Capital One Financial Brokers Boost Earnings Estimates for EVgo, Inc. (NYSE:EVGO)

Posted by on Jun 6th, 2022

EVgo, Inc. (NYSE:EVGO – Get Rating) – Investment analysts at Capital One Financial increased their FY2022 EPS estimates for shares of EVgo in a research note issued on Wednesday, June 1st. Capital One Financial analyst R. Tullis now anticipates that the company will post earnings per share of ($0.47) for the year, up from their previous forecast of ($0.53). Capital One Financial also issued estimates for EVgo’s FY2023 earnings at ($0.29) EPS.

EVgo (NYSE:EVGO – Get Rating) last released its earnings results on Wednesday, March 23rd. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.13. The firm had revenue of $7.12 million for the quarter, compared to the consensus estimate of $5.90 million.

EVGO has been the subject of a number of other reports. Cantor Fitzgerald initiated coverage on shares of EVgo in a report on Thursday, April 28th. They issued an “overweight” rating and a $14.00 target price for the company. Tudor, Pickering, Holt & Co. began coverage on EVgo in a research note on Thursday, April 21st. They set a “buy” rating and a $16.00 target price for the company. Zacks Investment Research raised EVgo from a “sell” rating to a “hold” rating in a research note on Monday, May 30th. Credit Suisse Group upgraded EVgo from a “neutral” rating to an “outperform” rating and set a $14.00 target price for the company in a report on Thursday, May 12th. Finally, Citigroup lowered their target price on EVgo from $11.00 to $10.00 in a report on Monday, May 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, EVgo currently has a consensus rating of “Hold” and a consensus target price of $15.00.

NYSE EVGO opened at $9.59 on Monday. The company has a fifty day moving average of $10.34 and a two-hundred day moving average of $10.42. EVgo has a 52 week low of $6.90 and a 52 week high of $19.59.

Several institutional investors have recently made changes to their positions in EVGO. Wolverine Asset Management LLC bought a new stake in shares of EVgo during the 4th quarter worth $119,000. Commonwealth Equity Services LLC raised its holdings in shares of EVgo by 49.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 40,689 shares of the company’s stock worth $404,000 after acquiring an additional 13,401 shares in the last quarter. Alps Advisors Inc. purchased a new stake in shares of EVgo during the fourth quarter worth $6,168,000. Pictet Asset Management SA increased its position in EVgo by 47.9% during the fourth quarter. Pictet Asset Management SA now owns 3,991,750 shares of the company’s stock worth $39,678,000 after buying an additional 1,293,481 shares during the last quarter. Finally, National Asset Management Inc. increased its position in EVgo by 124.0% during the fourth quarter. National Asset Management Inc. now owns 47,590 shares of the company’s stock worth $474,000 after buying an additional 26,340 shares during the last quarter. Institutional investors and hedge funds own 9.91% of the company’s stock.

EVgo Company Profile (Get Rating)

EVgo, Inc owns and operates a direct current fast charging network 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.

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