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

EVgo Inc. (NASDAQ:EVGO) has been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $5.8167.

Several equities research analysts have commented on the stock. Needham & Company LLC restated a “hold” rating on shares of EVgo in a research report on Tuesday, October 14th. Stifel Nicolaus decreased their price objective on shares of EVgo from $8.00 to $7.50 and set a “buy” rating on the stock in a report on Tuesday, November 25th. Cantor Fitzgerald restated an “overweight” rating on shares of EVgo in a research report on Monday, November 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EVgo in a report on Wednesday, October 8th. Finally, UBS Group boosted their price target on EVgo from $5.40 to $5.90 and gave the stock a “buy” rating in a research note on Tuesday, November 11th.

Institutional Trading of EVgo

Several large investors have recently bought and sold shares of EVGO. Ethic Inc. acquired a new position in shares of EVgo during the 2nd quarter worth $38,000. Ameriprise Financial Inc. purchased a new position in EVgo during the 3rd quarter valued at about $49,000. Banco BTG Pactual S.A. acquired a new position in EVgo during the second quarter worth about $41,000. Russell Investments Group Ltd. lifted its holdings in shares of EVgo by 1,095.5% in the third quarter. Russell Investments Group Ltd. now owns 11,154 shares of the company’s stock valued at $53,000 after purchasing an additional 10,221 shares in the last quarter. Finally, Dark Forest Capital Management LP purchased a new stake in shares of EVgo in the third quarter valued at about $55,000. Institutional investors and hedge funds own 17.44% of the company’s stock.

EVgo Trading Up 2.3%

Shares of EVGO opened at $3.07 on Tuesday. The stock’s 50 day moving average is $3.11 and its two-hundred day moving average is $3.69. EVgo has a twelve month low of $2.19 and a twelve month high of $5.18. The firm has a market capitalization of $945.50 million, a PE ratio of -7.87 and a beta of 2.38.

EVgo (NASDAQ:EVGO) last issued its earnings results on Monday, November 10th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.09. The business had revenue of $92.30 million for the quarter, compared to analysts’ expectations of $94.42 million. During the same period last year, the company posted ($0.11) earnings per share. The business’s quarterly revenue was up 36.7% on a year-over-year basis. On average, sell-side analysts predict that EVgo will post -0.45 EPS for the current year.

About EVgo

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.