Streetbeat News

EVGO

EVgo, Inc.

https://www.evgo.com

Industry

Specialty Retail

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. It also provides ancillary services, such as customization of digital applications, charging data integration, loyalty programs, access to chargers behind parking lot, or garage, pay gates and pilots microtargeted advertising, and charging reservations; and maintenance and development and project management services through eXtendTM, including electric vehicle supply equipment installation, networking, and operations. The company was incorporated in 2010 and is based in Los Angeles, California.

Open

6.18

Mkt cap

592M

Volume

9.3M

High

6.19

P/E Ratio

-15.39

52-wk high

9.07

Low

5.49

Div yield

N/A

52-wk low

1.65

EVgo (NASDAQ:EVGO) reported Q3 GAAP EPS of $(0.09), beating the estimate of $(0.21) by 57.14%. This is a 52.63% increase over losses from the same period last year. The company also reported quarterly sales of $35.11M, beating the estimate of $29.94M by 17.26%. This is a 234.07% increase over sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 12:02 pm

TD Cowen analyst Gabe Daoud has downgraded EVgo (NASDAQ:EVGO) from Outperform to Market Perform and lowered the price target from $6 to $4.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 11:31 am

EVgo Inc (NASDAQ:EVGO) and its eXtend partners have been selected for more than $12.7 million in preliminary awards from various funding sources across California, Colorado, and Pennsylvania. The funding will support the buildout of over 150 fast-charging stalls. To date, EVgo and its eXtend partners have been selected for approximately 20% of awarded NEVI funds. EVgo shares are trading lower by 1.91% at $2.99.

Portfolio Pulse from Shivani Kumaresan

October 12, 2023 | 2:17 pm

On Tuesday, 132 companies hit new 52-week lows. Among them, Corning (NYSE:GLW) was the largest in terms of market cap, while Wheeler Real Estate IT (NASDAQ:WHLR) was the smallest. Fortress Biotech (NASDAQ:FBIO) saw the largest move with shares plummeting 1350.03%, while Insulet (NASDAQ:PODD) made the biggest bounce back, moving up 0.0% shortly after hitting a new 52-week low.

Portfolio Pulse from Benzinga Insights

October 10, 2023 | 5:09 pm

American Honda Motor has reached agreements with EVgo, Electrify America, and other roaming network partners. Under these agreements, Honda and Acura customers will have access to Tesla Supercharger stations nationwide.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 4:04 pm

EVgo has received its first shipment of 350kW high-power fast chargers from Delta Electronics as part of the Build America, Buy America initiative. To date, Delta has delivered 10 chargers.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2023 | 11:17 am

RBC Capital Markets analyst Chris Dendrinos initiated coverage on EVgo Inc with a Sector Perform rating and a price target of $5. Dendrinos believes EVgo's strategy positions it to benefit from trends in vehicle electrification and demand for charging infrastructure. However, he is concerned that price competition and regulatory credits could impact margins and returns. He estimates revenue and adjusted EPS loss of $134.5 million and $(0.47) in FY23, $244.5 million and $(0.38) in FY24 and $331.5 million and $(0.27) in FY25.

Portfolio Pulse from Lekha Gupta

September 08, 2023 | 7:23 pm

RBC Capital analyst Chris Dendrinos has initiated coverage on EVgo (NASDAQ:EVGO) with a Sector Perform rating and a price target of $5.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 12:04 pm

EVgo Inc's shares are trading lower by 4% due to disappointing second-quarter results from peer EV charging company ChargePoint Holdings Inc. The poor performance of ChargePoint has cast a shadow of uncertainty over the entire EV charging industry. ChargePoint reported a net loss of 24 cents per share, falling short of the analyst consensus estimate of a loss of 15 cents, and its quarterly sales were slightly below the analyst consensus estimate by 1.79 percent.

Portfolio Pulse from Henry Khederian

September 07, 2023 | 2:55 pm

EVgo shares are trading lower due to weak earnings from ChargePoint, causing a downturn in EV charging stocks.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 2:54 pm

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