EVgo (NYSE:EVGO) Stock Rating Upgraded by Marathon Capitl

Marathon Capitl upgraded shares of EVgo (NYSE:EVGO) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday, Zacks.com reports.

Other equities analysts have also issued reports about the stock. Capital One Financial upgraded shares of EVgo to a “strong-buy” rating in a research report on Monday, September 16th. Royal Bank of Canada raised their target price on shares of EVgo from $4.00 to $8.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. TD Cowen upgraded shares of EVgo from a “hold” rating to a “buy” rating and raised their target price for the stock from $5.00 to $7.00 in a research report on Thursday, October 3rd. UBS Group upgraded shares of EVgo from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $4.00 to $8.50 in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. upgraded shares of EVgo from a “neutral” rating to an “overweight” rating and set a $7.00 price objective on the stock in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $6.17.

EVgo Price Performance

NYSE:EVGO opened at $8.26 on Tuesday. The business’s fifty day moving average price is $4.98 and its 200 day moving average price is $3.38. EVgo has a 12 month low of $1.65 and a 12 month high of $8.80. The firm has a market capitalization of $2.49 billion, a PE ratio of -21.74 and a beta of 2.58.

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

Insider Transactions at EVgo

In other news, President Dennis G. Kish sold 16,414 shares of EVgo 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 transaction, the president now owns 47,614 shares of the company’s stock, valued at $171,410.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Francine Sullivan sold 12,584 shares of the business’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 transaction, the insider now owns 117,327 shares of the company’s stock, valued at approximately $422,377.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Dennis G. Kish sold 16,414 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $3.60, for a total transaction of $59,090.40. Following the completion of the transaction, the president now directly owns 47,614 shares of the company’s stock, valued at $171,410.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 66.96% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Creative Planning raised its stake in EVgo by 32.7% in the 3rd quarter. Creative Planning now owns 13,365 shares of the company’s stock valued at $55,000 after purchasing an additional 3,297 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in EVgo by 11.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 63,392 shares of the company’s stock valued at $160,000 after purchasing an additional 6,633 shares during the last quarter. SG Americas Securities LLC raised its stake in EVgo by 47.0% in the 2nd quarter. SG Americas Securities LLC now owns 24,049 shares of the company’s stock valued at $59,000 after purchasing an additional 7,687 shares during the last quarter. Atria Wealth Solutions Inc. raised its stake in 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 purchasing an additional 8,940 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC acquired a new position in EVgo in the 2nd quarter valued at about $27,000. Institutional investors and hedge funds 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.