Brokerages Set EVgo Inc. (NASDAQ:EVGO) PT at $3.65

Shares of EVgo Inc. (NASDAQ:EVGO) have been given a consensus recommendation of “Hold” by the eight analysts that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $3.65.

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. restated an “underweight” rating on shares of EVgo in a research report on Tuesday, July 21st. Wall Street Zen lowered EVgo from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 9th. Cantor Fitzgerald decreased their target price on EVgo from $4.00 to $3.00 and set an “overweight” rating on the stock in a report on Thursday, August 6th. Needham & Company LLC restated a “hold” rating on shares of EVgo in a research note on Wednesday, August 5th. Finally, Royal Bank Of Canada cut their price target on EVgo from $3.00 to $2.50 and set an “outperform” rating for the company in a report on Thursday, August 6th.

EVgo Stock Down 3.8%

Shares of NASDAQ:EVGO opened at $1.38 on Wednesday. The company’s fifty day moving average is $1.66 and its 200-day moving average is $2.00. The company has a debt-to-equity ratio of 5.39, a quick ratio of 2.19 and a current ratio of 2.19. EVgo has a 52 week low of $1.37 and a 52 week high of $5.18. The company has a market capitalization of $434.04 million, a PE ratio of -3.45 and a beta of 2.82.

EVgo (NASDAQ:EVGO) last announced its earnings results on Wednesday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.03. The firm had revenue of $82.65 million for the quarter. The firm’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.10) EPS. Equities research analysts predict that EVgo will post -0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Pictet Asset Management Holding SA increased its position in EVgo by 78.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,273,200 shares of the company’s stock worth $6,615,000 after purchasing an additional 996,815 shares during the period. UBS Group AG lifted its position in EVgo by 83.6% during the 4th quarter. UBS Group AG now owns 1,043,689 shares of the company’s stock valued at $3,037,000 after purchasing an additional 475,092 shares during the period. Lazard Asset Management LLC lifted its position in EVgo by 89.4% during the 1st quarter. Lazard Asset Management LLC now owns 652,657 shares of the company’s stock valued at $1,123,000 after purchasing an additional 307,984 shares during the period. Fullerton Advisors LLC bought a new position in shares of EVgo in the 4th quarter valued at about $36,000. Finally, Inspire Investing LLC grew its position in shares of EVgo by 84.6% during the 1st quarter. Inspire Investing LLC now owns 298,926 shares of the company’s stock worth $514,000 after buying an additional 136,960 shares during the period. 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.