EVgo Inc. (NASDAQ:EVGO) Stock Has Consensus Price Target of $2.93 According to Analysts

EVgo Inc. (NASDAQ:EVGO) has been assigned a consensus recommendation of “Hold” from the nine ratings firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $2.93.

A number of analysts have recently weighed in on EVGO shares. Roth Capital set a $2.00 price target on shares of EVgo in a research note on Monday, August 10th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of EVgo in a research note on Tuesday, July 21st. Cantor Fitzgerald lowered their price objective on shares of EVgo from $4.00 to $3.00 and set an “overweight” rating on the stock in a research note on Thursday, August 6th. Stifel Nicolaus dropped their target price on EVgo from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, August 25th. Finally, Evercore restated an “outperform” rating and issued a $2.50 target price on shares of EVgo in a research report on Monday, September 21st.

Hedge Funds Weigh In On EVgo

Several hedge funds have recently modified their holdings of EVGO. State Street Corp boosted its stake in EVgo by 1.3% during the second quarter. State Street Corp now owns 6,371,895 shares of the company’s stock valued at $12,170,000 after buying an additional 80,946 shares in the last quarter. Tidal Investments LLC grew its holdings in EVgo by 2,675.5% during the second quarter. Tidal Investments LLC now owns 331,891 shares of the company’s stock worth $634,000 after acquiring an additional 319,933 shares during the period. Squarepoint Ops LLC acquired a new position in EVgo during the second quarter worth about $149,000. Kintra Wealth LLC bought a new stake in EVgo in the second quarter worth about $25,000. Finally, J. Derek Lewis & Associates Inc. raised its position in EVgo by 59.3% in the first quarter. J. Derek Lewis & Associates Inc. now owns 43,000 shares of the company’s stock worth $74,000 after acquiring an additional 16,000 shares in the last quarter. 17.44% of the stock is currently owned by institutional investors and hedge funds.

EVgo Stock Performance

EVGO stock opened at $1.07 on Thursday. The company has a market capitalization of $336.54 million, a P/E ratio of -2.67 and a beta of 2.87. The company has a 50-day simple moving average of $1.39 and a 200 day simple moving average of $1.72. EVgo has a fifty-two week low of $1.02 and a fifty-two week high of $4.46. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 5.39.

EVgo (NASDAQ:EVGO) last released its earnings results on Wednesday, August 5th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.03. The company had revenue of $82.65 million for the quarter. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.10) earnings per share. Sell-side analysts predict that EVgo will post -0.51 earnings per share for the current fiscal year.

EVgo Company Profile

EVgo, Inc operates a public electric vehicle (EV) fast-charging network in the United States. The company develops, owns, and operates charging stations designed primarily for drivers who need to recharge away from home, including at retail centers, grocery stores, parking facilities, and other convenient locations.

Through its EVgo network and mobile application, the company provides charging access, station availability and payment features, and related subscription options. EVgo also offers charging solutions for commercial fleets, rideshare drivers, businesses, utilities, automakers, and other partners.