EVGO

Benchmark Initiates Coverage of EVgo (EVGO) with Buy Recommendation

Fintel reports that on June 5, 2024, Benchmark initiated coverage of EVgo (NasdaqGS:EVGO) with a Buy recommendation.

Analyst Price Forecast Suggests 202.32% Upside

As of June 2, 2024, the average one-year price target for EVgo is 5.86. The forecasts range from a low of 2.02 to a high of $12.60. The average price target represents an increase of 202.32% from its latest reported closing price of 1.94.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for EVgo is 312MM, an increase of 63.34%. The projected annual non-GAAP EPS is -0.32.

What is the Fund Sentiment?

There are 304 funds or institutions reporting positions in EVgo. This is an decrease of 9 owner(s) or 2.88% in the last quarter. Average portfolio weight of all funds dedicated to EVGO is 0.05%, an increase of 3.56%. Total shares owned by institutions decreased in the last three months by 1.56% to 50,716K shares. EVGO / EVgo, Inc. Put/Call Ratios The put/call ratio of EVGO is 0.32, indicating a bullish outlook.

What are Other Shareholders Doing?

EVGO / EVgo, Inc. Shares Held by Institutions

Wellington Management Group Llp holds 3,675K shares representing 3.46% ownership of the company. In its prior filing, the firm reported owning 2,724K shares , representing an increase of 25.88%. The firm decreased its portfolio allocation in EVGO by 80.86% over the last quarter.

Pictet Asset Management Holding holds 3,343K shares representing 3.15% ownership of the company. In its prior filing, the firm reported owning 3,611K shares , representing a decrease of 8.01%. The firm decreased its portfolio allocation in EVGO by 35.96% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,094K shares representing 2.91% ownership of the company. In its prior filing, the firm reported owning 3,179K shares , representing a decrease of 2.77%. The firm decreased its portfolio allocation in EVGO by 37.80% over the last quarter.

Invesco holds 2,612K shares representing 2.46% ownership of the company. In its prior filing, the firm reported owning 2,287K shares , representing an increase of 12.44%. The firm decreased its portfolio allocation in EVGO by 93.38% over the last quarter.

IWM - iShares Russell 2000 ETF holds 2,547K shares representing 2.40% ownership of the company. In its prior filing, the firm reported owning 2,752K shares , representing a decrease of 8.02%. The firm decreased its portfolio allocation in EVGO by 33.15% over the last quarter.

EVgo Background Information
(This description is provided by the company.)

EVgo is the nation’s largest public fast charging network for electric vehicles, and the first to be powered by 100% renewable energy. With more than 800 fast charging locations, EVgo’s owned and operated charging network serves over 68 metropolitan areas across 35 states and more than 300,000 customer accounts. Founded in 2010, EVgo leads the way on transportation electrification, partnering with automakers; fleet and rideshare operators; retail hosts such as hotels, shopping centers, gas stations and parking lot operators; and other stakeholders to deploy advanced charging technology to expand network availability and make it easier for drivers across the U.S. to enjoy the benefits of driving an EV. As a charging technology first mover, EVgo works closely with business and government leaders to accelerate the ubiquitous adoption of EVs by providing a reliable and convenient charging experience close to where drivers live, work and play, whether for a daily commute or a commercial fleet.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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