FY2025 EPS Estimates for EVgo Boosted by Cantor Fitzgerald

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

EVgo (NASDAQ:EVGO) last announced its earnings results on Tuesday, March 4th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.04. The business had revenue of $67.51 million for the quarter, compared to analysts’ expectations of $69.49 million.

Several other research firms also recently commented on EVGO. JPMorgan Chase & Co. reduced their price objective on EVgo from $7.00 to $6.00 and set an “overweight” rating for the company in a research note on Wednesday, February 19th. UBS Group reduced their price objective on EVgo from $8.00 to $5.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Stifel Nicolaus reduced their price objective on EVgo from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Needham & Company LLC reissued a “hold” rating on shares of EVgo in a research note on Wednesday. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $6.22.

EVgo Price Performance

Shares of NASDAQ:EVGO opened at $2.58 on Friday. EVgo has a 1 year low of $1.65 and a 1 year high of $9.07. The firm has a market capitalization of $782.13 million, a price-to-earnings ratio of -6.14 and a beta of 2.37. The business’s 50 day moving average price is $3.36 and its 200-day moving average price is $4.88.

Insiders Place Their Bets

In related news, President Dennis G. Kish sold 44,184 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $3.41, for a total transaction of $150,667.44. Following the completion of the sale, the president now directly owns 95,986 shares of the company’s stock, valued at approximately $327,312.26. This trade represents a 31.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Nanus sold 23,000,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 5,882,352 shares of the company’s stock, valued at $29,411,760. The trade was a 79.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,061,563 shares of company stock valued at $115,225,745 in the last three months. 66.96% of the stock is currently owned by insiders.

Institutional Trading of EVgo

Hedge funds and other institutional investors have recently modified their holdings of the business. Mariner LLC acquired a new stake in shares of EVgo during the 4th quarter worth about $48,000. International Assets Investment Management LLC purchased a new position in EVgo during the 3rd quarter valued at about $51,000. Creative Planning boosted its holdings in EVgo by 32.7% during the 3rd quarter. Creative Planning now owns 13,365 shares of the company’s stock valued at $55,000 after acquiring an additional 3,297 shares during the period. FORA Capital LLC purchased a new position in EVgo during the 4th quarter valued at about $56,000. Finally, Legacy Capital Wealth Partners LLC boosted its holdings in EVgo by 31.8% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 14,500 shares of the company’s stock valued at $60,000 after acquiring an additional 3,500 shares during the period. 17.44% of the stock is owned by institutional investors and hedge funds.

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.