EVgo Inc. (NASDAQ:EVGO) Receives $5.82 Consensus Target Price from Analysts

EVgo Inc. (NASDAQ:EVGO) has earned a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $5.8167.

Several research firms have issued reports on EVGO. UBS Group boosted their price objective on shares of EVgo from $5.00 to $5.40 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Needham & Company LLC reissued a “hold” rating on shares of EVgo in a research note on Tuesday, October 14th. Morgan Stanley upped their price target on shares of EVgo from $4.00 to $4.50 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of EVgo in a report on Wednesday, October 8th.

EVgo Price Performance

Shares of NASDAQ:EVGO opened at $4.11 on Thursday. The business has a 50-day moving average of $4.31 and a two-hundred day moving average of $3.86. The firm has a market capitalization of $1.26 billion, a PE ratio of -10.02 and a beta of 2.37. EVgo has a 12 month low of $2.19 and a 12 month high of $8.42.

EVgo (NASDAQ:EVGO) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.03. The firm had revenue of $98.03 million during the quarter, compared to analyst estimates of $86.15 million. The business’s revenue for the quarter was up 47.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.10) earnings per share. EVgo has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that EVgo will post -0.45 earnings per share for the current year.

Institutional Investors Weigh In On EVgo

A number of large investors have recently modified their holdings of EVGO. Millennium Management LLC lifted its position 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 in the last quarter. Soros Fund Management LLC raised its stake in shares of 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 during the period. HITE Hedge Asset Management LLC raised its stake in shares of EVgo by 220.0% during the first quarter. HITE Hedge Asset Management LLC now owns 3,348,303 shares of the company’s stock valued at $8,906,000 after purchasing an additional 2,301,886 shares during the period. Geode Capital Management LLC lifted its position in shares of EVgo by 11.1% during the second quarter. Geode Capital Management LLC now owns 3,147,529 shares of the company’s stock worth $11,490,000 after purchasing an additional 313,335 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of EVgo by 39.4% in the first quarter. Invesco Ltd. now owns 1,826,705 shares of the company’s stock valued at $4,859,000 after purchasing an additional 516,382 shares during the period. Institutional investors and hedge funds own 17.44% of the company’s stock.

EVgo Company Profile

EVgo, Inc owns and operates a direct current fast charging network for electric vehicles (EVs) in the United States. The company offers electricity directly to drivers, who access its publicly available networked chargers; original equipment manufacturer charging and related services; fleet and rideshare public charging services; and charging as a service and fleet dedicated charging services.