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

EVgo Inc. (NASDAQ:EVGO) has been assigned an average recommendation of “Hold” from the nine brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $5.28.

A number of equities research analysts recently commented on EVGO shares. Wall Street Zen cut EVgo from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of EVgo in a research note on Wednesday, March 25th. Royal Bank Of Canada decreased their price objective on EVgo from $4.50 to $3.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Stifel Nicolaus decreased their price objective on EVgo from $7.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Finally, Cantor Fitzgerald decreased their price objective on EVgo from $7.00 to $6.00 and set an “overweight” rating for the company in a research note on Wednesday, March 4th.

EVgo Stock Up 4.8%

NASDAQ EVGO opened at $1.98 on Friday. The stock has a fifty day moving average of $2.03 and a 200-day moving average of $2.55. The stock has a market capitalization of $621.44 million, a P/E ratio of -5.66 and a beta of 2.80. EVgo has a 52 week low of $1.64 and a 52 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.

EVgo (NASDAQ:EVGO) last released its earnings results on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.02. The firm had revenue of $109.53 million during the quarter. The business’s revenue for the quarter was up 45.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.09) earnings per share. On average, equities research analysts forecast that EVgo will post -0.51 EPS for the current year.

Institutional Investors Weigh In On EVgo

Institutional investors have recently made changes to their positions in the stock. Quarry LP grew its stake in shares of EVgo by 145.0% during the fourth 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 period. Kestra Advisory Services LLC bought a new position in EVgo during the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd lifted its holdings in EVgo by 4,903.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 9,856 shares of the company’s stock worth $29,000 after acquiring an additional 9,659 shares in the last quarter. Ameriprise Financial Inc. bought a new position in EVgo during the third quarter worth about $49,000. Finally, Balyasny Asset Management L.P. bought a new position in EVgo during the fourth quarter worth about $32,000. 17.44% of the stock is 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.