EVgo Inc. (NASDAQ:EVGO) Receives $3.65 Consensus Price Target from Brokerages

EVgo Inc. (NASDAQ:EVGO) has been given a consensus recommendation of “Hold” by the nine brokerages that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $3.4857.

Several analysts have issued reports on EVGO shares. Royal Bank Of Canada cut their price objective on EVgo from $3.00 to $2.50 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Morgan Stanley set a $2.50 target price on shares of EVgo in a research report on Thursday, August 6th. Evercore restated an “outperform” rating and set a $2.50 price target on shares of EVgo in a report on Monday. Roth Capital set a $2.00 price target on shares of EVgo in a research report on Monday, August 10th. Finally, Cantor Fitzgerald decreased their price objective on shares of EVgo from $4.00 to $3.00 and set an “overweight” rating for the company in a research note on Thursday, August 6th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp boosted its position in EVgo by 1.3% during the 2nd quarter. State Street Corp now owns 6,371,895 shares of the company’s stock worth $12,170,000 after acquiring an additional 80,946 shares during the period. SIR Capital Management L.P. increased its holdings in shares of EVgo by 5.7% in the 4th quarter. SIR Capital Management L.P. now owns 4,345,531 shares of the company’s stock valued at $12,645,000 after purchasing an additional 234,500 shares during the period. Pictet Asset Management Holding SA increased its holdings in shares of EVgo by 6.8% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,428,561 shares of the company’s stock valued at $4,177,000 after purchasing an additional 155,361 shares during the period. Renaissance Technologies LLC lifted its position in shares of EVgo by 31.8% in the first quarter. Renaissance Technologies LLC now owns 1,192,933 shares of the company’s stock worth $2,052,000 after purchasing an additional 288,100 shares in the last quarter. Finally, UBS Group AG boosted its holdings in shares of EVgo by 83.6% during the fourth quarter. UBS Group AG now owns 1,043,689 shares of the company’s stock worth $3,037,000 after purchasing an additional 475,092 shares during the period. Hedge funds and other institutional investors own 17.44% of the company’s stock.

EVgo Stock Performance

EVGO opened at $1.47 on Friday. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 5.39. The firm has a market cap of $462.34 million, a PE ratio of -3.67 and a beta of 2.84. The business has a fifty day simple moving average of $1.52 and a 200-day simple moving average of $1.82. EVgo has a fifty-two week low of $1.23 and a fifty-two week high of $5.18.

EVgo (NASDAQ:EVGO) last announced its earnings results on Wednesday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.03. The company had revenue of $82.65 million for the quarter. During the same quarter in the previous year, the business earned ($0.10) earnings per share. The firm’s revenue for the quarter was down 15.7% compared to the same quarter last year. As a group, equities analysts predict that EVgo will post -0.51 EPS for the current fiscal year.

EVgo Company Profile

EVgo, Inc operates a public electric vehicle (EV) fast-charging network in the United States. The company develops, owns, and operates charging stations designed primarily for drivers who need to recharge away from home, including at retail centers, grocery stores, parking facilities, and other convenient locations.

EVgo provides charging services through its mobile app and website, which allow customers to locate stations, start charging sessions, and manage payments. The company also offers charging memberships, fleet and rideshare charging solutions, and charging software and services for commercial partners.