EVgo Inc. (NASDAQ:EVGO) Receives $5.28 Average PT from Analysts

EVgo Inc. (NASDAQ:EVGO) has earned an average recommendation of “Hold” from the nine research firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $5.28.

A number of research firms recently commented on EVGO. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of EVgo in a report on Tuesday, July 21st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of EVgo in a research note on Wednesday, July 15th. Wall Street Zen lowered shares of EVgo from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th. Finally, Royal Bank Of Canada lowered their target price on shares of EVgo from $4.50 to $3.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th.

EVgo Price Performance

Shares of EVGO stock opened at $1.61 on Friday. The company has a debt-to-equity ratio of 5.39, a current ratio of 2.07 and a quick ratio of 2.07. The company has a market capitalization of $505.31 million, a PE ratio of -4.60 and a beta of 2.82. The firm’s 50-day moving average is $1.87 and its two-hundred day moving average is $2.19. EVgo has a 12 month low of $1.41 and a 12 month high of $5.18.

EVgo (NASDAQ:EVGO) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.02. The firm had revenue of $109.53 million during the quarter. EVgo’s revenue for the quarter was up 45.4% on a year-over-year basis. During the same period last year, the business posted ($0.09) earnings per share. Analysts predict that EVgo will post -0.51 earnings per share for the current year.

Hedge Funds Weigh In On EVgo

Hedge funds have recently made changes to their positions in the stock. Quarry LP raised its position in EVgo by 145.0% in the fourth quarter. Quarry LP now owns 9,307 shares of the company’s stock valued at $27,000 after purchasing an additional 5,508 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of EVgo during the fourth quarter worth $27,000. Caitong International Asset Management Co. Ltd grew its stake in shares of EVgo by 4,903.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 9,856 shares of the company’s stock valued at $29,000 after buying an additional 9,659 shares in the last quarter. Ameriprise Financial Inc. purchased a new stake in shares of EVgo in the 3rd quarter valued at $49,000. Finally, Balyasny Asset Management L.P. acquired a new position in EVgo during the 4th quarter worth about $32,000. Hedge funds and other 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.