EVgo Inc. (NASDAQ:EVGO) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of EVgo Inc. (NASDAQ:EVGO) have been assigned an average rating of “Moderate Buy” from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $5.90.

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of EVgo in a research report on Monday, November 17th. UBS Group increased their price objective on EVgo from $5.40 to $5.90 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Needham & Company LLC restated a “hold” rating on shares of EVgo in a research note on Tuesday, October 14th. Morgan Stanley upped their target price on EVgo from $4.00 to $4.50 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of EVgo in a report on Wednesday, October 8th.

EVgo Trading Up 4.3%

Shares of EVGO stock opened at $2.92 on Monday. The company has a market capitalization of $899.30 million, a price-to-earnings ratio of -7.49 and a beta of 2.35. EVgo has a 1-year low of $2.19 and a 1-year high of $7.15. The stock’s fifty day simple moving average is $4.10 and its 200-day simple moving average is $3.91.

EVgo (NASDAQ:EVGO) last issued its earnings results on Monday, November 10th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.09. The business had revenue of $92.30 million during the quarter, compared to analyst estimates of $94.42 million. EVgo’s revenue for the quarter was up 36.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.11) EPS. EVgo has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that EVgo will post -0.45 EPS for the current year.

Institutional Trading of EVgo

Large investors have recently added to or reduced their stakes in the business. Summit Securities Group LLC acquired a new position in shares of EVgo during the 1st quarter worth $30,000. Hsbc Holdings PLC bought a new position in EVgo during the first quarter valued at about $38,000. Ethic Inc. acquired a new stake in shares of EVgo in the second quarter worth about $38,000. Banco BTG Pactual S.A. bought a new stake in shares of EVgo during the 2nd quarter worth about $41,000. Finally, CacheTech Inc. acquired a new position in shares of EVgo during the 1st quarter valued at about $46,000. 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.