Roth Capital Predicts EVgo’s FY2024 Earnings (NYSE:EVGO)

EVgo, Inc. (NYSE:EVGO) – Equities researchers at Roth Capital decreased their FY2024 earnings per share estimates for shares of EVgo in a report released on Tuesday, November 12th. Roth Capital analyst C. Irwin now expects that the company will earn ($0.41) per share for the year, down from their previous forecast of ($0.40). The consensus estimate for EVgo’s current full-year earnings is ($0.40) per share. Roth Capital also issued estimates for EVgo’s Q1 2025 earnings at ($0.09) EPS, Q2 2025 earnings at ($0.08) EPS, Q3 2025 earnings at ($0.06) EPS, Q4 2025 earnings at ($0.03) EPS, FY2025 earnings at ($0.27) EPS and FY2026 earnings at ($0.16) EPS.

A number of other analysts also recently issued reports on the company. UBS Group raised EVgo from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $4.00 to $8.50 in a research report on Thursday, October 10th. JPMorgan Chase & Co. upgraded shares of EVgo from a “neutral” rating to an “overweight” rating and set a $7.00 target price for the company in a report on Thursday, October 3rd. Cantor Fitzgerald restated an “overweight” rating and set a $5.00 price target on shares of EVgo in a research note on Monday, September 30th. Royal Bank of Canada lifted their price objective on EVgo from $4.00 to $8.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Finally, TD Cowen raised EVgo from a “hold” rating to a “buy” rating and increased their target price for the stock from $5.00 to $7.00 in a research note on Thursday, October 3rd. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $6.61.

EVgo Trading Up 0.2 %

Shares of EVGO opened at $5.06 on Friday. EVgo has a 12-month low of $1.65 and a 12-month high of $9.07. The firm has a market capitalization of $1.53 billion, a P/E ratio of -12.05 and a beta of 2.38. The firm has a 50-day moving average price of $6.12 and a 200 day moving average price of $4.04.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of EVgo during the 1st quarter worth approximately $71,000. SG Americas Securities LLC acquired a new stake in EVgo in the first quarter valued at $41,000. Bleakley Financial Group LLC purchased a new position in shares of EVgo in the first quarter valued at $36,000. Vanguard Group Inc. raised its stake in shares of EVgo by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 9,698,722 shares of the company’s stock worth $24,344,000 after buying an additional 37,168 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of EVgo by 11.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 63,392 shares of the company’s stock worth $160,000 after buying an additional 6,633 shares in the last quarter. Institutional investors and hedge funds own 17.44% of the company’s stock.

Insider Activity

In other news, CEO Badar Khan sold 166,725 shares of EVgo stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $5.14, for a total value of $856,966.50. Following the sale, the chief executive officer now owns 348,761 shares of the company’s stock, valued at $1,792,631.54. The trade was a 32.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 66.96% 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.