Analysts Set EVgo Inc. (NASDAQ:EVGO) Price Target at $5.82

EVgo Inc. (NASDAQ:EVGO) has earned a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $5.8167.

Several analysts have recently commented on EVGO shares. Cantor Fitzgerald restated an “overweight” rating on shares of EVgo in a research note on Monday, November 17th. UBS Group increased their price target on EVgo from $5.40 to $5.90 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Needham & Company LLC restated a “hold” rating on shares of EVgo in a report 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 research report on Tuesday, November 25th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of EVgo in a report on Wednesday, October 8th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in EVGO. Hsbc Holdings PLC bought a new stake in shares of EVgo during the first quarter worth about $38,000. Ethic Inc. bought a new position in EVgo in the 2nd quarter valued at about $38,000. Banco BTG Pactual S.A. acquired a new position in EVgo during the 2nd quarter valued at about $41,000. Ameritas Investment Partners Inc. increased its holdings in EVgo by 27.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,089 shares of the company’s stock worth $48,000 after purchasing an additional 2,847 shares in the last quarter. Finally, Ameriprise Financial Inc. bought a new stake in EVgo during the 3rd quarter worth approximately $49,000. 17.44% of the stock is owned by institutional investors.

EVgo Stock Down 0.3%

EVgo stock opened at $3.05 on Friday. The company has a market capitalization of $939.34 million, a PE ratio of -7.82 and a beta of 2.37. EVgo has a 12-month low of $2.19 and a 12-month high of $5.18. The firm’s fifty day moving average is $3.52 and its 200 day moving average is $3.83.

EVgo (NASDAQ:EVGO) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.09. The company had revenue of $92.30 million during the quarter, compared to analyst estimates of $94.42 million. During the same quarter in the previous year, the business posted ($0.11) earnings per share. The company’s revenue for the quarter was up 36.7% compared to the same quarter last year. Sell-side analysts expect 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.