UBS Group Issues Positive Forecast for EVgo (NASDAQ:EVGO) Stock Price

EVgo (NASDAQ:EVGO) had its target price hoisted by UBS Group from $5.00 to $5.40 in a research note published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages also recently weighed in on EVGO. Morgan Stanley upped their price target on EVgo from $4.00 to $4.50 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Roth Capital restated a “buy” rating on shares of EVgo in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. restated an “overweight” rating on shares of EVgo in a report on Thursday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $6.24.

EVgo Trading Up 5.2%

EVGO stock opened at $4.04 on Wednesday. The company has a market capitalization of $1.24 billion, a PE ratio of -9.85 and a beta of 2.33. EVgo has a 12-month low of $2.19 and a 12-month high of $9.07. The business’s fifty day moving average price is $3.72 and its 200 day moving average price is $3.29.

EVgo (NASDAQ:EVGO) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.03. The firm had revenue of $98.03 million during the quarter, compared to analysts’ expectations of $86.15 million. During the same quarter in the prior year, the firm posted ($0.10) EPS. EVgo’s quarterly revenue was up 47.1% compared to the same quarter last year. EVgo has set its FY 2025 guidance at EPS. Research analysts predict that EVgo will post -0.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EVGO. Geode Capital Management LLC boosted its position in shares of EVgo by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 2,432,183 shares of the company’s stock worth $9,853,000 after acquiring an additional 12,320 shares in the last quarter. Legal & General Group Plc boosted its position in shares of EVgo by 1,081.4% during the 4th quarter. Legal & General Group Plc now owns 103,681 shares of the company’s stock worth $420,000 after acquiring an additional 94,905 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of EVgo by 5,576.8% in the 4th quarter. Renaissance Technologies LLC now owns 669,861 shares of the company’s stock valued at $2,713,000 after purchasing an additional 658,061 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of EVgo in the 4th quarter valued at about $80,000. Finally, Barclays PLC boosted its position in shares of EVgo by 138.0% in the 4th quarter. Barclays PLC now owns 316,538 shares of the company’s stock valued at $1,282,000 after purchasing an additional 183,557 shares during the period. 17.44% of the stock is owned by institutional investors and hedge funds.

EVgo Company Profile

EVgo, Inc owns and operates a direct current fast charging network for electric vehicles (EVs) in the United States. The company offers electricity directly to drivers, who access its publicly available networked chargers; original equipment manufacturer charging and related services; fleet and rideshare public charging services; and charging as a service and fleet dedicated charging services.