EVgo Inc. (NASDAQ:EVGO) Given Consensus Rating of “Hold” by Brokerages

Shares of EVgo Inc. (NASDAQ:EVGO) have earned a consensus recommendation of “Hold” from the nine brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $5.28.

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada cut their target price on EVgo from $4.50 to $3.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of EVgo in a report on Wednesday, March 25th. Finally, Wall Street Zen cut EVgo from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 9th.

EVgo Stock Performance

Shares of EVGO stock traded down $0.14 during mid-day trading on Tuesday, hitting $1.82. The stock had a trading volume of 363,255 shares, compared to its average volume of 4,124,179. The firm has a market cap of $572.79 million, a PE ratio of -5.24 and a beta of 2.78. The company’s 50-day simple moving average is $2.00 and its 200-day simple moving average is $2.39. The company has a debt-to-equity ratio of 5.39, a current ratio of 2.07 and a quick ratio of 2.07. EVgo has a fifty-two week low of $1.64 and a fifty-two week high of $5.18.

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

Hedge Funds Weigh In On EVgo

A number of large investors have recently made changes to their positions in the stock. Quarry LP lifted its position in shares of 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 acquiring an additional 5,508 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in EVgo in the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd raised its stake in EVgo by 4,903.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 9,856 shares of the company’s stock valued at $29,000 after purchasing an additional 9,659 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in EVgo in the 4th quarter valued at about $32,000. Finally, Sage Investment Advisers LLC acquired a new stake in shares of EVgo during the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 17.44% of the company’s stock.

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.