EVgo (NASDAQ:EVGO) Stock Price Up 6.7% – What’s Next?

EVgo Inc. (NASDAQ:EVGO) traded up 6.7% during trading on Monday . The stock traded as high as $1.82 and last traded at $1.8250. 1,517,458 shares traded hands during trading, a decline of 64% from the average session volume of 4,211,421 shares. The stock had previously closed at $1.71.

Analyst Ratings Changes

EVGO has been the subject of a number of analyst reports. Cantor Fitzgerald dropped their price objective on shares of EVgo from $7.00 to $6.00 and set an “overweight” rating for the company in a report on Wednesday, March 4th. Royal Bank Of Canada decreased their target price on shares of EVgo from $7.00 to $4.50 and set an “outperform” rating on the stock in a report on Wednesday, March 4th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of EVgo in a research note on Wednesday, March 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EVgo in a research report on Thursday, January 22nd. Finally, Benchmark reiterated a “buy” rating on shares of EVgo in a report on Monday, March 2nd. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, EVgo presently has an average rating of “Moderate Buy” and an average target price of $5.58.

EVgo Trading Up 8.5%

The firm has a market capitalization of $580.76 million, a price-to-earnings ratio of -5.80 and a beta of 2.80. The stock’s fifty day moving average price is $2.50 and its two-hundred day moving average price is $3.22.

EVgo (NASDAQ:EVGO) last posted its earnings results on Tuesday, March 3rd. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.10. The business had revenue of $118.47 million during the quarter. EVgo’s revenue was up 75.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.11) earnings per share. Analysts anticipate that EVgo Inc. will post -0.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On EVgo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its holdings in EVgo by 1,188.1% during the first quarter. AQR Capital Management LLC now owns 494,598 shares of the company’s stock worth $1,316,000 after purchasing an additional 456,201 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of EVgo by 31.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,339 shares of the company’s stock valued at $222,000 after buying an additional 19,883 shares during the last quarter. Millennium Management LLC grew its position in shares of EVgo by 25.9% in the 1st quarter. Millennium Management LLC now owns 5,819,392 shares of the company’s stock valued at $15,480,000 after buying an additional 1,195,470 shares during the last quarter. Creative Planning raised its stake 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 in the last quarter. Finally, Cetera Investment Advisers lifted its position in EVgo by 53.0% in the second 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. 17.44% of the stock is owned by institutional investors and hedge funds.

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.