EVgo (NASDAQ:EVGO) Receives Underweight Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their underweight rating on shares of EVgo (NASDAQ:EVGO) in a research note released on Tuesday,Benzinga reports.

Several other research firms have also recently weighed in on EVGO. Weiss Ratings restated a “sell (e+)” rating on shares of EVgo in a research report on Wednesday, July 15th. Wall Street Zen lowered EVgo from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 9th. Finally, Royal Bank Of Canada lowered their target price on EVgo from $4.50 to $3.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, EVgo currently has an average rating of “Hold” and a consensus target price of $5.28.

EVgo Trading Down 4.2%

EVGO opened at $1.60 on Tuesday. EVgo has a 1-year low of $1.60 and a 1-year high of $5.18. The stock has a market capitalization of $502.18 million, a PE ratio of -4.57 and a beta of 2.78. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 5.39. The firm has a 50-day moving average price of $1.93 and a two-hundred day moving average price of $2.29.

EVgo (NASDAQ:EVGO) last announced its earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. The company had revenue of $109.53 million for the quarter. During the same quarter last year, the firm earned ($0.09) EPS. The company’s quarterly revenue was up 45.4% compared to the same quarter last year. As a group, equities analysts anticipate that EVgo will post -0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EVgo

Several institutional investors have recently modified their holdings of EVGO. AQR Capital Management LLC lifted its holdings in EVgo by 1,188.1% in the first quarter. AQR Capital Management LLC now owns 494,598 shares of the company’s stock valued at $1,316,000 after buying an additional 456,201 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in EVgo by 31.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,339 shares of the company’s stock valued at $222,000 after acquiring an additional 19,883 shares during the last quarter. Millennium Management LLC grew its holdings in EVgo by 25.9% during the 1st quarter. Millennium Management LLC now owns 5,819,392 shares of the company’s stock worth $15,480,000 after acquiring an additional 1,195,470 shares during the period. Creative Planning grew its holdings in EVgo by 56.4% during the 2nd quarter. Creative Planning now owns 44,353 shares of the company’s stock worth $162,000 after acquiring an additional 16,000 shares during the period. Finally, Cetera Investment Advisers raised its position in shares of EVgo by 53.0% during the 2nd quarter. Cetera Investment Advisers now owns 43,183 shares of the company’s stock valued at $158,000 after acquiring an additional 14,958 shares during the last quarter. Institutional investors and hedge funds 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.