EVgo Inc. (NASDAQ:EVGO) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of EVgo Inc. (NASDAQ:EVGO) have been assigned an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $5.8167.

EVGO has been the topic of several analyst reports. Cantor Fitzgerald reissued an “overweight” rating on shares of EVgo in a research report on Monday, November 17th. Stifel Nicolaus decreased their target price on shares of EVgo from $8.00 to $7.50 and set a “buy” rating for the company in a research note on Tuesday, November 25th. Weiss Ratings restated a “sell (d-)” rating on shares of EVgo in a report on Thursday, January 22nd. Finally, UBS Group increased their price target on shares of EVgo from $5.40 to $5.90 and gave the company a “buy” rating in a research note on Tuesday, November 11th.

EVgo Price Performance

EVGO opened at $2.92 on Friday. The business’s 50-day moving average price is $3.10 and its two-hundred day moving average price is $3.62. EVgo has a 1 year low of $2.19 and a 1 year high of $5.18. The company has a market capitalization of $899.30 million, a price-to-earnings ratio of -7.49 and a beta of 2.58.

Institutional Trading of EVgo

Several institutional investors have recently added to or reduced their stakes in EVGO. AQR Capital Management LLC grew its position 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 worth $1,316,000 after purchasing an additional 456,201 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of EVgo by 31.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,339 shares of the company’s stock valued at $222,000 after buying an additional 19,883 shares in the last quarter. Millennium Management LLC boosted its stake in shares of EVgo by 25.9% in the first quarter. Millennium Management LLC now owns 5,819,392 shares of the company’s stock valued at $15,480,000 after buying an additional 1,195,470 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in EVgo by 51.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 18,695 shares of the company’s stock worth $68,000 after buying an additional 6,320 shares in the last quarter. Finally, Ethic Inc. acquired a new stake in EVgo during the second quarter worth approximately $38,000. 17.44% of the stock is currently owned by institutional investors.

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.