EVgo Inc. (NASDAQ:EVGO) Receives Average Rating of “Hold” from Analysts

Shares of EVgo Inc. (NASDAQ:EVGO) have received an average rating of “Hold” from the eight research firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $3.65.

A number of research analysts have commented on the company. Royal Bank Of Canada lowered their target price on EVgo from $3.00 to $2.50 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of EVgo in a research note on Tuesday, July 21st. Wall Street Zen lowered EVgo from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th. Stifel Nicolaus lowered their price target on EVgo from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, August 25th. Finally, Cantor Fitzgerald dropped their price objective on EVgo from $4.00 to $3.00 and set an “overweight” rating on the stock in a report on Thursday, August 6th.

Institutional Trading of EVgo

Large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its holdings in shares of EVgo by 1,188.1% during the 1st quarter. AQR Capital Management LLC now owns 494,598 shares of the company’s stock valued at $1,316,000 after purchasing an additional 456,201 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of EVgo by 31.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,339 shares of the company’s stock valued at $222,000 after purchasing an additional 19,883 shares during the last quarter. Millennium Management LLC boosted its holdings in EVgo by 25.9% in the first quarter. Millennium Management LLC now owns 5,819,392 shares of the company’s stock worth $15,480,000 after purchasing an additional 1,195,470 shares in the last quarter. Creative Planning increased its position in EVgo by 56.4% during the second quarter. Creative Planning now owns 44,353 shares of the company’s stock worth $162,000 after buying an additional 16,000 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in EVgo by 53.0% during the second quarter. Cetera Investment Advisers now owns 43,183 shares of the company’s stock worth $158,000 after buying an additional 14,958 shares during the last quarter. 17.44% of the stock is owned by institutional investors.

EVgo Trading Down 5.2%

Shares of NASDAQ:EVGO opened at $1.27 on Wednesday. The firm has a fifty day moving average of $1.64 and a two-hundred day moving average of $1.96. The firm has a market capitalization of $399.44 million, a P/E ratio of -3.17 and a beta of 2.84. EVgo has a 12-month low of $1.26 and a 12-month high of $5.18. 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 posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.03. The company had revenue of $82.65 million during the quarter. During the same quarter in the previous year, the business earned ($0.10) earnings per share. The company’s revenue was down 15.7% compared to the same quarter last year. On average, equities analysts expect that EVgo will post -0.51 EPS for the current fiscal year.

About EVgo

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.