EVgo Inc. (NASDAQ:EVGO) Receives Consensus Rating of “Hold” from Brokerages

EVgo Inc. (NASDAQ:EVGO) has earned an average recommendation of “Hold” from the nine analysts that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $3.49.

A number of research firms recently commented on EVGO. Roth Capital set a $2.00 price objective on EVgo in a report on Monday, August 10th. Evercore reiterated an “outperform” rating and issued a $2.50 target price on shares of EVgo in a research note on Monday, September 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of EVgo in a research report on Wednesday, July 15th. JPMorgan Chase & Co. restated an “underweight” rating on shares of EVgo in a research note on Tuesday, July 21st. Finally, Needham & Company LLC restated a “hold” rating on shares of EVgo in a report on Wednesday, August 5th.

Hedge Funds Weigh In On EVgo

Several hedge funds have recently bought and sold shares of EVGO. State Street Corp raised its holdings in EVgo by 1.3% during the second quarter. State Street Corp now owns 6,371,895 shares of the company’s stock valued at $12,170,000 after buying an additional 80,946 shares in the last quarter. Tidal Investments LLC lifted its position in shares of EVgo by 2,675.5% in the second quarter. Tidal Investments LLC now owns 331,891 shares of the company’s stock worth $634,000 after buying an additional 319,933 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of EVgo during the 2nd quarter worth about $149,000. Kintra Wealth LLC bought a new stake in shares of EVgo during the 2nd quarter worth about $25,000. Finally, J. Derek Lewis & Associates Inc. increased its holdings in shares of EVgo by 59.3% during the 1st quarter. J. Derek Lewis & Associates Inc. now owns 43,000 shares of the company’s stock valued at $74,000 after acquiring an additional 16,000 shares during the last quarter. 17.44% of the stock is owned by institutional investors and hedge funds.

EVgo Stock Performance

Shares of NASDAQ EVGO opened at $1.38 on Friday. The business’s 50-day moving average price is $1.49 and its two-hundred day moving average price is $1.80. The company has a debt-to-equity ratio of 5.39, a current ratio of 2.19 and a quick ratio of 2.19. EVgo has a one year low of $1.23 and a one year high of $5.18. The company has a market capitalization of $434.04 million, a P/E ratio of -3.45 and a beta of 2.84.

EVgo (NASDAQ:EVGO) last issued its earnings results on Wednesday, August 5th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.03. The firm had revenue of $82.65 million during the quarter. EVgo’s revenue was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. Analysts anticipate that EVgo will post -0.51 earnings per share for the current fiscal year.

EVgo Company Profile

EVgo, Inc operates a public electric vehicle (EV) fast-charging network in the United States. The company develops, owns, and operates charging stations designed primarily for drivers who need to recharge away from home, including at retail centers, grocery stores, parking facilities, and other convenient locations.

EVgo provides charging services through its mobile app and website, which allow customers to locate stations, start charging sessions, and manage payments. The company also offers charging memberships, fleet and rideshare charging solutions, and charging software and services for commercial partners.