EVgo Inc. (NASDAQ:EVGO) Receives Average Recommendation of “Hold” from Brokerages

Shares of EVgo Inc. (NASDAQ:EVGO) have been given an average rating of “Hold” by the nine research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $5.28.

Several research firms recently weighed in on EVGO. Wall Street Zen downgraded EVgo from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 9th. Royal Bank Of Canada dropped their price objective on shares of EVgo from $4.50 to $3.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of EVgo in a report on Wednesday, March 25th.

Hedge Funds Weigh In On EVgo

A number of large investors have recently bought and sold shares of the stock. 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 valued at $27,000 after purchasing an additional 5,508 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of EVgo during the 4th quarter worth $27,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of 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 worth $29,000 after buying an additional 9,659 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of EVgo in the 4th quarter worth $32,000. Finally, Sage Investment Advisers LLC purchased a new position in shares of EVgo in the 4th quarter worth $36,000. Hedge funds and other institutional investors own 17.44% of the company’s stock.

EVgo Trading Down 4.4%

Shares of EVGO opened at $1.73 on Tuesday. The stock has a fifty day moving average of $1.96 and a two-hundred day moving average of $2.34. The company has a debt-to-equity ratio of 5.39, a quick ratio of 2.07 and a current ratio of 2.07. The company has a market capitalization of $542.98 million, a PE ratio of -4.94 and a beta of 2.78. EVgo has a fifty-two week low of $1.64 and a fifty-two week high of $5.18.

EVgo (NASDAQ:EVGO) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.02. The business had revenue of $109.53 million for the quarter. The firm’s revenue was up 45.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.09) EPS. As a group, analysts forecast that EVgo will post -0.51 EPS for the current 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.