EVgo, Inc. Expected to Post Q3 2024 Earnings of ($0.11) Per Share (NYSE:EVGO)

EVgo, Inc. (NYSE:EVGO) – Equities research analysts at Capital One Financial issued their Q3 2024 earnings estimates for EVgo in a research report issued on Monday, September 16th. Capital One Financial analyst D. Becker anticipates that the company will post earnings per share of ($0.11) for the quarter. Capital One Financial has a “Strong-Buy” rating on the stock. The consensus estimate for EVgo’s current full-year earnings is ($0.40) per share. Capital One Financial also issued estimates for EVgo’s Q4 2024 earnings at ($0.11) EPS, FY2024 earnings at ($0.41) EPS, Q1 2025 earnings at ($0.11) EPS, Q2 2025 earnings at ($0.10) EPS, Q3 2025 earnings at ($0.09) EPS, Q4 2025 earnings at ($0.08) EPS, Q1 2026 earnings at ($0.10) EPS, Q2 2026 earnings at ($0.09) EPS and FY2026 earnings at ($0.37) EPS.

Several other brokerages have also issued reports on EVGO. Needham & Company LLC restated a “hold” rating on shares of EVgo in a report on Thursday, August 29th. UBS Group started coverage on shares of EVgo in a research note on Monday, July 22nd. They issued a “neutral” rating and a $4.00 price target on the stock. Benchmark upped their price objective on shares of EVgo from $3.00 to $5.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 target price on shares of EVgo in a report on Monday, September 9th. Finally, Stifel Nicolaus decreased their price target on EVgo from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, EVgo presently has an average rating of “Moderate Buy” and a consensus price target of $4.63.

EVgo Stock Down 6.2 %

NYSE:EVGO opened at $4.41 on Thursday. EVgo has a 52 week low of $1.65 and a 52 week high of $4.80. The stock’s fifty day moving average is $3.91 and its two-hundred day moving average is $2.81. The company has a market capitalization of $1.33 billion, a P/E ratio of -11.61 and a beta of 2.59.

EVgo (NYSE:EVGO) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.01. The firm had revenue of $66.62 million for the quarter, compared to analysts’ expectations of $59.40 million. The firm’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) EPS.

Insider Activity

In related news, insider Francine Sullivan sold 12,584 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $3.60, for a total transaction of $45,302.40. Following the completion of the transaction, the insider now directly owns 117,327 shares of the company’s stock, valued at approximately $422,377.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Francine Sullivan sold 12,584 shares of EVgo stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $3.60, for a total value of $45,302.40. Following the completion of the transaction, the insider now owns 117,327 shares in the company, valued at $422,377.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Dennis G. Kish sold 16,414 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $3.60, for a total transaction of $59,090.40. Following the completion of the sale, the president now directly owns 47,614 shares in the company, valued at $171,410.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,475 shares of company stock worth $110,189. Corporate insiders own 66.96% of the company’s stock.

Hedge Funds Weigh In On EVgo

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of EVgo by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 9,698,722 shares of the company’s stock valued at $24,344,000 after buying an additional 37,168 shares in the last quarter. Wellington Management Group LLP grew its stake in EVgo by 34.9% during the 4th quarter. Wellington Management Group LLP now owns 3,675,314 shares of the company’s stock worth $13,158,000 after buying an additional 951,272 shares during the last quarter. Voisard Asset Management Group Inc. acquired a new position in EVgo during the fourth quarter worth approximately $29,000. Bleakley Financial Group LLC acquired a new position in EVgo during the first quarter worth approximately $36,000. Finally, Tidal Investments LLC lifted its stake in EVgo by 32.2% in the first quarter. Tidal Investments LLC now owns 317,945 shares of the company’s stock valued at $798,000 after buying an additional 77,354 shares during the last quarter. 17.44% of the stock is currently owned by hedge funds and other institutional investors.

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.