EVgo’s (EVGO) “Neutral” Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their neutral rating on shares of EVgo (NASDAQ:EVGO) in a research report report published on Wednesday, MarketBeat reports.

Several other analysts also recently issued reports on EVGO. Stifel Nicolaus reduced their price target on shares of EVgo from $7.50 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Cantor Fitzgerald cut their price objective on EVgo from $7.00 to $6.00 and set an “overweight” rating for the company in a research report on Wednesday, March 4th. Royal Bank Of Canada reduced their target price on EVgo from $7.00 to $4.50 and set an “outperform” rating on the stock in a research note on Wednesday, March 4th. Benchmark reiterated a “buy” rating on shares of EVgo in a report on Monday, March 2nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of EVgo in a research report on Thursday, January 22nd. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $5.32.

EVgo Stock Down 3.2%

Shares of EVGO stock opened at $1.81 on Wednesday. The stock has a market cap of $566.67 million, a P/E ratio of -5.66 and a beta of 2.63. EVgo has a fifty-two week low of $1.80 and a fifty-two week high of $5.18. The business has a fifty day simple moving average of $2.69 and a 200-day simple moving average of $3.35.

EVgo (NASDAQ:EVGO) last released its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.10. The business had revenue of $118.47 million during the quarter. The firm’s quarterly revenue was up 75.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.11) EPS. On average, sell-side analysts anticipate that EVgo will post -0.45 earnings per share for the current year.

Hedge Funds Weigh In On EVgo

Several institutional investors and hedge funds have recently modified their holdings of EVGO. Quarry LP boosted its position in EVgo by 145.0% during the fourth quarter. Quarry LP now owns 9,307 shares of the company’s stock worth $27,000 after acquiring an additional 5,508 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in EVgo in the 4th quarter valued at $27,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of EVgo by 4,903.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 9,856 shares of the company’s stock worth $29,000 after purchasing an additional 9,659 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of EVgo during the fourth quarter worth $32,000. Finally, Fullerton Advisors LLC acquired a new stake in shares of EVgo during the fourth quarter worth $36,000. Hedge funds and other institutional investors 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.