EVgo (NASDAQ:EVGO) Releases Earnings Results, Beats Expectations By $0.06 EPS

EVgo (NASDAQ:EVGO) issued its quarterly earnings results on Saturday. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.06, Briefing.com reports. During the same period in the previous year, the business posted ($0.09) EPS. The firm’s revenue was down 1.0% on a year-over-year basis.

EVgo Price Performance

Shares of NASDAQ:EVGO remained flat at $1.75 during trading on Friday. The stock had a trading volume of 2,896,724 shares, compared to its average volume of 7,718,802. EVgo has a 1 year low of $0.98 and a 1 year high of $3.54. The firm has a market capitalization of $550.41 million, a PE ratio of -3.89 and a beta of 2.87. The company has a quick ratio of 2.19, a current ratio of 1.87 and a debt-to-equity ratio of 44.14. The business’s 50-day moving average price is $1.38 and its 200-day moving average price is $1.87.

Analysts Set New Price Targets

Several brokerages recently commented on EVGO. Evercore reaffirmed an “outperform” rating and issued a $2.50 price objective on shares of EVgo in a research report on Monday, September 21st. Morgan Stanley set a $2.50 target price on shares of EVgo in a research report on Thursday, August 6th. Roth Capital lowered shares of EVgo from a “buy” rating to a “neutral” rating and set a $2.00 price target on the stock. in a research note on Tuesday, November 10th. Weiss Ratings cut shares of EVgo from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, November 9th. Finally, JPMorgan Chase & Co. cut shares of EVgo from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 21st. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $2.21.

EVgo Company Profile

EVgo Inc. operates a public electric vehicle fast-charging network in the United States. Its stations primarily provide direct-current fast charging, allowing drivers to recharge compatible vehicles while traveling or during daily trips. Drivers can locate stations and manage charging sessions through EVgo’s mobile app and other vehicle and navigation platforms. The company also works with automakers, fleets, rideshare operators, utilities, and commercial property owners to develop and support charging infrastructure.