EVgo (NASDAQ:EVGO) Hits New 1-Year Low – Time to Sell?

EVgo Inc. (NASDAQ:EVGO)’s share price reached a new 52-week low on Tuesday . The company traded as low as $1.61 and last traded at $1.6450, with a volume of 593252 shares. The stock had previously closed at $1.67.

Analyst Upgrades and Downgrades

EVGO has been the topic of a number of analyst reports. Wall Street Zen downgraded EVgo from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th. Weiss Ratings restated a “sell (e+)” rating on shares of EVgo in a research note on Wednesday, July 15th. Royal Bank Of Canada dropped their price objective on EVgo from $4.50 to $3.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of EVgo in a research note on Tuesday. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.28.

EVgo Trading Down 1.3%

The company has a market capitalization of $495.90 million, a price-to-earnings ratio of -4.51 and a beta of 2.78. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 5.39. The company’s 50 day simple moving average is $1.92 and its two-hundred day simple moving average is $2.28.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its holdings in EVgo by 1,188.1% in the first quarter. AQR Capital Management LLC now owns 494,598 shares of the company’s stock worth $1,316,000 after acquiring an additional 456,201 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of EVgo by 31.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,339 shares of the company’s stock valued at $222,000 after acquiring an additional 19,883 shares in the last quarter. Millennium Management LLC increased its holdings in shares of EVgo by 25.9% during the first quarter. Millennium Management LLC now owns 5,819,392 shares of the company’s stock valued at $15,480,000 after acquiring an additional 1,195,470 shares in the last quarter. Creative Planning raised its position in shares of EVgo by 56.4% in the 2nd quarter. Creative Planning now owns 44,353 shares of the company’s stock valued at $162,000 after purchasing an additional 16,000 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in shares of EVgo by 53.0% in the 2nd quarter. Cetera Investment Advisers now owns 43,183 shares of the company’s stock valued at $158,000 after purchasing an additional 14,958 shares during the last quarter. 17.44% of the stock is owned by institutional investors and hedge funds.

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.