EVgo’s (EVGO) Underweight Rating Reaffirmed at JPMorgan Chase & Co.

EVgo (NASDAQ:EVGO)‘s stock had its “underweight” rating reissued by research analysts at JPMorgan Chase & Co. in a research note issued on Tuesday,Benzinga reports.

EVGO has been the subject of a number of other reports. Wall Street Zen cut shares of EVgo from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of EVgo in a research note on Wednesday, July 15th. Finally, Royal Bank Of Canada dropped their price objective on EVgo from $4.50 to $3.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, EVgo has an average rating of “Hold” and a consensus price target of $5.28.

EVgo Price Performance

Shares of NASDAQ:EVGO traded down $0.01 on Tuesday, reaching $1.67. 991,887 shares of the company were exchanged, compared to its average volume of 4,038,263. The company has a 50-day moving average of $1.94 and a 200-day moving average of $2.30. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 5.39. The firm has a market cap of $522.58 million, a price-to-earnings ratio of -4.76 and a beta of 2.78. EVgo has a 1-year low of $1.61 and a 1-year high of $5.18.

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

Hedge Funds Weigh In On EVgo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp raised its holdings in shares of EVgo by 59.3% in the fourth quarter. State Street Corp now owns 6,346,462 shares of the company’s stock worth $18,468,000 after acquiring an additional 2,362,435 shares during the last quarter. Invesco Ltd. increased its position in EVgo by 111.0% during the 4th quarter. Invesco Ltd. now owns 4,424,683 shares of the company’s stock worth $12,876,000 after purchasing an additional 2,327,545 shares in the last quarter. Millennium Management LLC increased its position in EVgo by 45.3% during the 3rd quarter. Millennium Management LLC now owns 5,560,748 shares of the company’s stock worth $26,302,000 after purchasing an additional 1,734,958 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in EVgo in the 3rd quarter valued at about $8,165,000. Finally, Pictet Asset Management Holding SA raised its stake in EVgo by 78.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,273,200 shares of the company’s stock valued at $6,615,000 after purchasing an additional 996,815 shares during the last quarter. Institutional investors and hedge funds 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.