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

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

EVgo Price Performance

NASDAQ EVGO opened at $3.48 on Monday. The company has a market capitalization of $1.07 billion, a P/E 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 business 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

EVGO has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a research report on Tuesday, October 14th. Morgan Stanley boosted their price objective on 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 raised their target price on shares of EVgo from $5.00 to $5.40 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of EVgo in a research report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $5.82.

Institutional Trading of EVgo

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of EVgo by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 12,399,808 shares of the company’s stock worth $58,651,000 after purchasing an additional 157,376 shares during the last quarter. Headlands Technologies LLC acquired a new position in EVgo during the 2nd quarter worth $169,000. Ewing Morris & Co. Investment Partners Ltd. acquired a new position in EVgo during the 2nd quarter valued at about $1,533,000. Rafferty Asset Management LLC boosted its stake in EVgo by 219.2% during the 2nd quarter. Rafferty Asset Management LLC now owns 112,193 shares of the company’s stock valued at $410,000 after purchasing an additional 77,042 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in EVgo by 5.4% in the second quarter. BNP Paribas Financial Markets now owns 1,147,815 shares of the company’s stock worth $4,190,000 after acquiring an additional 58,676 shares in the last quarter. Hedge funds and other institutional investors own 17.44% of the company’s stock.

About EVgo

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.