FY2024 EPS Estimates for EVgo, Inc. (NYSE:EVGO) Boosted by Roth Capital

EVgo, Inc. (NYSE:EVGO) – Equities researchers at Roth Capital upped their FY2024 EPS estimates for EVgo in a research report issued on Wednesday, May 8th. Roth Capital analyst C. Irwin now anticipates that the company will post earnings per share of ($0.38) for the year, up from their previous forecast of ($0.39). The consensus estimate for EVgo’s current full-year earnings is ($0.37) per share. Roth Capital also issued estimates for EVgo’s Q4 2024 earnings at ($0.08) EPS.

EVgo (NYSE:EVGO) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The business had revenue of $55.16 million for the quarter, compared to analysts’ expectations of $52.41 million. During the same quarter in the previous year, the firm earned ($0.09) EPS. EVgo’s revenue was up 118.0% compared to the same quarter last year.

EVGO has been the subject of a number of other research reports. Evercore ISI decreased their price objective on shares of EVgo from $9.00 to $8.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a research note on Wednesday. Royal Bank of Canada reissued an “outperform” rating and issued a $4.00 price objective on shares of EVgo in a research note on Friday, April 5th. Cantor Fitzgerald raised EVgo from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $5.00 to $4.00 in a research report on Thursday. Finally, Citigroup lowered their target price on EVgo from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Thursday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $4.88.

EVgo Trading Up 13.7 %

Shares of EVGO opened at $1.99 on Friday. The firm has a fifty day moving average price of $2.21 and a 200-day moving average price of $2.60. The firm has a market capitalization of $600.02 million, a P/E ratio of -4.23 and a beta of 2.53. EVgo has a 12-month low of $1.65 and a 12-month high of $6.18.

Insiders Place Their Bets

In other news, President Dennis G. Kish sold 34,717 shares of EVgo stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total value of $104,151.00. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, President Dennis G. Kish sold 34,717 shares of EVgo stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $3.00, for a total value of $104,151.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Olga Shevorenkova sold 19,363 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total transaction of $58,089.00. Following the transaction, the chief financial officer now owns 81,991 shares of the company’s stock, valued at approximately $245,973. The disclosure for this sale can be found here. Insiders sold a total of 56,230 shares of company stock worth $167,409 over the last 90 days. Company insiders own 66.96% of the company’s stock.

Institutional Trading of EVgo

Institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP increased its stake in EVgo by 323.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,724,042 shares of the company’s stock valued at $9,207,000 after purchasing an additional 2,080,839 shares in the last quarter. Prime Capital Investment Advisors LLC acquired a new position in shares of EVgo in the 4th quarter valued at $59,000. Dark Forest Capital Management LP raised its stake in EVgo by 1,862.2% in the 3rd quarter. Dark Forest Capital Management LP now owns 244,722 shares of the company’s stock worth $827,000 after acquiring an additional 232,250 shares during the last quarter. Handelsbanken Fonder AB acquired a new stake in EVgo during the 4th quarter worth about $121,000. Finally, Vanguard Group Inc. grew its stake in EVgo by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 9,501,327 shares of the company’s stock valued at $32,114,000 after purchasing an additional 421,704 shares during the last quarter. Institutional investors and hedge funds own 17.44% of the company’s stock.

About EVgo

EVgo, Inc owns and operates a direct current fast charging network for electric vehicles (EVs) in the United States. The company offers electricity directly to drivers, who access its publicly available networked chargers; original equipment manufacturer charging and related services; fleet and rideshare public charging services; and charging as a service and fleet dedicated charging services.