EVgo (NASDAQ:EVGO) Sets New 12-Month Low – Time to Sell?

EVgo Inc. (NASDAQ:EVGO)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $1.92 and last traded at $1.93, with a volume of 7174596 shares trading hands. The stock had previously closed at $2.06.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Cantor Fitzgerald decreased their price target on shares of EVgo from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 4th. Benchmark reissued a “buy” rating on shares of EVgo in a report on Monday, March 2nd. Stifel Nicolaus decreased their target price on shares of EVgo from $7.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. Royal Bank Of Canada lowered their target price on shares of EVgo from $7.00 to $4.50 and set an “outperform” rating on the stock in a report on Wednesday, March 4th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of EVgo in a research report on Thursday, January 22nd. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, EVgo presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.32.

EVgo Price Performance

The company has a market cap of $594.40 million, a P/E ratio of -6.03 and a beta of 2.63. The stock has a 50-day moving average of $2.80 and a 200 day moving average of $3.41.

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

Institutional Trading of EVgo

Institutional investors and hedge funds have recently made changes to their positions in the company. Soros Fund Management LLC boosted its position in shares of EVgo by 342.2% during the 2nd quarter. Soros Fund Management LLC now owns 4,976,983 shares of the company’s stock worth $18,166,000 after acquiring an additional 3,851,583 shares in the last quarter. State Street Corp raised its position in EVgo by 59.3% during the fourth quarter. State Street Corp now owns 6,346,462 shares of the company’s stock valued at $18,468,000 after purchasing an additional 2,362,435 shares in the last quarter. Invesco Ltd. lifted its stake 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 purchasing an additional 2,327,545 shares during the last quarter. Millennium Management LLC lifted its stake 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 purchasing an additional 1,734,958 shares during the last quarter. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of EVgo in the 3rd quarter valued at $8,165,000. Institutional investors own 17.44% of the company’s stock.

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.