EVgo Inc. (NASDAQ:EVGO) Receives $3.65 Consensus Price Target from Brokerages

Shares of EVgo Inc. (NASDAQ:EVGO) have earned a consensus rating of “Hold” from the eight analysts that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $3.65.

Several brokerages have recently issued reports on EVGO. Wall Street Zen downgraded shares of EVgo from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 9th. Stifel Nicolaus reduced their price target on shares of EVgo from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, August 25th. Cantor Fitzgerald decreased their price objective on shares of EVgo from $4.00 to $3.00 and set an “overweight” rating for the company in a report on Thursday, August 6th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of EVgo in a research report on Tuesday, July 21st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a research note on Wednesday, August 5th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Pictet Asset Management Holding SA raised its position in EVgo by 78.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,273,200 shares of the company’s stock worth $6,615,000 after buying an additional 996,815 shares during the last quarter. UBS Group AG lifted its stake 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 boosted its holdings in shares of EVgo by 89.4% during the 1st quarter. Lazard Asset Management LLC now owns 652,657 shares of the company’s stock valued at $1,123,000 after acquiring an additional 307,984 shares during the last quarter. Fullerton Advisors LLC purchased a new stake in shares of EVgo during the 4th quarter valued at about $36,000. Finally, Inspire Investing LLC grew its stake in shares of EVgo by 84.6% in the first quarter. Inspire Investing LLC now owns 298,926 shares of the company’s stock worth $514,000 after acquiring an additional 136,960 shares during the period. 17.44% of the stock is owned by institutional investors.

EVgo Price Performance

EVGO opened at $1.38 on Wednesday. The stock has a 50-day moving average price of $1.66 and a 200-day moving average price of $1.99. The company has a debt-to-equity ratio of 5.39, a current ratio of 2.19 and a quick ratio of 2.19. The firm has a market cap of $434.03 million, a PE ratio of -3.45 and a beta of 2.82. EVgo has a 1 year low of $1.37 and a 1 year high of $5.18.

EVgo (NASDAQ:EVGO) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.03. The firm 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 quarter last year, the business earned ($0.10) earnings per share. Sell-side analysts predict that EVgo will post -0.51 earnings per share for the current fiscal 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.