Brokers Issue Forecasts for EVgo FY2025 Earnings

EVgo, Inc. (NYSE:EVGO) – Equities research analysts at Cantor Fitzgerald issued their FY2025 earnings per share (EPS) estimates for EVgo in a report released on Tuesday, January 21st. Cantor Fitzgerald analyst A. Sheppard expects that the company will post earnings per share of ($0.53) for the year. Cantor Fitzgerald has a “Overweight” rating and a $5.00 price target on the stock. The consensus estimate for EVgo’s current full-year earnings is ($0.45) per share.

EVGO has been the subject of a number of other reports. Marathon Capitl raised EVgo from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada boosted their price objective on shares of EVgo from $4.00 to $8.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a report on Thursday, January 16th. UBS Group upgraded EVgo from a “neutral” rating to a “buy” rating and boosted their price target for the company from $4.00 to $8.50 in a report on Thursday, October 10th. Finally, TD Cowen raised EVgo from a “hold” rating to a “buy” rating and lifted their target price for the company from $5.00 to $7.00 in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, EVgo currently has an average rating of “Buy” and an average price target of $6.61.

EVgo Stock Down 2.9 %

Shares of EVGO stock opened at $3.31 on Wednesday. The firm has a fifty day moving average of $5.08 and a 200-day moving average of $5.04. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of -7.88 and a beta of 2.35. EVgo has a 12-month low of $1.65 and a 12-month high of $9.07.

EVgo (NYSE:EVGO) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The firm had revenue of $67.50 million during the quarter, compared to analyst estimates of $66.52 million. During the same quarter in the prior year, the company earned ($0.09) EPS. The firm’s revenue was up 92.3% compared to the same quarter last year.

Institutional Investors Weigh In On EVgo

A number of institutional investors and hedge funds have recently bought and sold shares of EVGO. Clear Harbor Asset Management LLC bought a new position in shares of EVgo in the fourth quarter valued at approximately $72,000. Tidal Investments LLC boosted its holdings in shares of EVgo by 714.2% in the 3rd quarter. Tidal Investments LLC now owns 94,541 shares of the company’s stock worth $391,000 after buying an additional 82,929 shares during the last quarter. Barclays PLC grew its position in EVgo by 280.6% during the third quarter. Barclays PLC now owns 132,981 shares of the company’s stock valued at $551,000 after buying an additional 98,041 shares during the period. Geode Capital Management LLC increased its holdings in EVgo by 3.9% during the third quarter. Geode Capital Management LLC now owns 2,419,863 shares of the company’s stock worth $10,020,000 after buying an additional 90,887 shares during the last quarter. Finally, State Street Corp raised its position in EVgo by 25.3% in the third quarter. State Street Corp now owns 4,192,828 shares of the company’s stock worth $17,358,000 after acquiring an additional 847,777 shares during the period. 17.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other EVgo news, Director David Nanus sold 23,000,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $5.00, for a total transaction of $115,000,000.00. Following the transaction, the director now owns 5,882,352 shares in the company, valued at approximately $29,411,760. This represents a 79.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Dennis G. Kish sold 17,379 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $4.32, for a total transaction of $75,077.28. Following the sale, the president now directly owns 13,655 shares of the company’s stock, valued at approximately $58,989.60. The trade was a 56.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,184,104 shares of company stock valued at $115,932,044 over the last 90 days. Company insiders own 66.96% of the company’s stock.

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.