Roth Capital Has Bearish Estimate for EVgo FY2024 Earnings

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.

Other equities analysts also recently issued research reports about the stock. Marathon Capitl raised shares of EVgo from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. UBS Group upgraded 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. Stifel Nicolaus boosted their price target on EVgo from $6.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Capital One Financial upgraded EVgo to a “strong-buy” rating in a report on Monday, September 16th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a report on Wednesday. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $6.61.

EVgo Price Performance

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

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

Insider Activity

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

Institutional Investors Weigh In On EVgo

A number of institutional investors have recently made changes to their positions in the company. Legacy Capital Wealth Partners LLC acquired a new position in EVgo during the 2nd quarter valued at approximately $27,000. Bleakley Financial Group LLC bought a new position in EVgo in the 1st quarter worth about $36,000. SG Americas Securities LLC acquired a new stake in shares of EVgo in the first quarter valued at approximately $41,000. Point72 DIFC Ltd bought a new stake in shares of EVgo during the second quarter valued at approximately $45,000. Finally, International Assets Investment Management LLC acquired a new position in shares of EVgo during the third quarter worth approximately $51,000. 17.44% of the stock is currently owned by institutional investors.

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.