EVgo's (EVGO) Sell (D-) Rating Reiterated at Weiss Ratings

Key Points

• EVgo's stock rating has been reaffirmed as "sell (D-)" by Weiss Ratings, indicating potential concerns in the company's performance.
• The consensus price target for EVgo is set at $5.82, with a mix of ratings from analysts, including one Strong Buy, six Buy, two Hold, and one Sell.
• EVgo's quarterly earnings reported a 47.1% year-over-year increase in revenue, with earnings per share topping estimates, though the stock has faced mixed analyst opinions recently.

EVgo (NASDAQ:EVGO - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by equities research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

EVGO has been the topic of several other reports. UBS Group lifted their target price on shares of EVgo from $5.00 to $5.40 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Morgan Stanley lifted their target price on shares of EVgo from $4.00 to $4.50 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $5.82.

EVgo Price Performance

NASDAQ EVGO opened at $4.71 on Wednesday. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -11.49 and a beta of 2.37. The company's fifty day moving average is $4.12 and its two-hundred day moving average is $3.65. EVgo has a 52-week low of $2.19 and a 52-week high of $9.07.

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

Hedge Funds Weigh In On EVgo

Institutional investors have recently modified their holdings of the stock. Invesco Ltd. raised its stake in shares of 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 acquiring an additional 516,382 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of EVgo by 1,198.5% in 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 during the last quarter. Nuveen LLC bought a new position in shares of EVgo in the first quarter worth about $3,833,000. Federated Hermes Inc. bought a new position in shares of EVgo in the first quarter worth about $856,000. Finally, SG Americas Securities LLC bought a new position in shares of EVgo in the first quarter worth about $324,000. 17.44% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.