EVgo Inc. (NASDAQ:EVGO) Receives Consensus Rating of “Hold” from Brokerages

EVgo Inc. (NASDAQ:EVGO) has received an average rating of “Hold” from the nine research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $5.28.

A number of research analysts recently weighed in on the stock. Benchmark restated a “buy” rating on shares of EVgo in a research note on Monday, March 2nd. Stifel Nicolaus lowered their target price on shares of EVgo from $7.50 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Royal Bank Of Canada lowered their target price on shares of EVgo from $4.50 to $3.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. Wall Street Zen cut shares of EVgo from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 9th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of EVgo in a research note on Wednesday, March 25th.

EVgo Stock Up 2.6%

EVGO opened at $1.94 on Friday. The company has a debt-to-equity ratio of 5.39, a quick ratio of 2.07 and a current ratio of 2.07. EVgo has a fifty-two week low of $1.64 and a fifty-two week high of $5.18. The firm’s fifty day moving average is $2.05 and its 200 day moving average is $2.51. The stock has a market cap of $608.89 million, a price-to-earnings ratio of -5.54 and a beta of 2.80.

EVgo (NASDAQ:EVGO) last released its earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02. The firm had revenue of $109.53 million for the quarter. During the same quarter last year, the business posted ($0.09) EPS. The business’s quarterly revenue was up 45.4% compared to the same quarter last year. On average, sell-side analysts forecast that EVgo will post -0.51 earnings per share for the current fiscal year.

Institutional Trading of EVgo

Several hedge funds have recently bought and sold shares of EVGO. AQR Capital Management LLC lifted its stake in EVgo by 1,188.1% in the 1st quarter. AQR Capital Management LLC now owns 494,598 shares of the company’s stock worth $1,316,000 after purchasing an additional 456,201 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in EVgo by 31.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,339 shares of the company’s stock worth $222,000 after purchasing an additional 19,883 shares in the last quarter. Millennium Management LLC lifted its stake in EVgo by 25.9% in the 1st quarter. Millennium Management LLC now owns 5,819,392 shares of the company’s stock worth $15,480,000 after purchasing an additional 1,195,470 shares in the last quarter. Creative Planning lifted its stake in EVgo by 56.4% in the 2nd quarter. Creative Planning now owns 44,353 shares of the company’s stock worth $162,000 after purchasing an additional 16,000 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in EVgo by 53.0% in the 2nd quarter. Cetera Investment Advisers now owns 43,183 shares of the company’s stock worth $158,000 after purchasing an additional 14,958 shares in the last quarter. Hedge funds and other 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.