EVgo Inc. (NASDAQ:EVGO) Receives $5.32 Average Target Price from Brokerages

Shares of EVgo Inc. (NASDAQ:EVGO) have been assigned an average rating of “Moderate Buy” from the ten research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $5.58.

Several analysts have issued reports on the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of EVgo in a research note on Wednesday, March 25th. 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. Royal Bank Of Canada lowered their price objective on shares of EVgo from $7.00 to $4.50 and set an “outperform” rating for the company in a report on Wednesday, March 4th. Benchmark reaffirmed a “buy” rating on shares of EVgo in a report on Monday, March 2nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of EVgo in a research report on Thursday, January 22nd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Soros Fund Management LLC boosted its holdings in EVgo by 342.2% during the 2nd quarter. Soros Fund Management LLC now owns 4,976,983 shares of the company’s stock valued at $18,166,000 after acquiring an additional 3,851,583 shares during the period. State Street Corp increased its stake in EVgo by 59.3% in 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. lifted its position in EVgo by 111.0% in the fourth quarter. Invesco Ltd. now owns 4,424,683 shares of the company’s stock valued at $12,876,000 after purchasing an additional 2,327,545 shares during the last quarter. Millennium Management LLC lifted its position in EVgo by 45.3% in the third quarter. Millennium Management LLC now owns 5,560,748 shares of the company’s stock valued at $26,302,000 after purchasing an additional 1,734,958 shares during the last quarter. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of EVgo during the third quarter valued at approximately $8,165,000. 17.44% of the stock is owned by institutional investors.

EVgo Stock Up 3.6%

Shares of EVGO stock opened at $1.72 on Friday. The business has a 50-day moving average price of $2.58 and a two-hundred day moving average price of $3.28. EVgo has a 12-month low of $1.64 and a 12-month high of $5.18. The firm has a market cap of $538.50 million, a P/E ratio of -5.38 and a beta of 2.63.

EVgo (NASDAQ:EVGO) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.10. The firm had revenue of $118.47 million for the quarter. The company’s revenue was up 75.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.11) EPS. As a group, research analysts expect that EVgo will post -0.45 EPS 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.