Analysts Set EVgo Inc. (NASDAQ:EVGO) PT at $6.19

Key Points

• EVgo Inc. has received an average recommendation of "Buy" from twelve analysts, with a target price of $6.1875 for its stock.
• Despite reporting a loss of ($0.10) earnings per share, EVgo's revenue for the quarter increased by 47.1% year-over-year, surpassing analyst expectations.
• In recent insider activity, President Dennis G. Kish sold over 73,000 shares of the company's stock, reducing his ownership by more than 50%.

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

Several research analysts have recently weighed in on the stock. Roth Capital reaffirmed a "buy" rating on shares of EVgo in a report on Wednesday, May 7th. Morgan Stanley upped their price target on shares of EVgo from $4.00 to $4.50 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. UBS Group upped their price target on shares of EVgo from $5.00 to $5.40 and gave the stock a "buy" rating in a report on Wednesday. Finally, JPMorgan Chase & Co. reaffirmed an "overweight" rating on shares of EVgo in a report on Thursday, May 8th.

EVgo Trading Down 3.2%

Shares of EVgo stock traded down $0.13 during trading on Friday, hitting $3.95. The stock had a trading volume of 2,792,217 shares, compared to its average volume of 4,931,453. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -9.63 and a beta of 2.33. EVgo has a 12 month low of $2.19 and a 12 month high of $9.07. The business's 50-day moving average is $3.74 and its 200 day moving average is $3.29.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. increased its stake in EVgo by 27.8% in the second quarter. Ameritas Investment Partners Inc. now owns 13,089 shares of the company's stock valued at $48,000 after acquiring an additional 2,847 shares during the last quarter. Rhumbline Advisers increased its stake in EVgo by 2.5% in the first quarter. Rhumbline Advisers now owns 152,281 shares of the company's stock valued at $405,000 after acquiring an additional 3,740 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in EVgo by 5.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 86,588 shares of the company's stock valued at $351,000 after acquiring an additional 4,597 shares during the last quarter. Arizona State Retirement System increased its stake in EVgo by 20.1% in the first quarter. Arizona State Retirement System now owns 35,481 shares of the company's stock valued at $94,000 after acquiring an additional 5,945 shares during the last quarter. Finally, Paloma Partners Management Co increased its stake in EVgo by 25.0% in the fourth quarter. Paloma Partners Management Co now owns 30,000 shares of the company's stock valued at $122,000 after acquiring an additional 5,993 shares during the last quarter. Institutional investors own 17.44% of the company's stock.

About EVgo

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.