EVgo Inc. (NASDAQ:EVGO) Receives Average Rating of “Moderate Buy” from Analysts

Shares of EVgo Inc. (NASDAQ:EVGO) have earned a consensus recommendation of “Moderate Buy” from the nine brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $5.8167.

A number of equities research analysts have recently commented on the stock. UBS Group increased their target price on shares of EVgo from $5.40 to $5.90 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of EVgo in a research note on Monday, November 17th. Needham & Company LLC reissued a “hold” rating on shares of EVgo in a research note on Tuesday, October 14th. Stifel Nicolaus lowered their target price on EVgo from $8.00 to $7.50 and set a “buy” rating on the stock in a report on Tuesday, November 25th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of EVgo in a research report on Wednesday, October 8th.

Institutional Investors Weigh In On EVgo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EVGO. Soros Fund Management LLC raised its stake in shares of EVgo by 342.2% in the 2nd quarter. Soros Fund Management LLC now owns 4,976,983 shares of the company’s stock valued at $18,166,000 after acquiring an additional 3,851,583 shares during the period. AXQ Capital LP purchased a new position in shares of EVgo during the 2nd quarter worth approximately $382,000. Geode Capital Management LLC increased its holdings in EVgo by 11.1% in the 2nd quarter. Geode Capital Management LLC now owns 3,147,529 shares of the company’s stock valued at $11,490,000 after purchasing an additional 313,335 shares during the last quarter. Rhumbline Advisers increased its holdings in EVgo by 2.5% in the 1st quarter. Rhumbline Advisers now owns 152,281 shares of the company’s stock valued at $405,000 after purchasing an additional 3,740 shares during the last quarter. Finally, Ethic Inc. purchased a new stake in EVgo in the second quarter valued at approximately $38,000. Institutional investors and hedge funds own 17.44% of the company’s stock.

EVgo Price Performance

NASDAQ EVGO opened at $3.07 on Tuesday. The company has a market cap of $945.50 million, a PE ratio of -7.87 and a beta of 2.38. The stock’s 50 day simple moving average is $3.10 and its 200-day simple moving average is $3.69. EVgo has a 1-year low of $2.19 and a 1-year high of $5.18.

EVgo (NASDAQ:EVGO) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.09. The firm had revenue of $92.30 million during the quarter, compared to analyst estimates of $94.42 million. The firm’s revenue for the quarter was up 36.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.11) earnings per share. On average, equities research analysts anticipate that EVgo will post -0.45 EPS for the current fiscal year.

About EVgo

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.