EVgo (NASDAQ:EVGO) Issues Quarterly Earnings Results, Beats Expectations By $0.06 EPS

EVgo (NASDAQ:EVGO) issued its earnings results on Saturday. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.06, Briefing.com reports. During the same quarter last year, the firm posted ($0.09) earnings per share. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year.

EVgo Price Performance

Shares of EVGO remained flat at $1.75 during mid-day trading on Friday. The stock had a trading volume of 2,896,724 shares, compared to its average volume of 7,718,802. The company has a current ratio of 1.87, a quick ratio of 2.19 and a debt-to-equity ratio of 44.14. EVgo has a fifty-two week low of $0.98 and a fifty-two week high of $3.54. The firm has a market capitalization of $550.41 million, a PE ratio of -3.89 and a beta of 2.87. The firm’s 50-day moving average price is $1.38 and its 200 day moving average price is $1.87.

Analyst Upgrades and Downgrades

EVGO has been the subject of several analyst reports. Cantor Fitzgerald cut shares of EVgo from an “overweight” rating to a “hold” rating and lowered their price target for the stock from $3.00 to $2.00 in a report on Tuesday, November 3rd. Needham & Company LLC restated a “hold” rating on shares of EVgo in a report on Wednesday, August 5th. Evercore reaffirmed an “outperform” rating and set a $2.50 price objective on shares of EVgo in a research report on Monday, September 21st. JPMorgan Chase & Co. cut shares of EVgo from a “neutral” rating to an “underweight” rating in a research report on Tuesday, July 21st. Finally, Royal Bank Of Canada downgraded shares of EVgo from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $1.75 to $2.00 in a research note on Tuesday, November 10th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $2.21.

About EVgo

EVgo Inc. operates a public electric vehicle fast-charging network in the United States. Its stations primarily provide direct-current fast charging, allowing drivers to recharge compatible vehicles while traveling or during daily trips. Drivers can locate stations and manage charging sessions through EVgo’s mobile app and other vehicle and navigation platforms. The company also works with automakers, fleets, rideshare operators, utilities, and commercial property owners to develop and support charging infrastructure.