EVgo (NASDAQ:EVGO) Releases Earnings Results, Beats Expectations By $0.04 EPS

EVgo (NASDAQ:EVGO) announced its quarterly earnings results on Tuesday. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.04, Zacks reports. The firm had revenue of $67.51 million for the quarter, compared to analysts’ expectations of $69.49 million. EVgo updated its FY 2025 guidance to EPS.

EVgo Stock Performance

EVGO stock opened at $2.56 on Thursday. The stock has a market capitalization of $776.07 million, a P/E ratio of -6.10 and a beta of 2.32. EVgo has a one year low of $1.65 and a one year high of $9.07. The company has a 50 day moving average price of $3.40 and a two-hundred day moving average price of $4.90.

Analyst Upgrades and Downgrades

EVGO has been the topic of a number of research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $8.00 target price on shares of EVgo in a research report on Wednesday. UBS Group decreased their price objective on shares of EVgo from $8.00 to $5.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. JPMorgan Chase & Co. dropped their target price on shares of EVgo from $7.00 to $6.00 and set an “overweight” rating for the company in a report on Wednesday, February 19th. Finally, Needham & Company LLC restated a “hold” rating on shares of EVgo in a research report on Wednesday. Two equities research 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. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $6.44.

Insider Activity at EVgo

In other EVgo news, Director David Nanus sold 23,000,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $5.00, for a total transaction of $115,000,000.00. Following the transaction, the director now owns 5,882,352 shares of the company’s stock, valued at $29,411,760. This trade represents a 79.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Dennis G. Kish sold 44,184 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $3.41, for a total transaction of $150,667.44. Following the sale, the president now directly owns 95,986 shares of the company’s stock, valued at $327,312.26. This represents a 31.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,061,563 shares of company stock worth $115,225,745. 66.96% of the stock is currently owned by insiders.

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.