EVgo (NASDAQ:EVGO) Earns “Underweight” Rating from JPMorgan Chase & Co.

EVgo (NASDAQ:EVGO)‘s stock had its “underweight” rating reaffirmed by investment analysts at JPMorgan Chase & Co. in a research note issued to investors on Tuesday,Benzinga reports.

EVGO has been the topic of several other research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of EVgo in a report on Wednesday, July 15th. Royal Bank Of Canada lowered 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 downgraded EVgo from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 9th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $5.28.

EVgo Stock Performance

NASDAQ:EVGO opened at $1.58 on Tuesday. EVgo has a fifty-two week low of $1.52 and a fifty-two week high of $5.18. The company has a debt-to-equity ratio of 5.39, a quick ratio of 2.07 and a current ratio of 2.07. The company has a 50 day moving average price of $1.92 and a 200 day moving average price of $2.28. The stock has a market capitalization of $495.90 million, a P/E ratio of -4.51 and a beta of 2.78.

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

Institutional Trading of EVgo

Large investors have recently modified their holdings of the stock. State Street Corp raised its position in EVgo by 59.3% in the 4th quarter. State Street Corp now owns 6,346,462 shares of the company’s stock valued at $18,468,000 after purchasing an additional 2,362,435 shares in the last quarter. Invesco Ltd. grew its position in shares of EVgo by 111.0% during the fourth quarter. Invesco Ltd. now owns 4,424,683 shares of the company’s stock worth $12,876,000 after buying an additional 2,327,545 shares in the last quarter. Millennium Management LLC increased its stake in shares of EVgo by 45.3% during the third quarter. Millennium Management LLC now owns 5,560,748 shares of the company’s stock worth $26,302,000 after buying an additional 1,734,958 shares during the period. Tudor Investment Corp ET AL acquired a new stake in EVgo in the third quarter valued at approximately $8,165,000. Finally, Pictet Asset Management Holding SA lifted its stake in EVgo by 78.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,273,200 shares of the company’s stock worth $6,615,000 after acquiring an additional 996,815 shares during the last quarter. Hedge funds and other institutional investors own 17.44% of the company’s stock.

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.