EVgo’s (EVGO) Neutral Rating Reiterated at JPMorgan Chase & Co.

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

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

EVgo Price Performance

EVGO stock opened at $1.72 on Wednesday. The company has a market capitalization of $538.50 million, a P/E ratio of -5.38 and a beta of 2.63. EVgo has a 12 month low of $1.69 and a 12 month high of $5.18. The firm’s fifty day simple moving average is $2.64 and its 200-day simple moving average is $3.32.

EVgo (NASDAQ:EVGO) last issued its earnings results on Tuesday, March 3rd. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.10. The business had revenue of $118.47 million for the quarter. EVgo’s revenue was up 75.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.11) earnings per share. As a group, sell-side analysts forecast that EVgo will post -0.45 earnings per share for the current year.

Institutional Investors Weigh In On EVgo

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Soros Fund Management LLC lifted its holdings in EVgo by 342.2% during the second quarter. Soros Fund Management LLC now owns 4,976,983 shares of the company’s stock valued at $18,166,000 after purchasing an additional 3,851,583 shares in the last quarter. State Street Corp increased its stake in shares of EVgo by 59.3% during the fourth quarter. State Street Corp now owns 6,346,462 shares of the company’s stock worth $18,468,000 after purchasing an additional 2,362,435 shares in the last quarter. Invesco Ltd. increased its stake in shares of EVgo by 111.0% during the fourth quarter. Invesco Ltd. now owns 4,424,683 shares of the company’s stock worth $12,876,000 after purchasing an additional 2,327,545 shares in the last quarter. Millennium Management LLC raised its position in shares of EVgo by 45.3% during the 3rd quarter. Millennium Management LLC now owns 5,560,748 shares of the company’s stock worth $26,302,000 after purchasing an additional 1,734,958 shares during the last quarter. Finally, Tudor Investment Corp ET AL acquired a new position in shares of EVgo during the 3rd quarter worth about $8,165,000. 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.