EVgo (NASDAQ:EVGO) Receives Underweight Rating from JPMorgan Chase & Co.

EVgo (NASDAQ:EVGO)‘s stock had its “underweight” rating reaffirmed by equities researchers at JPMorgan Chase & Co. in a research report issued on Tuesday,Benzinga reports.

Other equities analysts have also recently issued reports about the stock. Royal Bank Of Canada cut their target price on shares of EVgo from $4.50 to $3.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of EVgo in a research report on Wednesday, July 15th. Finally, Wall Street Zen cut shares of EVgo from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.28.

EVgo Stock Performance

Shares of EVgo stock traded down $0.01 on Tuesday, hitting $1.67. The stock had a trading volume of 991,887 shares, compared to its average volume of 4,038,263. EVgo has a 52-week low of $1.61 and a 52-week high of $5.18. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 5.39. The stock has a market cap of $522.58 million, a price-to-earnings ratio of -4.76 and a beta of 2.78. The company’s 50 day moving average price is $1.94 and its 200 day moving average price is $2.30.

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, topping analysts’ consensus estimates of ($0.14) by $0.02. The firm had revenue of $109.53 million for the quarter. During the same quarter in the previous year, the company earned ($0.09) EPS. The firm’s revenue was up 45.4% compared to the same quarter last year. On average, research analysts anticipate that EVgo will post -0.51 EPS for the current year.

Institutional Trading of EVgo

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