Analysts Issue Forecasts for EVgo, Inc.’s Q3 2024 Earnings (NYSE:EVGO)

EVgo, Inc. (NYSE:EVGO) – Equities researchers at Capital One Financial issued their Q3 2024 earnings estimates for shares of EVgo in a research note issued to investors 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 currently 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.

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

EVgo Price Performance

NYSE EVGO opened at $4.33 on Thursday. The business’s fifty day moving average is $3.94 and its 200-day moving average is $2.82. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -11.39 and a beta of 2.59. EVgo has a one year low of $1.65 and a one year high of $4.80.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EVGO. Legacy Capital Wealth Partners LLC purchased a new position in EVgo during the second quarter worth about $27,000. Voisard Asset Management Group Inc. purchased a new position in shares of EVgo during the fourth quarter worth about $29,000. Simplicity Wealth LLC bought a new position in shares of EVgo in the first quarter worth approximately $36,000. Bleakley Financial Group LLC bought a new position in shares of EVgo in the first quarter worth approximately $36,000. Finally, SG Americas Securities LLC purchased a new stake in EVgo in the first quarter valued at approximately $41,000. Institutional investors own 17.44% of the company’s stock.

Insider Buying and Selling

In related news, President Dennis G. Kish sold 16,414 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 $59,090.40. Following the sale, the president now directly owns 47,614 shares in the company, valued at approximately $171,410.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other EVgo news, insider Francine Sullivan sold 12,584 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 value of $45,302.40. Following the sale, the insider now directly owns 117,327 shares in the company, valued at approximately $422,377.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Dennis G. Kish sold 16,414 shares of the firm’s stock in a transaction 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 transaction, the president now directly owns 47,614 shares of the company’s stock, valued at $171,410.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,475 shares of company stock valued at $110,189. Company 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.