EVgo (NASDAQ:EVGO – Get Free Report) had its price objective reduced by investment analysts at Stifel Nicolaus from $7.00 to $6.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 305.41% from the stock’s current price.
A number of other analysts have also commented on the stock. Royal Bank Of Canada lowered their target price on shares of EVgo from $3.00 to $2.50 and set an “outperform” rating for the company in a report on Thursday, August 6th. Cantor Fitzgerald cut their price target on EVgo from $4.00 to $3.00 and set an “overweight” rating on the stock in a research note on Thursday, August 6th. Needham & Company LLC restated a “hold” rating on shares of EVgo in a research report on Wednesday, August 5th. Roth Capital set a $2.00 price objective on EVgo in a research note on Monday, August 10th. Finally, Morgan Stanley set a $2.50 price objective on EVgo in a report on Thursday, August 6th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $3.65.
Check Out Our Latest Report on EVGO
EVgo Stock Performance
EVgo (NASDAQ:EVGO – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.03. The business had revenue of $82.65 million for the quarter. EVgo’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period last year, the company posted ($0.10) EPS. Equities analysts anticipate that EVgo will post -0.5 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of EVGO. Advisors Asset Management Inc. boosted its holdings in shares of EVgo by 7.4% in the fourth quarter. Advisors Asset Management Inc. now owns 70,388 shares of the company’s stock valued at $205,000 after buying an additional 4,826 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in shares of EVgo by 22.5% during the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 26,798 shares of the company’s stock worth $78,000 after acquiring an additional 4,926 shares during the period. Quarry LP raised its holdings in shares of EVgo by 145.0% during the fourth quarter. Quarry LP now owns 9,307 shares of the company’s stock worth $27,000 after acquiring an additional 5,508 shares during the period. DRW Securities LLC lifted its position in EVgo by 19.2% in the 4th quarter. DRW Securities LLC now owns 39,655 shares of the company’s stock valued at $115,000 after acquiring an additional 6,389 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in EVgo by 18.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 46,791 shares of the company’s stock valued at $171,000 after acquiring an additional 7,331 shares in the last quarter. Institutional investors own 17.44% of the company’s stock.
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.
Featured Stories
- Five stocks we like better than EVgo
- 3 Contrarian Trades for a Market That Looks Too Hot
- The Bull Case for D-Wave After a Disappointing Earnings Season
- Visa Just Put Hims & Hers in the Penalty Box—Here’s Why It Matters
- Treasury Yields Are Surging Again: 3 Stocks That Could Feel the Pain
Receive News & Ratings for EVgo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EVgo and related companies with MarketBeat.com's FREE daily email newsletter.
