EVgo (NYSE:EVGO – Get a rating) has been updated by equity research analysts from Capital One Financial from an “equal weight” rating to an “overweight” rating in a report released Wednesday, Briefing.com reports. Capital One Financial also released estimates of EVgo’s fiscal year 2022 earnings at ($0.47) EPS and fiscal year 2023 earnings at ($0.29) EPS.
A number of other stock analysts also commented on EVGO. Citigroup reduced its price target on EVgo from $11.00 to $10.00 in a Monday, May 16 research note. Zacks Investment Research upgraded EVgo from a “sell” rating to a “hold” rating in a report on Monday. Tudor, Pickering, Holt & Co. launched coverage on EVgo in a Thursday, April 21 report. They set a “buy” rating and a price target of $16.00 for the company. Tudor Pickering began covering EVgo in a report on Thursday, April 21. They set a “buy” rating and a price target of $16.00 for the company. Finally, Cantor Fitzgerald began covering EVgo in a research report on Thursday, April 28. They set an “overweight” rating and a price target of $14.00 on the stock. One investment analyst gave the stock a sell rating, four gave the company a hold rating and eight gave the company a buy rating. According to data from MarketBeat, EVgo currently has an average rating of “Buy” and a consensus target price of $15.00.
NYSEEVGO opened at $9.26 on Wednesday. EVgo has a 12-month minimum of $6.90 and a 12-month maximum of $19.59. The stock has a 50-day moving average of $10.21 and a 200-day moving average of $10.37.
EVgo (NYSE:EVGO – Get a rating) last released its quarterly earnings data on Wednesday, March 23. The company reported earnings per share of $0.06 for the quarter, beating the consensus estimate of ($0.07) by $0.13. The company posted revenue of $7.12 million for the quarter, versus a consensus estimate of $5.90 million. On average, sell-side analysts expect EVgo to post -0.72 earnings per share for the current year.
Hedge funds and other institutional investors have recently increased or reduced their stakes in the company. CI Investments Inc. bought a new position in EVgo stock in Q1 worth approximately $46,425,000. Invesco Ltd. bought a new position in EVgo stock in Q3 valued at around $28,720,000. Vanguard Group Inc. increased its stake in EVgo shares by 121.6% in Q1. Vanguard Group Inc. now owns 5,882,535 shares of the company valued at $75,649,000 after purchasing an additional 3,228,340 shares during the period. Allianz Asset Management GmbH bought a new position in EVgo during Q1 worth approximately $32,188,000. Finally, Banque Pictet & Cie SA bought a new position in EVgo during the 4th quarter for a value of approximately $25,123,000. Institutional investors and hedge funds hold 9.91% of the company’s shares.
About EVgo (Get a rating)
EVgo, Inc owns and operates a DC fast charging network in the United States. The company offers electricity directly to drivers, who access its publicly accessible network chargers; recharging of original equipment manufacturers and related services; public fleet charging and carpooling services; and charging as a service and dedicated fleet charging services.
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