Brokerages Set EVgo Inc. (NASDAQ:EVGO) Price Target at $5.28

EVgo Inc. (NASDAQ:EVGO) has been assigned an average recommendation of “Hold” from the nine research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $5.28.

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus reduced their price target on shares of EVgo from $7.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. Cantor Fitzgerald cut their price objective on shares of EVgo from $7.00 to $6.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 4th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of EVgo in a research report on Wednesday, March 25th. Wall Street Zen downgraded shares of EVgo from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 9th. Finally, 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 research report on Wednesday, May 6th.

Institutional Trading of EVgo

Several hedge funds have recently bought and sold shares of the company. J. Derek Lewis & Associates Inc. lifted its position in EVgo by 59.3% in the 1st quarter. J. Derek Lewis & Associates Inc. now owns 43,000 shares of the company’s stock valued at $74,000 after purchasing an additional 16,000 shares during the last quarter. Royal Bank of Canada raised its position in shares of EVgo by 94.4% during the 1st quarter. Royal Bank of Canada now owns 41,038 shares of the company’s stock worth $70,000 after buying an additional 19,929 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of EVgo by 89.4% during the 1st quarter. Lazard Asset Management LLC now owns 652,657 shares of the company’s stock worth $1,123,000 after buying an additional 307,984 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of EVgo by 31.8% during the 1st quarter. Renaissance Technologies LLC now owns 1,192,933 shares of the company’s stock worth $2,052,000 after buying an additional 288,100 shares in the last quarter. Finally, Cetera Investment Advisers raised its position in shares of EVgo by 46.3% during the 1st quarter. Cetera Investment Advisers now owns 42,683 shares of the company’s stock worth $73,000 after buying an additional 13,499 shares in the last quarter. 17.44% of the stock is currently owned by institutional investors.

EVgo Stock Performance

EVgo stock opened at $1.88 on Monday. The firm’s 50-day moving average is $1.96 and its 200-day moving average is $2.65. The company has a debt-to-equity ratio of 5.39, a quick ratio of 2.07 and a current ratio of 2.07. EVgo has a 1 year low of $1.64 and a 1 year high of $5.18. The company has a market cap of $590.05 million, a P/E ratio of -5.37 and a beta of 2.82.

EVgo (NASDAQ:EVGO) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. The business had revenue of $109.53 million during the quarter. During the same quarter in the prior year, the firm posted ($0.09) EPS. The business’s revenue was up 45.4% on a year-over-year basis. On average, equities analysts expect that EVgo will post -0.45 earnings per share for the current year.

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.