Brokerages Set EVgo Inc. (NASDAQ:EVGO) PT at $5.58

Shares of EVgo Inc. (NASDAQ:EVGO) have been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $5.58.

EVGO has been the topic of a number of recent research reports. Cantor Fitzgerald cut their target price on shares of EVgo from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 4th. Stifel Nicolaus dropped their price objective on shares of EVgo from $7.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of EVgo in a research report on Wednesday, March 25th. Royal Bank Of Canada cut their price target on EVgo from $7.00 to $4.50 and set an “outperform” rating on the stock in a research note on Wednesday, March 4th. Finally, Benchmark reiterated a “buy” rating on shares of EVgo in a report on Monday, March 2nd.

EVgo Stock Down 1.4%

NASDAQ:EVGO opened at $2.10 on Thursday. EVgo has a 52 week low of $1.64 and a 52 week high of $5.18. The company has a fifty day simple moving average of $2.16 and a two-hundred day simple moving average of $2.90. The company has a market cap of $657.47 million, a price-to-earnings ratio of -6.56 and a beta of 2.80.

EVgo (NASDAQ:EVGO) last released its earnings results on Tuesday, March 3rd. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.10. The company had revenue of $118.47 million during the quarter. During the same period in the previous year, the business posted ($0.11) EPS. The company’s revenue for the quarter was up 75.5% compared to the same quarter last year. On average, analysts expect that EVgo will post -0.45 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Quarry LP raised its stake in EVgo by 145.0% during the 4th quarter. Quarry LP now owns 9,307 shares of the company’s stock worth $27,000 after acquiring an additional 5,508 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of EVgo during the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of EVgo by 4,903.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 9,856 shares of the company’s stock valued at $29,000 after purchasing an additional 9,659 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in EVgo during the 4th quarter worth approximately $32,000. Finally, Fullerton Advisors LLC acquired a new position in EVgo during the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 17.44% of the company’s stock.

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.