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

6.00

Mkt cap

671M

Volume

6.1M

High

6.45

P/E Ratio

-14.88

52-wk high

9.07

Low

5.87

Div yield

N/A

52-wk low

1.65

US stock futures indicate a flat opening after several consecutive gains. Traders are awaiting Federal Reserve Chair Jerome Powell’s speech for insights into possible rate cuts. Media earnings, including Walt Disney Co., are in focus. Bond yields remain stable, reflecting dovish messages from Fed officials. The S&P 500 and the Nasdaq Composite had their longest winning streak since November 2021. In premarket trading, the SPDR S&P 500 ETF Trust ticked up 0.04% and the Invesco QQQ ETF edged down 0.01%. Several companies including Rivian Automotive, Lucid Group, Akamai Technologies, eBay, GoPro, H&R Block, IAC Inc., and Upstart Holdings reported earnings.

Portfolio Pulse from Shanthi Rexaline

November 08, 2023 | 12:12 pm

EVgo's Q3 network throughput reached a record 37 gigawatt-hours (GWh), a 208% increase year-over-year. The company ended the quarter with approximately 3,400 stalls in operation or under construction, including EVgo eXtend™ stalls, with over 240 new stalls added during the quarter. They also added over 106,000 new customer accounts, reaching more than 785,000 overall at the end of the quarter.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 12:03 pm

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

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