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

EVgo Inc. (NASDAQ:EVGO) has been assigned an average recommendation of “Moderate Buy” from the nine research firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $5.8167.

Several research firms have recently issued reports on EVGO. UBS Group lifted their price target on EVgo from $5.40 to $5.90 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Weiss Ratings restated a “sell (d-)” rating on shares of EVgo in a research report on Wednesday, October 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of EVgo in a research note on Monday, November 17th. Stifel Nicolaus cut their target price on shares of EVgo from $8.00 to $7.50 and set a “buy” rating for the company in a research note on Tuesday, November 25th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a report on Tuesday, October 14th.

EVgo Trading Up 1.0%

EVGO stock opened at $3.09 on Tuesday. The firm has a 50 day moving average of $3.15 and a 200-day moving average of $3.71. The company has a market cap of $951.66 million, a price-to-earnings ratio of -7.92 and a beta of 2.38. EVgo has a 12-month low of $2.19 and a 12-month high of $5.18.

EVgo (NASDAQ:EVGO) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.09. The firm had revenue of $92.30 million during the quarter, compared to analyst estimates of $94.42 million. The business’s revenue was up 36.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.11) EPS. Sell-side analysts forecast that EVgo will post -0.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EVgo

A number of hedge funds and other institutional investors have recently made changes to their positions in EVGO. SG Americas Securities LLC purchased a new position in EVgo during the fourth quarter worth about $47,000. Tudor Investment Corp ET AL acquired a new position in EVgo during the third quarter worth approximately $8,165,000. CIBC Bancorp USA Inc. acquired a new position in EVgo during the third quarter worth approximately $65,000. Dark Forest Capital Management LP purchased a new position in EVgo during the third quarter worth approximately $55,000. Finally, PharVision Advisers LLC purchased a new position in shares of EVgo in the 3rd quarter worth $95,000. Hedge funds and other institutional investors own 17.44% of the company’s stock.

About EVgo

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.