EVgo Inc. (NASDAQ:EVGO) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analyst sentiment is mixed: Eight brokerages rate EVgo “Hold” on average, with five buys, one hold, and two sells. The average 12-month price target is $3.65.
• EVgo shares opened at $1.52, near the lower end of their 52-week range of $1.23 to $5.18. The stock has a market capitalization of about $478 million, while institutional investors own 17.44% of shares.
• In its latest quarter, EVgo reported an adjusted loss of $0.15 per share, beating estimates for a $0.18 loss, and revenue of $82.65 million. However, revenue declined 15.7% year over year, and analysts expect a full-year loss of $0.51 per share.

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

Several equities analysts recently issued reports on EVGO shares. Royal Bank Of Canada cut their price target on shares of EVgo from $3.00 to $2.50 and set an "outperform" rating for the company in a report on Thursday, August 6th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of EVgo in a research note on Wednesday, July 15th. Needham & Company LLC reaffirmed a "hold" rating on shares of EVgo in a report on Wednesday, August 5th. 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 report on Tuesday, August 25th. Finally, Roth Capital set a $2.00 target price on shares of EVgo in a research note on Monday, August 10th.

Institutional Trading of EVgo

Hedge funds and other institutional investors have recently modified their holdings of the stock. UBS Group AG increased its stake in shares of EVgo by 83.6% in the 4th quarter. UBS Group AG now owns 1,043,689 shares of the company's stock valued at $3,037,000 after buying 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. J. Derek Lewis & Associates Inc. boosted its stake in shares of EVgo by 59.3% in the 1st quarter. J. Derek Lewis & Associates Inc. now owns 43,000 shares of the company's stock valued at $74,000 after purchasing an additional 16,000 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in EVgo in the first quarter valued at approximately $60,000. Finally, Abel Hall LLC boosted its stake in EVgo by 78.4% in the first quarter. Abel Hall LLC now owns 50,759 shares of the company's stock valued at $87,000 after acquiring an additional 22,313 shares during the last quarter. Institutional investors and hedge funds own 17.44% of the company's stock.

EVgo Price Performance

Shares of EVgo stock opened at $1.52 on Friday. The firm has a market cap of $478.07 million, a P/E ratio of -3.80 and a beta of 2.84. The firm's 50-day simple moving average is $1.53 and its 200-day simple moving average is $1.84. EVgo has a twelve month low of $1.23 and a twelve month high of $5.18. 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 (NASDAQ:EVGO - Get Free Report) last issued 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 company had revenue of $82.65 million during the quarter. The company's quarterly revenue was down 15.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.10) earnings per share. As a group, research analysts expect that EVgo will post -0.51 EPS 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.

EVgo provides charging services through its mobile app and website, which allow customers to locate stations, start charging sessions, and manage payments. The company also offers charging memberships, fleet and rideshare charging solutions, and charging software and services for commercial partners.

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