EVgo Inc. (NASDAQ:EVGO) Receives Average Recommendation of “Moderate Buy” from Brokerages

EVgo Inc. (NASDAQ:EVGO) has been given an average recommendation of “Moderate Buy” by the eleven analysts that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $5.2714.

Several research firms have weighed in on EVGO. Cantor Fitzgerald decreased their price target on shares of EVgo from $7.00 to $6.00 and set an “overweight” rating for the company in a research note on Wednesday, March 4th. UBS Group increased their price objective on shares of EVgo from $5.40 to $5.90 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Weiss Ratings restated a “sell (d-)” rating on shares of EVgo in a research note on Thursday, January 22nd. Royal Bank Of Canada dropped their price target on EVgo from $7.00 to $4.50 and set an “outperform” rating on the stock in a research note on Wednesday, March 4th. Finally, Stifel Nicolaus cut their price target on EVgo from $7.50 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th.

EVgo Stock Down 3.5%

Shares of EVGO stock opened at $2.21 on Wednesday. The company has a market cap of $680.64 million, a price-to-earnings ratio of -6.91 and a beta of 2.63. EVgo has a 52 week low of $2.13 and a 52 week high of $5.18. The firm has a 50 day moving average of $2.95 and a 200-day moving average of $3.52.

EVgo (NASDAQ:EVGO) last released its earnings results on Tuesday, March 3rd. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.10. The company had revenue of $118.47 million for the quarter. The firm’s revenue for the quarter was up 75.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.11) EPS. Analysts anticipate that EVgo will post -0.45 earnings per share for the current year.

Hedge Funds Weigh In On EVgo

A number of institutional investors have recently modified their holdings of EVGO. AQR Capital Management LLC raised its stake in shares of EVgo by 1,188.1% in the first quarter. AQR Capital Management LLC now owns 494,598 shares of the company’s stock worth $1,316,000 after purchasing an additional 456,201 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in EVgo by 31.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,339 shares of the company’s stock worth $222,000 after buying an additional 19,883 shares in the last quarter. Millennium Management LLC grew its holdings in EVgo by 25.9% during the first quarter. Millennium Management LLC now owns 5,819,392 shares of the company’s stock worth $15,480,000 after buying an additional 1,195,470 shares in the last quarter. Bank of Montreal Can purchased a new stake in EVgo in the 2nd quarter valued at $54,000. Finally, Los Angeles Capital Management LLC lifted its stake in EVgo by 31.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 45,370 shares of the company’s stock valued at $166,000 after acquiring an additional 10,929 shares in the last quarter. 17.44% of the stock is owned by institutional investors and hedge funds.

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.