EVgo Inc. (NASDAQ:EVGO) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Consensus "Moderate Buy": Ten analysts cover EVgo with a consensus rating of Moderate Buy (6 buys, 3 holds, 1 sell) and an average 1‑year target price of $5.58.
• Strong quarterly delivery: EVgo reported revenue of $118.47M (up 75.5% YoY) and EPS of -$0.04, beating estimates by $0.10.
• Institutional accumulation while stock trades low: Major funds (State Street, Invesco, Millennium, Pictet) materially increased stakes and institutions own 17.44% of shares as EVgo trades around $2.19 with a market cap near $685.7M.

EVgo Inc. (NASDAQ:EVGO - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the ten ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six 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 $5.58.

A number of brokerages have commented on EVGO. Benchmark reissued a "buy" rating on shares of EVgo in a report on Monday, March 2nd. Weiss Ratings reissued a "sell (d-)" rating on shares of EVgo in a report on Thursday, January 22nd. Cantor Fitzgerald reduced their target price on EVgo from $7.00 to $6.00 and set an "overweight" rating for the company in a report on Wednesday, March 4th. Royal Bank Of Canada reduced their target price on EVgo from $7.00 to $4.50 and set an "outperform" rating for the company in a report on Wednesday, March 4th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating on shares of EVgo in a report on Wednesday, March 25th.

Hedge Funds Weigh In On EVgo

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

EVgo Trading Up 3.3%

NASDAQ EVGO opened at $2.19 on Thursday. The stock has a market capitalization of $685.65 million, a price-to-earnings ratio of -6.84 and a beta of 2.80. EVgo has a twelve month low of $1.64 and a twelve month high of $5.18. The stock has a 50-day moving average of $2.23 and a 200 day moving average of $2.99.

EVgo (NASDAQ:EVGO - Get Free Report) last released its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.14) by $0.10. The business had revenue of $118.47 million during the quarter. The company's revenue for the quarter was up 75.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.11) earnings per share. Equities analysts predict that EVgo will post -0.45 EPS for the current fiscal 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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