UBS Group Forecasts Strong Price Appreciation for EVgo (NASDAQ:EVGO) Stock

EVgo (NASDAQ:EVGO) had its price objective raised by research analysts at UBS Group from $5.40 to $5.90 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price objective indicates a potential upside of 91.56% from the company’s previous close.

Several other equities research analysts also recently issued reports on the company. Weiss Ratings restated 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. Finally, Morgan Stanley lifted their price target on shares of EVgo from $4.00 to $4.50 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, EVgo has an average rating of “Moderate Buy” and an average price target of $5.90.

EVgo Stock Performance

EVGO opened at $3.08 on Tuesday. The firm’s fifty day moving average is $4.24 and its two-hundred day moving average is $3.91. The firm has a market cap of $947.07 million, a PE ratio of -7.90 and a beta of 2.35. EVgo has a twelve month low of $2.19 and a twelve month high of $7.15.

EVgo (NASDAQ:EVGO) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.09. The firm had revenue of $92.30 million during the quarter, compared to the consensus estimate of $94.42 million. EVgo’s quarterly revenue was up 36.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.11) EPS. EVgo has set its FY 2025 guidance at EPS. Equities analysts forecast that EVgo will post -0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On EVgo

A number of large investors have recently bought and sold shares of EVGO. Summit Securities Group LLC acquired a new stake in shares of EVgo in the first quarter valued at approximately $30,000. Ballentine Partners LLC bought a new position in EVgo in the first quarter valued at $32,000. Hsbc Holdings PLC acquired a new stake in EVgo in the 1st quarter valued at $38,000. Ethic Inc. bought a new stake in EVgo during the 2nd quarter worth about $38,000. Finally, Banco BTG Pactual S.A. acquired a new position in shares of EVgo during the 2nd quarter worth about $41,000. 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.