Vanguard Group Inc. Has $30.90 Million Stake in EVgo Inc. $EVGO

Key Points

• Vanguard Group Inc. reduced its holdings in EVgo Inc. by 4.8% in Q1, now owning approximately 3.79% of the company, valued at about $30.9 million.
• EVgo reported revenue of $98.03 million in its latest quarter, surpassing analyst expectations and marking a 47.1% increase year-over-year.
• Analysts have mixed views on EVgo, with multiple "buy" ratings and a consensus target price of $6.24 per share.

Vanguard Group Inc. lessened its holdings in EVgo Inc. (NASDAQ:EVGO - Free Report) by 4.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,614,777 shares of the company's stock after selling 586,172 shares during the quarter. Vanguard Group Inc. owned 3.79% of EVgo worth $30,895,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. BIT Capital GmbH bought a new stake in EVgo in the 1st quarter valued at $59,000. XTX Topco Ltd bought a new stake in EVgo in the 1st quarter valued at $55,000. Federated Hermes Inc. bought a new stake in EVgo in the 1st quarter valued at $856,000. Inspire Advisors LLC bought a new stake in EVgo in the 1st quarter valued at $64,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in EVgo by 138.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 89,780 shares of the company's stock valued at $239,000 after buying an additional 52,130 shares during the period. Institutional investors own 17.44% of the company's stock.

EVgo Price Performance

EVGO stock traded down $0.03 during midday trading on Tuesday, reaching $3.84. The company had a trading volume of 2,463,156 shares, compared to its average volume of 4,507,671. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -9.37 and a beta of 2.34. The stock has a 50 day moving average price of $3.69 and a 200-day moving average price of $3.34. EVgo Inc. has a 1-year low of $2.19 and a 1-year 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) EPS for the quarter, beating analysts' consensus estimates 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 firm's revenue for the quarter was up 47.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.10) EPS. EVgo has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that EVgo Inc. will post -0.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EVGO. UBS Group boosted their price target on shares of EVgo from $5.00 to $5.40 and gave the company a "buy" rating in a report on Wednesday, August 20th. Roth Capital reissued a "buy" rating on shares of EVgo in a report on Wednesday, May 7th. Morgan Stanley upped 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. Finally, JPMorgan Chase & Co. reaffirmed an "overweight" rating on shares of EVgo in a research note on Thursday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, EVgo presently has a consensus rating of "Buy" and an average price target of $6.24.

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.