EVgo Inc. (NASDAQ:EVGO) Receives Average Recommendation of “Moderate Buy” from Analysts

EVgo Inc. (NASDAQ:EVGO) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $5.8167.

Several brokerages have issued reports on EVGO. Weiss Ratings reiterated a “sell (d-)” rating on shares of EVgo in a research report on Wednesday, October 8th. Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a research report on Tuesday, October 14th. Morgan Stanley lifted their price objective on shares of EVgo from $4.00 to $4.50 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Finally, UBS Group lifted their price objective on shares of EVgo from $5.00 to $5.40 and gave the stock a “buy” rating in a report on Wednesday, August 20th.

EVgo Stock Performance

NASDAQ:EVGO opened at $3.91 on Thursday. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -9.54 and a beta of 2.35. EVgo has a 52-week low of $2.19 and a 52-week high of $8.09. The stock has a fifty day moving average of $4.31 and a 200 day moving average of $3.88.

EVgo (NASDAQ:EVGO) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. The business had revenue of $98.03 million for the quarter, compared to the consensus estimate of $86.15 million. The business’s revenue was up 47.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.10) EPS. Equities analysts forecast that EVgo will post -0.45 earnings per share for the current fiscal year.

Institutional Trading of EVgo

A number of hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. lifted its position in EVgo by 211.0% in the 3rd quarter. Federated Hermes Inc. now owns 1,003,689 shares of the company’s stock worth $4,747,000 after buying an additional 681,011 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of EVgo by 14.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 37,603 shares of the company’s stock worth $179,000 after acquiring an additional 4,732 shares during the last quarter. Inspire Investing LLC bought a new stake in shares of EVgo in the 3rd quarter worth approximately $458,000. Alpha Wealth Funds LLC bought a new stake in EVgo in the third quarter worth $172,000. Finally, Headlands Technologies LLC bought a new stake in EVgo in the second quarter worth $169,000. Institutional investors own 17.44% of the company’s stock.

EVgo Company Profile

EVgo, Inc owns and operates a direct current fast charging network for electric vehicles (EVs) in the United States. The company offers electricity directly to drivers, who access its publicly available networked chargers; original equipment manufacturer charging and related services; fleet and rideshare public charging services; and charging as a service and fleet dedicated charging services.