EVgo (NASDAQ:EVGO) Stock Price Up 6.7% – What’s Next?

EVgo Inc. (NASDAQ:EVGO) traded up 6.7% during mid-day trading on Monday . The stock traded as high as $1.82 and last traded at $1.8250. 1,517,458 shares were traded during mid-day trading, a decline of 64% from the average session volume of 4,211,421 shares. The stock had previously closed at $1.71.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EVGO. Benchmark reissued a “buy” rating on shares of EVgo in a report on Monday, March 2nd. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of EVgo in a research report on Wednesday, March 25th. Cantor Fitzgerald reduced 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. Stifel Nicolaus decreased their price objective on EVgo from $7.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Finally, Royal Bank Of Canada lowered their target price on shares of EVgo from $7.00 to $4.50 and set an “outperform” rating on the stock in a research report on Wednesday, March 4th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.58.

EVgo Price Performance

The firm’s 50 day moving average price is $2.50 and its two-hundred day moving average price is $3.22. The firm has a market cap of $580.76 million, a price-to-earnings ratio of -5.80 and a beta of 2.80.

EVgo (NASDAQ:EVGO) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.10. The company had revenue of $118.47 million during the quarter. The firm’s revenue for the quarter was up 75.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.11) EPS. On average, analysts anticipate that EVgo Inc. will post -0.45 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional 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 worth $27,000 after purchasing an additional 5,508 shares during the period. Kestra Advisory Services LLC purchased a new position in EVgo during the 4th quarter worth $27,000. Caitong International Asset Management Co. Ltd raised its position in 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 buying an additional 9,659 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of EVgo in the 4th quarter worth $32,000. Finally, Fullerton Advisors LLC acquired a new stake in shares of EVgo in the 4th quarter worth $36,000. Institutional investors and hedge funds own 17.44% of the company’s stock.

EVgo Company Profile

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.