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

EVgo Inc. (NASDAQ:EVGO) has been assigned an average recommendation of “Moderate Buy” from the ten analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $5.8167.

Several research analysts have recently weighed in on EVGO shares. Weiss Ratings restated a “sell (d-)” rating on shares of EVgo in a research note on Wednesday. UBS Group upped their target price on shares of EVgo from $5.00 to $5.40 and gave the company a “buy” rating in a report on Wednesday, August 20th. Finally, Morgan Stanley upped their target price on shares of EVgo from $4.00 to $4.50 and gave the company an “equal weight” rating in a report on Wednesday, August 6th.

Institutional Investors Weigh In On EVgo

A number of institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC raised its holdings in shares of EVgo by 25.9% in the 1st 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. Soros Fund Management LLC grew its stake in 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 buying an additional 3,851,583 shares during the last quarter. HITE Hedge Asset Management LLC grew its stake in EVgo by 220.0% in the 1st quarter. HITE Hedge Asset Management LLC now owns 3,348,303 shares of the company’s stock valued at $8,906,000 after buying an additional 2,301,886 shares during the last quarter. Geode Capital Management LLC grew its stake 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 buying an additional 313,335 shares during the last quarter. Finally, Invesco Ltd. grew its stake in EVgo by 39.4% in the 1st quarter. Invesco Ltd. now owns 1,826,705 shares of the company’s stock valued at $4,859,000 after buying an additional 516,382 shares during the last quarter. 17.44% of the stock is owned by institutional investors.

EVgo Trading Down 0.8%

Shares of EVGO stock opened at $4.67 on Friday. EVgo has a 1 year low of $2.19 and a 1 year high of $9.07. The firm’s fifty day moving average price is $4.15 and its two-hundred day moving average price is $3.66. The firm has a market capitalization of $1.44 billion, a P/E ratio of -11.39 and a beta of 2.37.

EVgo (NASDAQ:EVGO) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.03. The business had revenue of $98.03 million during the quarter, compared to analyst estimates of $86.15 million. During the same quarter in the previous year, the firm posted ($0.10) earnings per share. The firm’s quarterly revenue was up 47.1% on a year-over-year basis. EVgo has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that EVgo will post -0.45 EPS for the current fiscal year.

EVgo Company Profile

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.