EVgo Inc. (NASDAQ:EVGO) Receives Consensus Rating of "Buy" from Brokerages

Key Points

• EVgo Inc. has received an average consensus recommendation of "Buy" from twelve research firms, with a target price of $6.2375 over the next 12 months.
• The company reported a revenue increase of 47.1% year-over-year, with earnings per share coming in at ($0.10), beating analysts' estimates.
• Institutional investors have shown significant interest in EVgo, increasing their holdings and now owning 17.44% of the company's stock.

Shares of EVgo Inc. (NASDAQ:EVGO - Get Free Report) have been assigned a consensus rating of "Buy" from the twelve brokerages that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $6.2375.

EVGO has been the topic of several research reports. UBS Group boosted their price objective on shares of EVgo from $5.00 to $5.40 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Morgan Stanley boosted their price objective on shares of EVgo from $4.00 to $4.50 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th.

EVgo Stock Up 4.3%

Shares of EVGO traded up $0.17 during trading hours on Wednesday, reaching $4.11. 4,122,064 shares of the company traded hands, compared to its average volume of 3,214,743. The company's fifty day moving average price is $3.73 and its two-hundred day moving average price is $3.40. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -10.02 and a beta of 2.33. EVgo has a 12 month low of $2.19 and a 12 month high of $9.07.

EVgo (NASDAQ:EVGO - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported ($0.10) earnings per share for the quarter, beating analysts' consensus estimates of ($0.13) by $0.03. The company had revenue of $98.03 million for the quarter, compared to the consensus estimate of $86.15 million. The company's revenue for the quarter was up 47.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.10) EPS. EVgo has set its FY 2025 guidance at EPS. On average, analysts expect that EVgo will post -0.45 EPS for the current year.

Institutional Investors Weigh In On EVgo

Hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets bought a new stake in EVgo during the fourth quarter worth about $7,259,000. California State Teachers Retirement System boosted its stake in EVgo by 1,198.5% during the fourth quarter. California State Teachers Retirement System now owns 94,761 shares of the company's stock worth $384,000 after acquiring an additional 87,463 shares in the last quarter. Invesco Ltd. raised its holdings in EVgo by 39.4% in the first quarter. Invesco Ltd. now owns 1,826,705 shares of the company's stock worth $4,859,000 after buying an additional 516,382 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in EVgo by 8.8% in the fourth quarter. Nuveen Asset Management LLC now owns 2,629,785 shares of the company's stock worth $10,651,000 after buying an additional 211,820 shares during the last quarter. Finally, Nuveen LLC purchased a new position in EVgo in the first quarter worth about $3,833,000. Institutional investors own 17.44% of the company's stock.

EVgo Company Profile

EVgo, Inc owns and operates a direct current fast charging network for electric vehicles (EVs) in the United States. The company offers electricity directly to drivers, who access its publicly available networked chargers; original equipment manufacturer charging and related services; fleet and rideshare public charging services; and charging as a service and fleet dedicated charging services.