was up 31.8% compared to the same quarter last year. As a group, equities analysts predict that EVgo will post -0.4 EPS for the current year.

Insider Transactions at EVgo

In related news, insider Francine Sullivan sold 12,584 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 $45,302.40. Following the sale, the insider now directly owns 117,327 shares in the company, valued at approximately $422,377.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, President Dennis G. Kish sold 16,414 shares of EVgo 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Francine Sullivan sold 12,584 shares of EVgo stock in a transaction that occurred 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 sale, the insider now owns 117,327 shares in the company, valued at $422,377.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 66.96% of the company’s stock.

Institutional Trading of EVgo

Several institutional investors have recently added to or reduced their stakes in EVGO. Voisard Asset Management Group Inc. acquired a new stake in EVgo during the fourth quarter valued at approximately $29,000. Legacy Capital Wealth Partners LLC bought a new stake in shares of EVgo in the 2nd quarter valued at approximately $27,000. Bleakley Financial Group LLC acquired a new stake in shares of EVgo during the 1st quarter valued at approximately $36,000. SG Americas Securities LLC acquired a new stake in shares of EVgo during the 1st quarter valued at approximately $41,000. Finally, Point72 DIFC Ltd acquired a new position in EVgo in the second quarter worth $45,000. 17.44% of the stock is owned by institutional investors and hedge funds.

About EVgo

(Get Free Report)

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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