EVgo Inc. (NASDAQ:EVGO) Given Consensus Recommendation of “Hold” by Analysts

Shares of EVgo Inc. (NASDAQ:EVGO) have earned an average rating of “Hold” from the nine ratings firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $5.28.

Several research analysts have weighed in on EVGO shares. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of EVgo in a research note on Wednesday, March 25th. Royal Bank Of Canada reduced their target price on EVgo from $4.50 to $3.00 and set an “outperform” rating for the company in a report on Wednesday, May 6th. Finally, Wall Street Zen cut shares of EVgo from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th.

EVgo Price Performance

NASDAQ EVGO traded up $0.02 on Tuesday, reaching $1.81. 2,244,109 shares of the stock traded hands, compared to its average volume of 3,342,523. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 5.39. The company has a market cap of $568.09 million, a price-to-earnings ratio of -5.17 and a beta of 2.78. The firm’s fifty day simple moving average is $1.97 and its 200 day simple moving average is $2.36. EVgo has a 12 month low of $1.64 and a 12 month high of $5.18.

EVgo (NASDAQ:EVGO) last issued its earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. The business had revenue of $109.53 million for the quarter. During the same period last year, the firm earned ($0.09) EPS. The business’s quarterly revenue was up 45.4% compared to the same quarter last year. As a group, research analysts predict that EVgo will post -0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On EVgo

Several large investors have recently modified their holdings of EVGO. Quarry LP lifted its holdings in shares of EVgo by 145.0% during the fourth quarter. Quarry LP now owns 9,307 shares of the company’s stock valued at $27,000 after acquiring an additional 5,508 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of EVgo in the 4th quarter worth about $27,000. Caitong International Asset Management Co. Ltd increased its position in shares of EVgo by 4,903.0% during the 4th 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 in the last quarter. Balyasny Asset Management L.P. bought a new position in EVgo during the 4th quarter valued at about $32,000. Finally, Sage Investment Advisers LLC acquired a new position in EVgo in the fourth quarter valued at about $36,000. 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.