FY2025 EPS Estimates for EVgo Increased by Cantor Fitzgerald

EVgo, Inc. (NASDAQ:EVGO) – Equities research analysts at Cantor Fitzgerald increased their FY2025 earnings per share (EPS) estimates for shares of EVgo in a report issued on Wednesday, March 5th. Cantor Fitzgerald analyst A. Sheppard now anticipates that the company will earn ($0.33) per share for the year, up from their previous forecast of ($0.53). Cantor Fitzgerald currently has a “Overweight” rating and a $8.00 price target on the stock. The consensus estimate for EVgo’s current full-year earnings is ($0.45) per share.

EVGO has been the topic of several other research reports. JPMorgan Chase & Co. cut their price target on EVgo from $7.00 to $6.00 and set an “overweight” rating on the stock in a report on Wednesday, February 19th. UBS Group dropped their target price on EVgo from $8.00 to $5.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Stifel Nicolaus dropped their target price on EVgo from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $6.22.

EVgo Price Performance

Shares of EVgo stock opened at $2.51 on Friday. EVgo has a one year low of $1.65 and a one year high of $9.07. The stock’s 50-day moving average is $3.36 and its 200 day moving average is $4.88. The firm has a market cap of $760.91 million, a price-to-earnings ratio of -5.98 and a beta of 2.32.

EVgo (NASDAQ:EVGO) last issued its quarterly earnings results on Tuesday, March 4th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.04. The company had revenue of $67.51 million during the quarter, compared to analyst estimates of $69.49 million.

Insider Activity

In other news, Director David Nanus sold 23,000,000 shares of EVgo stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $5.00, for a total value of $115,000,000.00. Following the completion of the transaction, the director now directly owns 5,882,352 shares in the company, valued at approximately $29,411,760. The trade was a 79.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Dennis G. Kish sold 17,379 shares of EVgo stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $4.32, for a total value of $75,077.28. Following the completion of the transaction, the president now owns 13,655 shares of the company’s stock, valued at approximately $58,989.60. This trade represents a 56.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,061,563 shares of company stock worth $115,225,745. 66.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On EVgo

Large investors have recently added to or reduced their stakes in the business. State Street Corp boosted its stake in EVgo by 25.3% during the third quarter. State Street Corp now owns 4,192,828 shares of the company’s stock valued at $17,358,000 after buying an additional 847,777 shares during the period. Geode Capital Management LLC boosted its stake in EVgo by 3.9% during the third quarter. Geode Capital Management LLC now owns 2,419,863 shares of the company’s stock valued at $10,020,000 after buying an additional 90,887 shares during the period. Hussman Strategic Advisors Inc. bought a new stake in EVgo during the fourth quarter worth about $425,000. International Assets Investment Management LLC bought a new stake in EVgo during the third quarter worth about $51,000. Finally, Verition Fund Management LLC bought a new stake in EVgo during the third quarter worth about $653,000. 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.