Equities Analysts Issue Forecasts for EVgo, Inc.'s FY2024 Earnings (NYSE:EVGO)

EVgo, Inc. (NYSE:EVGO - Free Report) - Analysts at Roth Capital lifted their FY2024 earnings per share estimates for shares of EVgo in a research report issued on Wednesday, May 8th. Roth Capital analyst C. Irwin now anticipates that the company will post earnings per share of ($0.38) for the year, up from their previous forecast of ($0.39). The consensus estimate for EVgo's current full-year earnings is ($0.37) per share. Roth Capital also issued estimates for EVgo's Q4 2024 earnings at ($0.08) EPS.

A number of other analysts also recently commented on EVGO. Cantor Fitzgerald raised EVgo from a "neutral" rating to an "overweight" rating and dropped their price objective for the stock from $5.00 to $4.00 in a research note on Thursday. Evercore ISI cut their target price on EVgo from $9.00 to $8.00 and set an "outperform" rating on the stock in a research report on Thursday, March 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of EVgo in a research report on Wednesday. Royal Bank of Canada reaffirmed an "outperform" rating and set a $4.00 target price on shares of EVgo in a research report on Friday, April 5th. Finally, Citigroup cut their target price on EVgo from $3.00 to $2.00 and set a "neutral" rating on the stock in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $4.88.

EVgo Price Performance

Shares of EVGO traded down $0.13 during midday trading on Friday, reaching $1.86. The stock had a trading volume of 4,079,785 shares, compared to its average volume of 2,924,205. EVgo has a 52 week low of $1.65 and a 52 week high of $6.02. The firm's 50 day moving average price is $2.21 and its 200-day moving average price is $2.60. The company has a market capitalization of $560.83 million, a P/E ratio of -4.23 and a beta of 2.53.

EVgo (NYSE:EVGO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.09) EPS for the quarter, topping analysts' consensus estimates of ($0.11) by $0.02. The firm had revenue of $55.16 million during the quarter, compared to the consensus estimate of $52.41 million. During the same period in the prior year, the firm posted ($0.09) EPS. The firm's quarterly revenue was up 118.0% on a year-over-year basis.

Institutional Trading of EVgo

A number of institutional investors and hedge funds have recently made changes to their positions in EVGO. Wellington Management Group LLP lifted its position in shares of EVgo by 323.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,724,042 shares of the company's stock worth $9,207,000 after purchasing an additional 2,080,839 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of EVgo by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 9,501,327 shares of the company's stock worth $32,114,000 after purchasing an additional 421,704 shares during the last quarter. Capula Management Ltd acquired a new position in shares of EVgo during the 3rd quarter worth about $797,000. Dark Forest Capital Management LP lifted its position in shares of EVgo by 1,862.2% during the 3rd quarter. Dark Forest Capital Management LP now owns 244,722 shares of the company's stock worth $827,000 after purchasing an additional 232,250 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of EVgo during the 3rd quarter worth about $774,000. Institutional investors and hedge funds own 17.44% of the company's stock.

Insider Buying and Selling at EVgo

In other EVgo news, President Dennis G. Kish sold 34,717 shares of the business's stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total value of $104,151.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other EVgo news, CFO Olga Shevorenkova sold 19,363 shares of the business's stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total value of $58,089.00. Following the completion of the sale, the chief financial officer now owns 81,991 shares of the company's stock, valued at $245,973. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Dennis G. Kish sold 34,717 shares of the business's stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total value of $104,151.00. The disclosure for this sale can be found here. Insiders have sold 56,230 shares of company stock worth $167,409 over the last 90 days. 66.96% of the stock is currently owned by corporate insiders.

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.