EVgo Inc. (NASDAQ:EVGO – Get Free Report)’s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $1.61 and last traded at $1.6450, with a volume of 593252 shares changing hands. The stock had previously closed at $1.67.
Wall Street Analysts Forecast Growth
EVGO has been the topic of a number of research reports. Wall Street Zen cut 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 research note on Wednesday, July 15th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of EVgo in a research report on Tuesday. Finally, Royal Bank Of Canada decreased their price target on shares of EVgo from $4.50 to $3.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, EVgo currently has a consensus rating of “Hold” and a consensus price target of $5.28.
EVgo Stock Down 0.9%
EVgo (NASDAQ:EVGO – Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.02. The company had revenue of $109.53 million for the quarter. During the same period in the previous year, the company earned ($0.09) EPS. EVgo’s revenue for the quarter was up 45.4% compared to the same quarter last year. As a group, research analysts expect that EVgo Inc. will post -0.51 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in EVGO. State Street Corp raised its stake in shares of EVgo by 59.3% during the fourth quarter. State Street Corp now owns 6,346,462 shares of the company’s stock valued at $18,468,000 after acquiring an additional 2,362,435 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of EVgo by 111.0% during the fourth quarter. Invesco Ltd. now owns 4,424,683 shares of the company’s stock worth $12,876,000 after purchasing an additional 2,327,545 shares during the period. Millennium Management LLC grew its stake in shares of EVgo by 45.3% in the third quarter. Millennium Management LLC now owns 5,560,748 shares of the company’s stock worth $26,302,000 after purchasing an additional 1,734,958 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of EVgo in the third quarter worth about $8,165,000. Finally, Pictet Asset Management Holding SA increased its holdings in EVgo by 78.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,273,200 shares of the company’s stock valued at $6,615,000 after purchasing an additional 996,815 shares during the period. 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.
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