EVgo (NYSE:EVGO) Upgraded to Strong-Buy by Marathon Capitl

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

Several other brokerages have also weighed in on EVGO. UBS Group upgraded EVgo from a “neutral” rating to a “buy” rating and lifted their price target for the company from $4.00 to $8.50 in a research note on Thursday, October 10th. JPMorgan Chase & Co. upgraded EVgo from a “neutral” rating to an “overweight” rating and set a $7.00 price objective for the company in a research note on Thursday, October 3rd. Benchmark boosted their price objective on EVgo from $3.00 to $5.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Cantor Fitzgerald restated an “overweight” rating and issued a $5.00 price target on shares of EVgo in a research report on Monday, September 30th. Finally, Capital One Financial upgraded EVgo to a “strong-buy” rating in a research report on Monday, September 16th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $6.17.

EVgo Stock Up 2.1 %

Shares of EVGO stock opened at $8.26 on Tuesday. The stock has a market cap of $2.49 billion, a PE ratio of -21.74 and a beta of 2.58. The business has a 50-day simple moving average of $4.98 and a 200-day simple moving average of $3.38. EVgo has a 52-week low of $1.65 and a 52-week high of $8.80.

EVgo (NYSE:EVGO) last announced its quarterly earnings results 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 business had revenue of $66.62 million during the quarter, compared to analysts’ expectations of $59.40 million. During the same quarter in the prior year, the firm earned ($0.08) EPS. EVgo’s revenue for the quarter was up 31.8% on a year-over-year basis. Sell-side analysts anticipate that EVgo will post -0.4 earnings per share for the current fiscal year.

Insider Activity at EVgo

In other EVgo 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 transaction, the president now directly owns 47,614 shares in the company, valued at $171,410.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other EVgo 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 transaction, the president now directly owns 47,614 shares in the company, valued at $171,410.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Francine Sullivan sold 12,584 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 value of $45,302.40. Following the transaction, the insider now owns 117,327 shares in the company, valued at $422,377.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 66.96% of the stock is currently owned by insiders.

Institutional Trading of EVgo

Large investors have recently modified their holdings of the stock. Marshall Wace LLP increased its position in shares of EVgo by 66.4% during the second quarter. Marshall Wace LLP now owns 1,633,304 shares of the company’s stock worth $4,002,000 after acquiring an additional 651,475 shares during the period. Vanguard Group Inc. increased its position in shares of EVgo by 0.4% during the first quarter. Vanguard Group Inc. now owns 9,698,722 shares of the company’s stock worth $24,344,000 after acquiring an additional 37,168 shares during the period. Wellington Management Group LLP increased its position in shares of EVgo by 34.9% during the fourth quarter. Wellington Management Group LLP now owns 3,675,314 shares of the company’s stock worth $13,158,000 after acquiring an additional 951,272 shares during the period. Bleakley Financial Group LLC purchased a new position in EVgo in the first quarter valued at $36,000. Finally, Tidal Investments LLC increased its holdings in EVgo by 32.2% in the first quarter. Tidal Investments LLC now owns 317,945 shares of the company’s stock valued at $798,000 after buying an additional 77,354 shares during the last quarter. Hedge funds and other institutional investors own 17.44% of the company’s stock.

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.