EVgo Inc. (NASDAQ:EVGO) Receives $5.82 Average Price Target from Brokerages

EVgo Inc. (NASDAQ:EVGO) has been given a consensus recommendation of “Moderate Buy” by the nine research firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $5.8167.

A number of equities analysts have weighed in on the stock. UBS Group raised their target price on shares of EVgo from $5.40 to $5.90 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Cantor Fitzgerald reissued an “overweight” rating on shares of EVgo in a research note on Monday, November 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a research report on Tuesday, October 14th. Stifel Nicolaus dropped their price target on shares of EVgo from $8.00 to $7.50 and set a “buy” rating on the stock in a research note on Tuesday, November 25th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of EVgo in a research note on Thursday, January 22nd.

EVgo Stock Up 0.3%

NASDAQ EVGO opened at $3.24 on Friday. The stock’s 50 day moving average is $3.12 and its 200 day moving average is $3.63. The firm has a market capitalization of $997.86 million, a PE ratio of -8.31 and a beta of 2.58. EVgo has a twelve month low of $2.19 and a twelve month high of $5.18.

EVgo (NASDAQ:EVGO) last announced its earnings results on Monday, November 10th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.09. The business had revenue of $92.30 million for the quarter, compared to the consensus estimate of $94.42 million. The business’s quarterly revenue was up 36.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.11) EPS. On average, research analysts anticipate that EVgo will post -0.45 earnings per share for the current year.

Institutional Trading of EVgo

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of EVgo by 1.3% during the third quarter. Vanguard Group Inc. now owns 12,399,808 shares of the company’s stock valued at $58,651,000 after purchasing an additional 157,376 shares in the last quarter. Millennium Management LLC lifted its stake in EVgo by 25.9% during the 1st quarter. Millennium Management LLC now owns 5,819,392 shares of the company’s stock valued at $15,480,000 after acquiring an additional 1,195,470 shares during the period. Soros Fund Management LLC lifted its stake in EVgo by 342.2% during the 2nd quarter. Soros Fund Management LLC now owns 4,976,983 shares of the company’s stock valued at $18,166,000 after acquiring an additional 3,851,583 shares during the period. Geode Capital Management LLC boosted its holdings in shares of EVgo by 11.1% during the 2nd quarter. Geode Capital Management LLC now owns 3,147,529 shares of the company’s stock valued at $11,490,000 after acquiring an additional 313,335 shares during the last quarter. Finally, HITE Hedge Asset Management LLC grew its stake in shares of EVgo by 13.8% in the third quarter. HITE Hedge Asset Management LLC now owns 2,946,791 shares of the company’s stock worth $13,938,000 after acquiring an additional 356,614 shares during the period. 17.44% of the stock is currently owned by hedge funds and other institutional investors.

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.