EVgo Inc. (NASDAQ:EVGO) Given Consensus Recommendation of “Hold” by Brokerages

Shares of EVgo Inc. (NASDAQ:EVGO) have earned a consensus recommendation of “Hold” from the eight research firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $4.18.

Several research firms have recently commented on EVGO. Royal Bank Of Canada cut their price target on EVgo from $3.00 to $2.50 and set an “outperform” rating for the company in a research note on Thursday. Weiss Ratings reissued a “sell (e+)” rating on shares of EVgo in a research note on Wednesday, July 15th. Morgan Stanley set a $2.50 price objective on shares of EVgo in a research report on Thursday. Wall Street Zen lowered shares of EVgo from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 9th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of EVgo in a research report on Tuesday, July 21st.

EVgo Price Performance

Shares of EVGO opened at $1.62 on Friday. The company has a debt-to-equity ratio of 5.39, a quick ratio of 2.07 and a current ratio of 2.07. EVgo has a fifty-two week low of $1.41 and a fifty-two week high of $5.18. The firm has a 50-day simple moving average of $1.83 and a 200-day simple moving average of $2.16. The company has a market capitalization of $508.45 million, a price-to-earnings ratio of -4.05 and a beta of 2.82.

EVgo (NASDAQ:EVGO) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.03. The company had revenue of $82.65 million during the quarter. During the same quarter in the previous year, the business earned ($0.10) EPS. The firm’s revenue for the quarter was down 15.7% compared to the same quarter last year. On average, equities research analysts anticipate that EVgo will post -0.51 earnings per share for the current year.

Key Stories Impacting EVgo

Here are the key news stories impacting EVgo this week:

• Positive Sentiment: EVgo plans to deploy EVgo-branded Tesla V4 Superchargers across its U.S. network under license. The chargers can reportedly deliver up to 500 kW and use Tesla’s Magic Dock, potentially improving charging speed, vehicle compatibility and network utilization. EVgo Will Install Tesla Superchargers At Its Charging Stations
• Positive Sentiment: Management outlined a path toward approximately $500 million in adjusted EBITDA by 2030, supported by network growth and the new Tesla-charger initiative. The target provides a long-term profitability narrative for investors, although execution remains important. EVgo outlines path to approximately $0.5 billion adjusted EBITDA by 2030
• Neutral Sentiment: Needham reiterated a “Hold” rating, signaling that the firm sees limited near-term justification for a more bullish stance despite EVgo’s strategic initiatives. Needham reiterates Hold rating for EVgo
• Negative Sentiment: Royal Bank of Canada lowered its price target from $3.00 to $2.50, while maintaining an “Outperform” rating. The reduced target reflects more cautious valuation assumptions, even though it remains above the current share price. EVgo price target lowered to $2.50 at Royal Bank of Canada
• Negative Sentiment: Cantor Fitzgerald cut its target from $4.00 to $3.00 but retained an “Overweight” rating. Multiple target reductions may weigh on sentiment by highlighting valuation and execution concerns. EVgo price target cut to $3.00 by Cantor Fitzgerald

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EVGO. State Street Corp grew its stake in shares of EVgo by 59.3% during the 4th quarter. State Street Corp now owns 6,346,462 shares of the company’s stock worth $18,468,000 after purchasing an additional 2,362,435 shares during the period. Invesco Ltd. boosted its holdings in EVgo by 111.0% during the fourth quarter. Invesco Ltd. now owns 4,424,683 shares of the company’s stock worth $12,876,000 after buying an additional 2,327,545 shares in the last quarter. Millennium Management LLC grew its position in EVgo by 45.3% during the third quarter. Millennium Management LLC now owns 5,560,748 shares of the company’s stock worth $26,302,000 after buying an additional 1,734,958 shares during the period. Tudor Investment Corp ET AL purchased a new position in EVgo in the third quarter valued at about $8,165,000. Finally, Pictet Asset Management Holding SA increased its holdings in EVgo by 78.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,273,200 shares of the company’s stock valued at $6,615,000 after buying an additional 996,815 shares in the last quarter. Institutional investors and hedge funds 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.