JPMorgan Chase & Co. Reaffirms Neutral Rating for EVgo (NASDAQ:EVGO)

EVgo (NASDAQ:EVGO)‘s stock had its “neutral” rating reaffirmed by analysts at JPMorgan Chase & Co. in a research report issued on Wednesday, MarketBeat Ratings reports.

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

EVgo Price Performance

Shares of EVgo stock opened at $1.75 on Wednesday. The stock’s 50-day moving average is $2.66 and its 200-day moving average is $3.34. EVgo has a one year low of $1.70 and a one year high of $5.18. The firm has a market cap of $547.89 million, a price-to-earnings ratio of -5.47 and a beta of 2.63.

EVgo (NASDAQ:EVGO) last released its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.04) earnings per share 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 revenue was up 75.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.11) earnings per share. On average, equities analysts expect that EVgo will post -0.45 EPS for the current year.

Hedge Funds Weigh In On EVgo

Large investors have recently modified their holdings of the business. Quarry LP raised its position in EVgo by 145.0% during the 4th quarter. Quarry LP now owns 9,307 shares of the company’s stock worth $27,000 after purchasing an additional 5,508 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of EVgo during the 4th quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd grew its holdings in EVgo by 4,903.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 9,856 shares of the company’s stock worth $29,000 after purchasing an additional 9,659 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of EVgo in the 4th quarter valued at about $32,000. Finally, Fullerton Advisors LLC acquired a new stake in EVgo in the fourth quarter valued at approximately $36,000. Institutional investors own 17.44% of the company’s stock.

EVgo Company Profile

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.