EVgo Inc. (NASDAQ:EVGO) Stock Has Consensus Price Target of $2.93

Shares of EVgo Inc. (NASDAQ:EVGO) have earned an average recommendation of “Hold” from the nine research firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $2.93.

Several equities research analysts have recently commented on EVGO shares. Evercore reaffirmed an “outperform” rating and issued a $2.50 target price on shares of EVgo in a research report on Monday, September 21st. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of EVgo in a research report on Tuesday, July 21st. Weiss Ratings upgraded shares of EVgo from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, October 6th. Royal Bank Of Canada decreased their price target on shares of EVgo from $3.00 to $2.50 and set an “outperform” rating for the company in a research note on Thursday, August 6th. Finally, Cantor Fitzgerald decreased their price target on shares of EVgo from $4.00 to $3.00 and set an “overweight” rating for the company in a research note on Thursday, August 6th.

EVgo Stock Performance

Shares of EVGO stock opened at $1.06 on Thursday. The stock has a fifty day moving average of $1.38 and a 200 day moving average of $1.72. EVgo has a 52 week low of $1.02 and a 52 week high of $4.46. The firm has a market capitalization of $333.39 million, a price-to-earnings ratio of -2.65 and a beta of 2.87. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 5.39.

EVgo (NASDAQ:EVGO) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.03. The company had revenue of $82.65 million for the quarter. The company’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. As a group, research analysts expect that EVgo will post -0.51 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in EVGO. Kintra Wealth LLC bought a new stake in shares of EVgo during the second quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd grew its stake in EVgo by 9,108.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 18,141 shares of the company’s stock worth $53,000 after purchasing an additional 17,944 shares during the period. Y Intercept Hong Kong Ltd bought a new position in EVgo in the first quarter worth $60,000. Royal Bank of Canada raised its holdings in EVgo by 94.4% in the first quarter. Royal Bank of Canada now owns 41,038 shares of the company’s stock worth $70,000 after purchasing an additional 19,929 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in EVgo by 46.3% in the first quarter. Cetera Investment Advisers now owns 42,683 shares of the company’s stock worth $73,000 after purchasing an additional 13,499 shares in the last quarter. Hedge funds and other institutional investors own 17.44% of the company’s stock.

EVgo Company Profile

EVgo, Inc operates a public electric vehicle (EV) fast-charging network in the United States. The company develops, owns, and operates charging stations designed primarily for drivers who need to recharge away from home, including at retail centers, grocery stores, parking facilities, and other convenient locations.

Through its EVgo network and mobile application, the company provides charging access, station availability and payment features, and related subscription options. EVgo also offers charging solutions for commercial fleets, rideshare drivers, businesses, utilities, automakers, and other partners.