EVgo Inc. (NASDAQ:EVGO) Receives $5.28 Average Target Price from Brokerages

Shares of EVgo Inc. (NASDAQ:EVGO) have earned a consensus rating of “Hold” from the nine brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $5.28.

A number of research analysts have weighed in on EVGO shares. JPMorgan Chase & Co. reissued a “neutral” rating on shares of EVgo in a research note on Wednesday, March 25th. Wall Street Zen lowered EVgo from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 9th. Stifel Nicolaus reduced their price target on EVgo from $7.50 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Royal Bank Of Canada reduced their price target on EVgo from $4.50 to $3.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. Finally, Benchmark reissued a “buy” rating on shares of EVgo in a research note on Monday, March 2nd.

EVgo Price Performance

EVGO stock opened at $2.00 on Friday. EVgo has a 1 year low of $1.64 and a 1 year high of $5.18. The company has a debt-to-equity ratio of 5.39, a quick ratio of 2.07 and a current ratio of 2.07. The stock’s 50 day moving average price is $2.04 and its 200 day moving average price is $2.53. The firm has a market cap of $627.72 million, a P/E ratio of -5.71 and a beta of 2.80.

EVgo (NASDAQ:EVGO) last posted its earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02. The company had revenue of $109.53 million during the quarter. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. The business’s quarterly revenue was up 45.4% compared to the same quarter last year. On average, sell-side analysts expect that EVgo will post -0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EVgo

A number of institutional investors have recently bought and sold shares of EVGO. AQR Capital Management LLC grew its holdings in EVgo by 1,188.1% in the first quarter. AQR Capital Management LLC now owns 494,598 shares of the company’s stock valued at $1,316,000 after purchasing an additional 456,201 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in EVgo by 31.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,339 shares of the company’s stock valued at $222,000 after purchasing an additional 19,883 shares during the period. Millennium Management LLC grew its holdings in EVgo by 25.9% in the first quarter. Millennium Management LLC now owns 5,819,392 shares of the company’s stock valued at $15,480,000 after purchasing an additional 1,195,470 shares during the period. Creative Planning grew its holdings in EVgo by 56.4% in the second quarter. Creative Planning now owns 44,353 shares of the company’s stock valued at $162,000 after purchasing an additional 16,000 shares during the period. Finally, Cetera Investment Advisers grew its holdings in EVgo by 53.0% in the second quarter. Cetera Investment Advisers now owns 43,183 shares of the company’s stock valued at $158,000 after purchasing an additional 14,958 shares during the period. 17.44% of the stock is currently owned by hedge funds and other institutional investors.

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.