EVgo (NYSE:EVGO) Stock Rating Upgraded by JPMorgan Chase & Co.

by · The Markets Daily

JPMorgan Chase & Co. upgraded shares of EVgo (NYSE:EVGO – Free Report) from a neutral rating to an overweight rating in a report released on Thursday morning, MarketBeat.com reports. They currently have $7.00 target price on the stock.

A number of other brokerages have also commented on EVGO. Benchmark upped their price objective on EVgo from $3.00 to $5.00 and gave the company a buy rating in a report on Friday, July 12th. Cantor Fitzgerald restated an overweight rating and issued a $5.00 price target on shares of EVgo in a research note on Monday, September 30th. Needham & Company LLC reaffirmed a hold rating on shares of EVgo in a research report on Thursday, August 29th. Stifel Nicolaus cut their price objective on shares of EVgo from $7.00 to $6.00 and set a buy rating for the company in a report on Tuesday, August 6th. Finally, Capital One Financial upgraded shares of EVgo to a strong-buy rating in a research report on Monday, September 16th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $5.22.

Read Our Latest Report on EVGO

EVgo Stock Performance

NYSE EVGO opened at $7.20 on Thursday. The stock has a market cap of $2.17 billion, a PE ratio of -18.95 and a beta of 2.58. The firm has a 50-day moving average of $4.13 and a 200-day moving average of $2.98. EVgo has a 52-week low of $1.65 and a 52-week high of $7.69.

EVgo (NYSE:EVGO – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter last year, the business earned ($0.08) earnings per share. The company’s revenue was up 31.8% on a year-over-year basis. As a group, analysts predict that EVgo will post -0.4 EPS for the current fiscal year.

Insider Activity at EVgo

In other EVgo news, 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 transaction of $45,302.40. Following the completion of the sale, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Francine Sullivan sold 12,584 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $3.60, for a total value 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Dennis G. Kish sold 16,414 shares of EVgo stock in a transaction that occurred on Monday, August 12th. The shares were 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 in the company, valued at $171,410.40. 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 Investors Weigh In On EVgo

Hedge funds have recently modified their holdings of the company. Legacy Capital Wealth Partners LLC acquired a new stake in EVgo during the 2nd quarter worth approximately $27,000. Voisard Asset Management Group Inc. bought a new position in shares of EVgo during the fourth quarter valued at $29,000. Bleakley Financial Group LLC acquired a new position in shares of EVgo during the first quarter worth $36,000. SG Americas Securities LLC bought a new stake in shares of EVgo in the first quarter worth $41,000. Finally, Point72 DIFC Ltd acquired a new stake in EVgo in the second quarter valued at $45,000. Institutional investors and hedge funds own 17.44% of the company’s stock.

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.

Recommended Stories