EVgo (NASDAQ:EVGO) Earns Neutral Rating from JPMorgan Chase & Co.

EVgo (NASDAQ:EVGO)‘s stock had its “neutral” rating reaffirmed by JPMorgan Chase & Co. in a research note issued on Wednesday, Marketbeat.com reports.

EVGO has been the topic of a number of other research reports. Royal Bank Of Canada reduced their price target on EVgo from $7.00 to $4.50 and set an “outperform” rating on the stock in a research report on Wednesday, March 4th. Stifel Nicolaus cut their target price on shares of EVgo from $7.50 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Cantor Fitzgerald reduced their target price on shares of EVgo from $7.00 to $6.00 and set an “overweight” rating on the stock in a report on Wednesday, March 4th. Benchmark reiterated a “buy” rating on shares of EVgo in a research note on Monday, March 2nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of EVgo in a research report on Thursday, January 22nd. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.32.

EVgo Trading Down 4.6%

Shares of NASDAQ:EVGO opened at $1.87 on Wednesday. The company has a market capitalization of $585.46 million, a price-to-earnings ratio of -5.84 and a beta of 2.63. EVgo has a 12-month low of $1.84 and a 12-month high of $5.18. The business has a 50-day moving average price of $2.72 and a 200 day moving average price of $3.36.

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

Institutional Investors Weigh In On EVgo

Hedge funds and other institutional investors have recently bought and sold shares of the stock. J. Derek Lewis & Associates Inc. purchased a new stake in EVgo in the fourth quarter valued at $79,000. Hsbc Holdings PLC purchased a new position in shares of EVgo during the fourth quarter worth about $64,000. Caitong International Asset Management Co. Ltd increased its position in shares of EVgo by 9,108.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 18,141 shares of the company’s stock worth $53,000 after purchasing an additional 17,944 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of EVgo during the fourth quarter worth about $137,000. Finally, Invesco Ltd. lifted its holdings in shares of EVgo by 111.0% in the 4th quarter. Invesco Ltd. now owns 4,424,683 shares of the company’s stock valued at $12,876,000 after purchasing an additional 2,327,545 shares during the last quarter. 17.44% of the stock is currently owned by institutional investors and hedge funds.

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.