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

EVgo, Inc. (NYSE:EVGO) – Analysts at Roth Capital dropped their FY2024 earnings per share estimates for shares of EVgo in a research note issued to investors on Tuesday, November 12th. Roth Capital analyst C. Irwin now forecasts that the company will post earnings per share of ($0.41) for the year, down from their prior estimate 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 commented on EVGO. JPMorgan Chase & Co. upgraded EVgo from a “neutral” rating to an “overweight” rating and set a $7.00 price objective for the company in a report on Thursday, October 3rd. Stifel Nicolaus lifted their price target on shares of EVgo from $6.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada boosted their price objective on shares of EVgo from $4.00 to $8.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. UBS Group upgraded shares of EVgo from a “neutral” rating to a “buy” rating and lifted their target price for the company from $4.00 to $8.50 in a report on Thursday, October 10th. Finally, Marathon Capitl raised shares of EVgo from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Two 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $6.61.

EVgo Price Performance

EVGO opened at $5.06 on Friday. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -12.05 and a beta of 2.38. EVgo has a 12 month low of $1.65 and a 12 month high of $9.07. The business has a 50-day moving average of $6.12 and a two-hundred day moving average of $4.06.

EVgo (NYSE:EVGO) last posted its quarterly earnings data 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. The firm’s revenue was up 92.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.09) EPS.

Insiders Place Their Bets

In other EVgo news, CEO Badar Khan sold 166,725 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $5.14, for a total transaction of $856,966.50. Following the completion of the transaction, the chief executive officer now directly owns 348,761 shares of the company’s stock, valued at $1,792,631.54. This trade represents a 32.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 66.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On EVgo

A number of institutional investors have recently modified their holdings of EVGO. Legacy Capital Wealth Partners LLC acquired a new stake in shares of EVgo in the second quarter valued at approximately $27,000. Bleakley Financial Group LLC acquired a new position in EVgo during the 1st quarter worth $36,000. SG Americas Securities LLC acquired a new position in shares of EVgo during the first quarter valued at $41,000. Point72 DIFC Ltd bought a new stake in shares of EVgo during the second quarter valued at about $45,000. Finally, International Assets Investment Management LLC bought a new position in EVgo in the 3rd quarter valued at about $51,000. Institutional investors and hedge funds 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.