Analysts Set EVgo Inc. (NASDAQ:EVGO) Target Price at $5.82

Shares of EVgo Inc. (NASDAQ:EVGO) have been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $5.2714.

EVGO has been the topic of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of EVgo in a research note on Thursday, January 22nd. Stifel Nicolaus decreased their target price on shares of EVgo from $7.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday. UBS Group lifted their target price on shares of EVgo from $5.40 to $5.90 and gave the company a “buy” rating in a report on Tuesday, November 11th. Benchmark reissued a “buy” rating on shares of EVgo in a research report on Monday. Finally, Royal Bank Of Canada reduced their price objective on EVgo from $7.00 to $4.50 and set an “outperform” rating for the company in a research report on Wednesday.

EVgo Trading Down 3.5%

Shares of EVgo stock opened at $2.21 on Wednesday. The firm has a market capitalization of $680.64 million, a P/E ratio of -6.91 and a beta of 2.63. The business has a fifty day simple moving average of $2.95 and a two-hundred day simple moving average of $3.52. EVgo has a 12 month low of $2.13 and a 12 month high of $5.18.

EVgo (NASDAQ:EVGO) last released its earnings results on Tuesday, March 3rd. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.10. The business had revenue of $118.47 million during the quarter. EVgo’s revenue for the quarter was up 75.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.11) earnings per share. Analysts predict that EVgo will post -0.45 earnings per share for the current year.

Hedge Funds Weigh In On EVgo

Several institutional investors and hedge funds have recently modified their holdings of EVGO. Quarry LP raised its position in shares of EVgo by 145.0% in the 4th quarter. Quarry LP now owns 9,307 shares of the company’s stock worth $27,000 after purchasing an additional 5,508 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in EVgo during the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd increased its stake in 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 valued at $29,000 after purchasing an additional 9,659 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in EVgo during the 4th quarter valued at about $32,000. Finally, Fullerton Advisors LLC purchased a new position in EVgo in the fourth quarter worth about $36,000. 17.44% of the stock is currently owned by institutional investors.

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.