EVgo Inc. (NASDAQ:EVGO) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• EVgo has a consensus “Hold” rating from eight analysts, with five buys, one hold and two sells. The average 12-month price target is $3.65, compared with the stock’s recent price of $1.49.
• Recent analyst actions were mixed but generally cautious: Stifel, RBC and Cantor Fitzgerald reduced their price targets, while maintaining buy-equivalent ratings; Wall Street Zen downgraded the stock to “strong sell.”
• EVgo’s latest quarter beat EPS expectations, reporting a $0.15 loss versus the expected $0.18 loss, but revenue fell 15.7% year over year to $82.65 million. Hedge funds and institutional investors own 17.44% of the company.

EVgo Inc. (NASDAQ:EVGO - Get Free Report) has been assigned a consensus rating of "Hold" from the eight brokerages that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $3.65.

EVGO has been the subject of a number of research reports. Stifel Nicolaus lowered their price objective on shares of EVgo from $7.00 to $6.00 and set a "buy" rating for the company in a research note on Tuesday. Royal Bank Of Canada cut their target price on shares of EVgo from $3.00 to $2.50 and set an "outperform" rating on the stock in a research report on Thursday, August 6th. Morgan Stanley set a $2.50 price target on shares of EVgo in a report on Thursday, August 6th. Cantor Fitzgerald lowered their price target on shares of EVgo from $4.00 to $3.00 and set an "overweight" rating for the company in a research report on Thursday, August 6th. Finally, Wall Street Zen downgraded shares of EVgo from a "sell" rating to a "strong sell" rating in a research note on Saturday, May 9th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Kintra Wealth LLC purchased a new stake in shares of EVgo during the 2nd quarter worth $25,000. Quarry LP grew its stake in EVgo by 145.0% in the fourth quarter. Quarry LP now owns 9,307 shares of the company's stock valued at $27,000 after purchasing an additional 5,508 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in EVgo in the fourth quarter valued at about $27,000. Caitong International Asset Management Co. Ltd raised its holdings in EVgo by 4,903.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 9,856 shares of the company's stock worth $29,000 after purchasing an additional 9,659 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in EVgo in the fourth quarter worth about $32,000. 17.44% of the stock is currently owned by hedge funds and other institutional investors.

EVgo Trading Up 0.7%

EVGO opened at $1.49 on Wednesday. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 5.39. The stock's fifty day moving average is $1.69 and its two-hundred day moving average is $2.02. The company has a market capitalization of $468.63 million, a P/E ratio of -3.72 and a beta of 2.82. EVgo has a 52 week low of $1.40 and a 52 week high of $5.18.

EVgo (NASDAQ:EVGO - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.03. The firm had revenue of $82.65 million during the quarter. The company's revenue for the quarter was down 15.7% on a year-over-year basis. During the same period last year, the company earned ($0.10) EPS. Analysts forecast that EVgo will post -0.5 earnings per share for the current 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.

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