EVgo (NASDAQ:EVGO) Issues Quarterly Earnings Results, Beats Estimates By $0.09 EPS

EVgo (NASDAQ:EVGO) released its earnings results on Monday. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.09, Zacks reports. During the same period in the prior year, the firm posted ($0.11) earnings per share. EVgo’s quarterly revenue was up 36.7% compared to the same quarter last year. EVgo updated its FY 2025 guidance to EPS.

EVgo Stock Down 3.2%

Shares of NASDAQ:EVGO traded down $0.11 on Monday, hitting $3.31. The company had a trading volume of 1,683,714 shares, compared to its average volume of 4,340,065. The firm’s 50-day simple moving average is $4.28 and its two-hundred day simple moving average is $3.91. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -8.07 and a beta of 2.35. EVgo has a 1 year low of $2.19 and a 1 year high of $7.15.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in EVGO. Vanguard Group Inc. lifted its stake in shares of EVgo by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 12,399,808 shares of the company’s stock valued at $58,651,000 after purchasing an additional 157,376 shares during the period. Headlands Technologies LLC bought a new position in EVgo in the second quarter worth $169,000. Ewing Morris & Co. Investment Partners Ltd. purchased a new position in EVgo during the second quarter valued at $1,533,000. Rafferty Asset Management LLC boosted its holdings in shares of EVgo by 219.2% during the 2nd quarter. Rafferty Asset Management LLC now owns 112,193 shares of the company’s stock valued at $410,000 after buying an additional 77,042 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of EVgo by 5.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,147,815 shares of the company’s stock worth $4,190,000 after buying an additional 58,676 shares during the period. Hedge funds and other institutional investors own 17.44% of the company’s stock.

Wall Street Analyst Weigh In

EVGO has been the topic of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of EVgo in a report on Wednesday, October 8th. Needham & Company LLC reissued a “hold” rating on shares of EVgo in a research note on Tuesday, October 14th. Morgan Stanley boosted their price objective on shares of EVgo from $4.00 to $4.50 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Finally, UBS Group increased their target price on shares of EVgo from $5.00 to $5.40 and gave the company a “buy” rating in a report on Wednesday, August 20th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, EVgo has a consensus rating of “Moderate Buy” and a consensus target price of $5.82.

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.