EVgo Inc. (NASDAQ:EVGO) Receives Average Recommendation of “Hold” from Analysts

Shares of EVgo Inc. (NASDAQ:EVGO – Get Free Report) have received a consensus recommendation of “Hold” from the nine analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $5.28.

EVGO has been the subject of several recent analyst reports. Wall Street Zen cut EVgo from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th. Royal Bank Of Canada cut their price objective on shares of EVgo from $4.50 to $3.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of EVgo in a research report on Wednesday, March 25th.

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Hedge Funds Weigh In On EVgo

Hedge funds have recently made changes to their positions in the stock. Quarry LP grew its stake in shares of EVgo by 145.0% during the 4th quarter. Quarry LP now owns 9,307 shares of the company’s stock valued at $27,000 after buying an additional 5,508 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of EVgo in the 4th quarter worth $27,000. Caitong International Asset Management Co. Ltd raised its position in shares of EVgo by 4,903.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 9,856 shares of the company’s stock worth $29,000 after buying an additional 9,659 shares during the period. Ameriprise Financial Inc. acquired a new position in EVgo in the third quarter valued at $49,000. Finally, Balyasny Asset Management L.P. acquired a new position in EVgo in the fourth quarter valued at $32,000. Institutional investors and hedge funds own 17.44% of the company’s stock.

EVgo Trading Down 6.9%

EVGO traded down $0.14 during trading on Tuesday, hitting $1.82. The company’s stock had a trading volume of 363,255 shares, compared to its average volume of 4,124,179. The firm’s 50 day moving average price is $2.00 and its 200-day moving average price is $2.39. The company has a debt-to-equity ratio of 5.39, a current ratio of 2.07 and a quick ratio of 2.07. The stock has a market cap of $572.79 million, a PE ratio of -5.24 and a beta of 2.78. EVgo has a twelve month low of $1.64 and a twelve month high of $5.18.

EVgo (NASDAQ:EVGO – Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02. The business had revenue of $109.53 million during the quarter. The firm’s revenue for the quarter was up 45.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.09) earnings per share. On average, analysts expect that EVgo will post -0.51 earnings per share for the current year.

EVgo Company Profile

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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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