EVgo, Inc. (NASDAQ:EVGO) Receives Consensus Recommendation of "Buy" from Analysts

Shares of EVgo, Inc. (NASDAQ:EVGO - Get Free Report) have been assigned a consensus rating of "Buy" from the thirteen brokerages that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $5.78.

EVGO has been the topic of several recent analyst reports. Stifel Nicolaus decreased their price target on EVgo from $10.00 to $8.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. UBS Group reduced their price target on shares of EVgo from $8.00 to $5.00 and set a "buy" rating on the stock in a research report on Monday, January 27th. Evercore ISI reduced their target price on EVgo from $7.00 to $4.00 and set an "outperform" rating on the stock in a report on Monday, March 31st. Roth Capital reaffirmed a "buy" rating on shares of EVgo in a report on Wednesday. Finally, Needham & Company LLC reissued a "hold" rating on shares of EVgo in a research note on Wednesday, March 5th.

Institutional Investors Weigh In On EVgo

Institutional investors and hedge funds have recently made changes to their positions in the stock. Merit Financial Group LLC bought a new stake in EVgo in the first quarter valued at approximately $31,000. Ballentine Partners LLC acquired a new position in EVgo in the first quarter valued at about $32,000. Mariner LLC bought a new stake in EVgo during the fourth quarter worth about $48,000. Teacher Retirement System of Texas acquired a new stake in EVgo during the first quarter worth about $48,000. Finally, FORA Capital LLC acquired a new stake in shares of EVgo during the 4th quarter worth approximately $56,000. Institutional investors own 17.44% of the company's stock.

EVgo Price Performance

EVgo stock opened at $3.67 on Thursday. EVgo has a 12 month low of $1.73 and a 12 month high of $9.07. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -8.74 and a beta of 2.27. The business has a 50 day moving average price of $2.66 and a two-hundred day moving average price of $4.14.

EVgo (NASDAQ:EVGO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.02. The business had revenue of $75.29 million during the quarter, compared to the consensus estimate of $70.11 million. During the same period last year, the firm earned ($0.09) EPS. The company's quarterly revenue was up 36.4% compared to the same quarter last year. On average, analysts expect that EVgo will post -0.45 earnings per share for the current fiscal year.

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.

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