EVgo Inc. (NASDAQ:EVGO) Receives $5.82 Consensus Price Target from Analysts

EVgo Inc. (NASDAQ:EVGO) has received an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $5.8167.

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus lowered their price objective on shares of EVgo from $8.00 to $7.50 and set a “buy” rating on the stock in a research report on Tuesday, November 25th. Weiss Ratings restated a “sell (d-)” rating on shares of EVgo in a research report on Wednesday, October 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of EVgo in a report on Monday, November 17th. Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a research note on Tuesday, October 14th. Finally, UBS Group increased their price target on shares of EVgo from $5.40 to $5.90 and gave the stock a “buy” rating in a report on Tuesday, November 11th.

Institutional Trading of EVgo

A number of institutional investors have recently modified their holdings of EVGO. Vanguard Group Inc. grew its holdings in EVgo by 1.3% during the third quarter. Vanguard Group Inc. now owns 12,399,808 shares of the company’s stock worth $58,651,000 after acquiring an additional 157,376 shares during the period. Millennium Management LLC boosted its position in shares of EVgo by 25.9% during 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. Soros Fund Management LLC grew its stake in shares of EVgo by 342.2% during the 2nd quarter. Soros Fund Management LLC now owns 4,976,983 shares of the company’s stock worth $18,166,000 after purchasing an additional 3,851,583 shares during the period. Geode Capital Management LLC increased its holdings in shares of EVgo by 11.1% in the 2nd quarter. Geode Capital Management LLC now owns 3,147,529 shares of the company’s stock valued at $11,490,000 after purchasing an additional 313,335 shares in the last quarter. Finally, HITE Hedge Asset Management LLC lifted its stake in shares of EVgo by 13.8% in the third quarter. HITE Hedge Asset Management LLC now owns 2,946,791 shares of the company’s stock valued at $13,938,000 after purchasing an additional 356,614 shares during the period. 17.44% of the stock is currently owned by hedge funds and other institutional investors.

EVgo Stock Down 4.8%

EVGO opened at $3.00 on Tuesday. EVgo has a 52 week low of $2.19 and a 52 week high of $5.18. The business has a 50 day moving average price of $3.12 and a two-hundred day moving average price of $3.69. The company has a market cap of $923.94 million, a PE ratio of -7.69 and a beta of 2.38.

EVgo (NASDAQ:EVGO) last announced its earnings results on Monday, November 10th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.09. The company had revenue of $92.30 million during the quarter, compared to analysts’ expectations of $94.42 million. The company’s revenue for the quarter was up 36.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.11) earnings per share. As a group, sell-side analysts expect that EVgo will post -0.45 EPS for the current fiscal year.

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.