EVgo Inc. (NASDAQ:EVGO) Stock Has Average Target Price of $3.65

Shares of EVgo Inc. (NASDAQ:EVGO) have received a consensus recommendation of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $3.49.

A number of equities analysts have recently issued reports on EVGO shares. Morgan Stanley set a $2.50 price objective on EVgo in a report on Thursday, August 6th. Royal Bank Of Canada decreased their price objective on EVgo from $3.00 to $2.50 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Evercore reaffirmed an “outperform” rating and issued a $2.50 target price on shares of EVgo in a research note on Monday. Stifel Nicolaus cut their target price on EVgo from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, August 25th. Finally, Roth Capital set a $2.00 price target on shares of EVgo in a research report on Monday, August 10th.

Institutional Trading of EVgo

Institutional investors have recently added to or reduced their stakes in the business. UBS Group AG boosted its holdings in EVgo by 83.6% during the 4th quarter. UBS Group AG now owns 1,043,689 shares of the company’s stock valued at $3,037,000 after acquiring an additional 475,092 shares during the period. Lazard Asset Management LLC lifted its position in EVgo by 89.4% in the first quarter. Lazard Asset Management LLC now owns 652,657 shares of the company’s stock valued at $1,123,000 after purchasing an additional 307,984 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of EVgo by 31.8% during the first quarter. Renaissance Technologies LLC now owns 1,192,933 shares of the company’s stock valued at $2,052,000 after purchasing an additional 288,100 shares during the period. Abel Hall LLC grew its holdings in shares of EVgo by 78.4% in the first quarter. Abel Hall LLC now owns 50,759 shares of the company’s stock worth $87,000 after purchasing an additional 22,313 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of EVgo in the first quarter worth $60,000. 17.44% of the stock is currently owned by hedge funds and other institutional investors.

EVgo Price Performance

Shares of NASDAQ:EVGO opened at $1.33 on Friday. The company’s fifty day moving average price is $1.50 and its 200-day moving average price is $1.80. The firm has a market capitalization of $418.31 million, a price-to-earnings ratio of -3.32 and a beta of 2.84. EVgo has a one year low of $1.23 and a one year high of $5.18. The company has a debt-to-equity ratio of 5.39, a current ratio of 2.19 and a quick ratio of 2.19.

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

About EVgo

EVgo, Inc operates a public electric vehicle (EV) fast-charging network in the United States. The company develops, owns, and operates charging stations designed primarily for drivers who need to recharge away from home, including at retail centers, grocery stores, parking facilities, and other convenient locations.

EVgo provides charging services through its mobile app and website, which allow customers to locate stations, start charging sessions, and manage payments. The company also offers charging memberships, fleet and rideshare charging solutions, and charging software and services for commercial partners.