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

EVgo Inc. (NASDAQ:EVGO) has been assigned an average rating of “Moderate Buy” from the nine analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $5.8167.

A number of brokerages have commented on EVGO. UBS Group increased their price objective on shares of EVgo from $5.40 to $5.90 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of EVgo in a research note on Thursday, January 22nd. Cantor Fitzgerald restated an “overweight” rating on shares of EVgo in a research note on Monday, November 17th. Stifel Nicolaus decreased their price target on EVgo from $8.00 to $7.50 and set a “buy” rating for the company in a report on Tuesday, November 25th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a research report on Tuesday, October 14th.

EVgo Stock Up 11.0%

NASDAQ:EVGO opened at $3.23 on Friday. EVgo has a 52 week low of $2.19 and a 52 week high of $5.18. The company has a fifty day simple moving average of $3.12 and a two-hundred day simple moving average of $3.64. The company has a market cap of $994.78 million, a price-to-earnings ratio of -8.28 and a beta of 2.58.

EVgo (NASDAQ:EVGO) last released its earnings results on Monday, November 10th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.09. The company had revenue of $92.30 million during the quarter, compared to analysts’ expectations of $94.42 million. During the same quarter last year, the business posted ($0.11) earnings per share. The company’s revenue for the quarter was up 36.7% on a year-over-year basis. On average, analysts expect that EVgo will post -0.45 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of EVGO. Fullerton Advisors LLC acquired a new stake in shares of EVgo during the fourth quarter worth about $36,000. Forefront Wealth Partners LLC acquired a new position in shares of EVgo in the fourth quarter valued at approximately $37,000. Ethic Inc. purchased a new stake in shares of EVgo during the second quarter worth approximately $38,000. Banco BTG Pactual S.A. acquired a new stake in shares of EVgo during the second quarter worth $41,000. Finally, SG Americas Securities LLC acquired a new stake in shares of EVgo during the fourth quarter worth $47,000. Institutional investors and hedge funds own 17.44% of the company’s stock.

EVgo Company Profile

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.