Cantor Fitzgerald Cuts EVgo (NASDAQ:EVGO) Price Target to $6.00

EVgo (NASDAQ:EVGO) had its target price lowered by Cantor Fitzgerald from $7.00 to $6.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

EVGO has been the subject of several other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of EVgo in a research note on Thursday, January 22nd. Benchmark reaffirmed a “buy” rating on shares of EVgo in a research note on Monday. Stifel Nicolaus lowered their price target on shares of EVgo from $8.00 to $7.50 and set a “buy” rating for the company in a report on Tuesday, November 25th. Finally, UBS Group upped their price objective on shares of EVgo from $5.40 to $5.90 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.27.

EVgo Stock Performance

EVgo stock opened at $2.21 on Wednesday. EVgo has a fifty-two week low of $2.13 and a fifty-two week high of $5.18. The company has a market capitalization of $680.64 million, a price-to-earnings ratio of -6.91 and a beta of 2.63. The stock has a fifty day moving average of $2.95 and a two-hundred day moving average of $3.52.

EVgo (NASDAQ:EVGO) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.10. The company had revenue of $118.47 million during the quarter. The firm’s quarterly revenue was up 75.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.11) EPS. On average, analysts forecast that EVgo will post -0.45 EPS for the current fiscal year.

Institutional Trading of EVgo

A number of hedge funds have recently added to or reduced their stakes in the business. Quarry LP increased its stake in shares of EVgo by 145.0% during the 4th quarter. Quarry LP now owns 9,307 shares of the company’s stock valued at $27,000 after acquiring an additional 5,508 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of EVgo in the fourth quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd boosted its position in shares of EVgo by 4,903.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 9,856 shares of the company’s stock worth $29,000 after acquiring an additional 9,659 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in EVgo in the fourth quarter valued at approximately $32,000. Finally, Fullerton Advisors LLC acquired a new position in EVgo during the fourth quarter worth approximately $36,000. 17.44% of the stock is owned by institutional investors and hedge funds.

EVgo Company Profile

EVgo operates one of the largest public electric vehicle (EV) fast-charging networks in the United States, delivering direct current (DC) fast charging and Level 2 charging services to passenger vehicles and commercial fleets. The company’s charging stations are strategically located in urban centers, suburban shopping areas, workplace parking facilities, and along major highway corridors, enabling convenient access for EV drivers and promoting long-distance travel.

The company offers a suite of charging solutions, including subscription plans, pay-per-use options, and fleet charging services tailored to the needs of ride-hailing, delivery, and corporate vehicle fleets.