EVgo Inc. (NASDAQ:EVGO) Receives $5.28 Consensus PT from Brokerages

EVgo Inc. (NASDAQ:EVGO) has received a consensus rating of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $5.28.

Several research firms have issued reports on EVGO. Wall Street Zen lowered EVgo from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of EVgo in a report on Wednesday, March 25th. Royal Bank Of Canada cut their price target on EVgo from $4.50 to $3.00 and set an “outperform” rating for the company in a report on Wednesday, May 6th. Benchmark reissued a “buy” rating on shares of EVgo in a report on Monday, March 2nd. Finally, Stifel Nicolaus dropped their price objective on EVgo from $7.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th.

EVgo Stock Performance

NASDAQ:EVGO opened at $1.88 on Monday. The stock has a 50-day simple moving average of $1.96 and a two-hundred day simple moving average of $2.66. EVgo has a 52-week low of $1.64 and a 52-week high of $5.18. The company has a debt-to-equity ratio of 5.39, a quick ratio of 2.07 and a current ratio of 2.07. The firm has a market capitalization of $590.06 million, a PE ratio of -5.37 and a beta of 2.82.

EVgo (NASDAQ:EVGO) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.02. The company had revenue of $109.53 million for the quarter. During the same period in the previous year, the company earned ($0.09) earnings per share. The business’s revenue for the quarter was up 45.4% compared to the same quarter last year. Analysts forecast that EVgo will post -0.45 EPS for the current year.

Hedge Funds Weigh In On EVgo

Hedge funds have recently made changes to their positions in the business. Quarry LP boosted its stake in shares of EVgo by 145.0% in the fourth quarter. Quarry LP now owns 9,307 shares of the company’s stock worth $27,000 after acquiring an additional 5,508 shares during the period. Kestra Advisory Services LLC bought a new position in shares of EVgo in the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of EVgo by 4,903.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 9,856 shares of the company’s stock worth $29,000 after acquiring an additional 9,659 shares during the period. Ameriprise Financial Inc. bought a new position in shares of EVgo in the third quarter worth about $49,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of EVgo in the fourth quarter worth about $32,000. Institutional investors 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.