EVgo (NASDAQ:EVGO) Sets New 52-Week Low – Time to Sell?

EVgo Inc. (NASDAQ:EVGO)’s stock price hit a new 52-week low during trading on Friday . The stock traded as low as $2.05 and last traded at $2.08, with a volume of 3963194 shares. The stock had previously closed at $2.10.

Analyst Upgrades and Downgrades

EVGO has been the subject of a number of analyst reports. Benchmark reaffirmed a “buy” rating on shares of EVgo in a research note on Monday, March 2nd. Stifel Nicolaus reduced their price target on shares of EVgo from $7.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of EVgo in a research report on Thursday, January 22nd. Cantor Fitzgerald reduced their price objective on shares of EVgo from $7.00 to $6.00 and set an “overweight” rating for the company in a research note on Wednesday, March 4th. Finally, Royal Bank Of Canada dropped their price objective on EVgo from $7.00 to $4.50 and set an “outperform” rating on the stock in a research note on Wednesday, March 4th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $5.32.

EVgo Trading Down 1.0%

The firm has a market cap of $640.60 million, a P/E ratio of -6.50 and a beta of 2.63. The business has a 50 day moving average of $2.89 and a two-hundred day moving average of $3.47.

EVgo (NASDAQ:EVGO) last announced its earnings results on Tuesday, March 3rd. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.10. The company had revenue of $118.47 million for the quarter. During the same period last year, the firm earned ($0.11) earnings per share. The business’s revenue for the quarter was up 75.5% compared to the same quarter last year. On average, sell-side analysts predict that EVgo Inc. will post -0.45 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. increased its stake in EVgo by 27.8% in the second quarter. Ameritas Investment Partners Inc. now owns 13,089 shares of the company’s stock valued at $48,000 after purchasing an additional 2,847 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of EVgo by 14.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 37,603 shares of the company’s stock worth $179,000 after buying an additional 4,732 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of EVgo by 7.4% during the fourth quarter. Advisors Asset Management Inc. now owns 70,388 shares of the company’s stock valued at $205,000 after acquiring an additional 4,826 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in EVgo by 22.5% during the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 26,798 shares of the company’s stock worth $78,000 after acquiring an additional 4,926 shares during the period. Finally, Quarry LP boosted its holdings 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 buying an additional 5,508 shares during the last quarter. 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.