EVgo’s (EVGO) “Underweight” Rating Reiterated at JPMorgan Chase & Co.

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

EVGO has been the subject of several other reports. Wall Street Zen lowered shares of EVgo from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of EVgo in a report on Wednesday, July 15th. Finally, Royal Bank Of Canada dropped their price target on shares of EVgo from $4.50 to $3.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $5.28.

EVgo Stock Performance

NASDAQ:EVGO opened at $1.51 on Tuesday. The stock has a 50-day simple moving average of $1.92 and a two-hundred day simple moving average of $2.27. EVgo has a 52-week low of $1.51 and a 52-week high of $5.18. The company has a debt-to-equity ratio of 5.39, a quick ratio of 2.07 and a current ratio of 2.07. The firm has a market capitalization of $473.93 million, a PE ratio of -4.31 and a beta of 2.78.

EVgo (NASDAQ:EVGO) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. The company had revenue of $109.53 million during the quarter. During the same period last year, the firm posted ($0.09) EPS. The firm’s quarterly revenue was up 45.4% on a year-over-year basis. Analysts forecast that EVgo will post -0.51 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EVGO. Quarry LP grew its holdings in EVgo by 145.0% during the 4th quarter. Quarry LP now owns 9,307 shares of the company’s stock valued at $27,000 after buying an additional 5,508 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of EVgo during the fourth quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of EVgo by 4,903.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 9,856 shares of the company’s stock worth $29,000 after buying an additional 9,659 shares in the last quarter. Ameriprise Financial Inc. purchased a new position in shares of EVgo in the third quarter worth $49,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of EVgo during the fourth quarter worth $32,000. 17.44% of the stock is owned by hedge funds and other institutional investors.

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.