Fintel reports that on October 3, 2024, JP Morgan upgraded their outlook for EVgo (NasdaqGS:EVGO) from Neutral to Overweight.
Analyst Price Forecast Suggests 10.43% Downside
As of September 25, 2024, the average one-year price target for EVgo is $5.66/share. The forecasts range from a low of $4.04 to a high of $7.35. The average price target represents a decrease of 10.43% from its latest reported closing price of $6.32 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for EVgo is 312MM, an increase of 50.66%. The projected annual non-GAAP EPS is -0.32.
What is the Fund Sentiment?
There are 303 funds or institutions reporting positions in EVgo. This is an increase of 2 owner(s) or 0.66% in the last quarter. Average portfolio weight of all funds dedicated to EVGO is 0.07%, an increase of 40.39%. Total shares owned by institutions increased in the last three months by 8.25% to 50,861K shares. 
The put/call ratio of EVGO is 0.28, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,463K shares representing 3.24% ownership of the company. In its prior filing, the firm reported owning 3,094K shares , representing an increase of 10.66%. The firm increased its portfolio allocation in EVGO by 6.25% over the last quarter.
Invesco holds 3,040K shares representing 2.85% ownership of the company. In its prior filing, the firm reported owning 2,612K shares , representing an increase of 14.08%. The firm increased its portfolio allocation in EVGO by 11.86% over the last quarter.
PBW - Invesco WilderHill Clean Energy ETF holds 2,682K shares representing 2.51% ownership of the company. In its prior filing, the firm reported owning 1,887K shares , representing an increase of 29.63%. The firm increased its portfolio allocation in EVGO by 165.02% over the last quarter.
Pictet Asset Management Holding holds 2,665K shares representing 2.49% ownership of the company. In its prior filing, the firm reported owning 3,343K shares , representing a decrease of 25.47%. The firm decreased its portfolio allocation in EVGO by 17.95% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 2,530K shares representing 2.37% ownership of the company. In its prior filing, the firm reported owning 2,502K shares , representing an increase of 1.08%. The firm increased its portfolio allocation in EVGO by 3.51% 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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