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

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

EVgo Stock Performance

Shares of NASDAQ:EVGO opened at $3.48 on Monday. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -8.49 and a beta of 2.35. EVgo has a 1-year low of $2.19 and a 1-year high of $7.15. The company has a 50 day moving average price of $4.28 and a 200 day moving average price of $3.91.

Analysts Set New Price Targets

Several research analysts have weighed in on EVGO shares. Morgan Stanley increased their target price on shares of EVgo from $4.00 to $4.50 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. UBS Group increased their price objective on EVgo from $5.00 to $5.40 and gave the company a “buy” rating in a report on Wednesday, August 20th. Needham & Company LLC restated a “hold” rating on shares of EVgo in a research report on Tuesday, October 14th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of EVgo in a research report on Wednesday, October 8th. Six investment 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.82.

Institutional Investors Weigh In On EVgo

Several institutional investors have recently made changes to their positions in the company. Banco BTG Pactual S.A. acquired a new position in shares of EVgo during the 2nd quarter worth approximately $41,000. Prudential Financial Inc. bought a new stake in shares of EVgo during the 2nd quarter worth approximately $55,000. New York State Common Retirement Fund boosted its stake in EVgo by 621.6% in the second quarter. New York State Common Retirement Fund now owns 38,773 shares of the company’s stock valued at $142,000 after buying an additional 33,400 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of EVgo by 53.0% during the second quarter. Cetera Investment Advisers now owns 43,183 shares of the company’s stock worth $158,000 after purchasing an additional 14,958 shares during the last quarter. Finally, Creative Planning raised its position in shares of EVgo by 56.4% during the second quarter. Creative Planning now owns 44,353 shares of the company’s stock worth $162,000 after acquiring an additional 16,000 shares during the last quarter. 17.44% of the stock is currently owned by institutional investors and hedge funds.

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.