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

Key Points

• EVgo has a consensus “Hold” rating from nine analysts: five recommend buying, two advise holding, and two recommend selling. The average 12-month price target is $5.28.
• EVgo shares opened at $1.58, near their 52-week low of $1.41, with a market capitalization of approximately $496 million and a high debt-to-equity ratio of 5.39.
• The company reported quarterly revenue of $109.53 million, up 45.4% year over year, and an adjusted loss of $0.12 per share that beat analyst expectations of a $0.14 loss. Analysts expect a full-year loss of $0.51 per share.

EVgo Inc. (NASDAQ:EVGO - Get Free Report) has received an average rating of "Hold" from the nine ratings firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $5.28.

A number of research firms recently commented on EVGO. JPMorgan Chase & Co. reaffirmed an "underweight" rating on shares of EVgo in a research note on Tuesday, July 21st. Wall Street Zen lowered shares of EVgo from a "sell" rating to a "strong sell" rating in a research report on Saturday, May 9th. Weiss Ratings reissued a "sell (e+)" rating on shares of EVgo in a research note on Wednesday, July 15th. Finally, Royal Bank Of Canada dropped their target price on EVgo from $4.50 to $3.00 and set an "outperform" rating for the company in a research report on Wednesday, May 6th.

EVgo Stock Down 5.4%

Shares of EVGO opened at $1.58 on Friday. The company has a market cap of $495.90 million, a PE ratio of -4.51 and a beta of 2.78. The business has a fifty day moving average of $1.88 and a 200 day moving average of $2.21. EVgo has a 52-week low of $1.41 and a 52-week high of $5.18. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 5.39.

EVgo (NASDAQ:EVGO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, beating analysts' consensus estimates of ($0.14) by $0.02. The firm had revenue of $109.53 million for the quarter. During the same quarter last year, the business earned ($0.09) EPS. The firm's revenue was up 45.4% on a year-over-year basis. On average, sell-side analysts expect that EVgo will post -0.51 EPS for the current year.

Institutional Investors Weigh In On EVgo

A number of institutional investors and hedge funds have recently modified their holdings of EVGO. State Street Corp grew its holdings in shares of EVgo by 59.3% in the fourth quarter. State Street Corp now owns 6,346,462 shares of the company's stock worth $18,468,000 after purchasing an additional 2,362,435 shares during the last quarter. Invesco Ltd. lifted its holdings in EVgo by 111.0% during the 4th quarter. Invesco Ltd. now owns 4,424,683 shares of the company's stock valued at $12,876,000 after buying an additional 2,327,545 shares in the last quarter. Millennium Management LLC lifted its holdings in EVgo by 45.3% during the 3rd quarter. Millennium Management LLC now owns 5,560,748 shares of the company's stock valued at $26,302,000 after buying an additional 1,734,958 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in EVgo in the 3rd quarter valued at about $8,165,000. Finally, Pictet Asset Management Holding SA boosted its position in EVgo by 78.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,273,200 shares of the company's stock valued at $6,615,000 after buying an additional 996,815 shares during the period. 17.44% of the stock is owned by institutional investors.

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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