EVgo (NASDAQ:EVGO) Given Neutral Rating at JPMorgan Chase & Co.

Key Points

• JPMorgan restated a neutral rating on EVgo, while overall analyst coverage is mixed—seven Buys, three Holds and one Sell—with a consensus price target of $5.32 and several firms trimming targets recently.
• EVgo reported Q4 revenue of $118.47M (up 75.5% YoY) and EPS of ($0.04) that beat estimates by $0.10, yet the stock trades near $1.87 with a negative P/E and a market cap of about $585M.

EVgo (NASDAQ:EVGO - Get Free Report)'s stock had its "neutral" rating restated by stock analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Wednesday, MarketBeat reports.

A number of other equities research analysts have also commented on EVGO. Cantor Fitzgerald dropped their target price on EVgo from $7.00 to $6.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 4th. Weiss Ratings restated a "sell (d-)" rating on shares of EVgo in a research note on Thursday, January 22nd. Stifel Nicolaus dropped their price objective on shares of EVgo from $7.50 to $7.00 and set a "buy" rating on the stock in a report on Wednesday, March 4th. Benchmark reiterated a "buy" rating on shares of EVgo in a research note on Monday, March 2nd. Finally, Royal Bank Of Canada decreased their target price on shares of EVgo from $7.00 to $4.50 and set an "outperform" rating for the company in a research report on Wednesday, March 4th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $5.32.

EVgo Stock Performance

NASDAQ:EVGO opened at $1.87 on Wednesday. EVgo has a fifty-two week low of $1.84 and a fifty-two week high of $5.18. The stock has a market capitalization of $585.46 million, a P/E ratio of -5.84 and a beta of 2.63. The company's 50-day simple moving average is $2.72 and its 200-day simple moving average is $3.36.

EVgo (NASDAQ:EVGO - Get Free Report) last posted its quarterly earnings data 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. EVgo's quarterly revenue was up 75.5% on a year-over-year basis. During the same period last year, the firm earned ($0.11) earnings per share. On average, research analysts forecast that EVgo will post -0.45 EPS for the current year.

Institutional Investors Weigh In On EVgo

Large investors have recently bought and sold shares of the company. Quarry LP raised its holdings in EVgo by 145.0% in the 4th quarter. Quarry LP now owns 9,307 shares of the company's stock valued at $27,000 after acquiring an additional 5,508 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of EVgo during the 4th quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd grew its position in shares of EVgo by 4,903.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 9,856 shares of the company's stock valued at $29,000 after purchasing an additional 9,659 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of EVgo in the fourth quarter valued at approximately $32,000. Finally, Fullerton Advisors LLC acquired a new stake in shares of EVgo in the fourth quarter valued at approximately $36,000. 17.44% of the stock is currently owned by hedge funds and other institutional investors.

EVgo Company Profile

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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