EVgo Inc. (NASDAQ:EVGO) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of EVgo Inc. (NASDAQ:EVGO) have received an average recommendation of “Moderate Buy” from the nine analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $5.8167.

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of EVgo in a research report on Wednesday, October 8th. Stifel Nicolaus dropped their price objective on shares of EVgo from $8.00 to $7.50 and set a “buy” rating for the company in a research note on Tuesday, November 25th. Cantor Fitzgerald reissued an “overweight” rating on shares of EVgo in a report on Monday, November 17th. Needham & Company LLC restated a “hold” rating on shares of EVgo in a research report on Tuesday, October 14th. Finally, UBS Group lifted their price target on shares of EVgo from $5.40 to $5.90 and gave the company a “buy” rating in a research report on Tuesday, November 11th.

Institutional Trading of EVgo

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of EVgo by 1.3% in the third quarter. Vanguard Group Inc. now owns 12,399,808 shares of the company’s stock worth $58,651,000 after purchasing an additional 157,376 shares during the period. Millennium Management LLC grew its stake in EVgo by 25.9% during the first quarter. Millennium Management LLC now owns 5,819,392 shares of the company’s stock worth $15,480,000 after buying an additional 1,195,470 shares in the last quarter. Soros Fund Management LLC grew its stake in EVgo by 342.2% during the second quarter. Soros Fund Management LLC now owns 4,976,983 shares of the company’s stock worth $18,166,000 after buying an additional 3,851,583 shares in the last quarter. Geode Capital Management LLC increased its holdings in EVgo by 11.1% in the 2nd quarter. Geode Capital Management LLC now owns 3,147,529 shares of the company’s stock valued at $11,490,000 after buying an additional 313,335 shares during the period. Finally, HITE Hedge Asset Management LLC raised its position in shares of EVgo by 13.8% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 2,946,791 shares of the company’s stock valued at $13,938,000 after buying an additional 356,614 shares in the last quarter. 17.44% of the stock is currently owned by institutional investors.

EVgo Stock Performance

EVgo stock opened at $3.19 on Friday. The company has a market capitalization of $982.46 million, a price-to-earnings ratio of -8.18 and a beta of 2.37. EVgo has a 12 month low of $2.19 and a 12 month high of $5.18. The stock’s 50 day moving average is $3.41 and its 200-day moving average is $3.81.

EVgo (NASDAQ:EVGO) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.09. The firm had revenue of $92.30 million for the quarter, compared to analyst estimates of $94.42 million. During the same period in the previous year, the business posted ($0.11) earnings per share. The business’s revenue for the quarter was up 36.7% on a year-over-year basis. As a group, equities research analysts predict that EVgo will post -0.45 earnings per share for the current fiscal year.

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.