EVgo (NASDAQ:EVGO) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

EVgo (NASDAQ:EVGO) posted its quarterly earnings results on Saturday. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.06, Briefing.com reports. EVgo’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.09) earnings per share.

EVgo Price Performance

Shares of EVgo stock remained flat at $1.75 during mid-day trading on Friday. 2,896,724 shares of the stock traded hands, compared to its average volume of 7,718,802. The firm’s 50-day simple moving average is $1.38 and its 200-day simple moving average is $1.87. EVgo has a twelve month low of $0.98 and a twelve month high of $3.54. The company has a current ratio of 1.87, a quick ratio of 2.19 and a debt-to-equity ratio of 44.14. The company has a market cap of $550.41 million, a price-to-earnings ratio of -3.89 and a beta of 2.87.

Wall Street Analysts Forecast Growth

A number of analysts have commented on EVGO shares. Roth Capital downgraded shares of EVgo from a “buy” rating to a “neutral” rating and set a $2.00 price objective for the company. in a report on Tuesday, November 10th. Royal Bank Of Canada lowered shares of EVgo from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $1.75 to $2.00 in a research note on Tuesday, November 10th. JPMorgan Chase & Co. cut EVgo from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 21st. Morgan Stanley set a $2.50 target price on EVgo in a report on Thursday, August 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of EVgo in a research report on Wednesday, August 5th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $2.21.

About EVgo

EVgo Inc. operates a public electric vehicle fast-charging network in the United States. Its stations primarily provide direct-current fast charging, allowing drivers to recharge compatible vehicles while traveling or during daily trips. Drivers can locate stations and manage charging sessions through EVgo’s mobile app and other vehicle and navigation platforms. The company also works with automakers, fleets, rideshare operators, utilities, and commercial property owners to develop and support charging infrastructure.