Fintel reports that on May 9, 2024, Cantor Fitzgerald upgraded their outlook for EVgo (NasdaqGS:EVGO) from Neutral to Overweight.
Analyst Price Forecast Suggests 220.54% Upside
As of May 8, 2024, the average one-year price target for EVgo is 6.35. The forecasts range from a low of 3.03 to a high of $12.60. The average price target represents an increase of 220.54% from its latest reported closing price of 1.98.
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 300 funds or institutions reporting positions in EVgo. This is an decrease of 35 owner(s) or 10.45% in the last quarter. Average portfolio weight of all funds dedicated to EVGO is 0.06%, an increase of 22.11%. Total shares owned by institutions decreased in the last three months by 4.35% to 49,112K shares. 
The put/call ratio of EVGO is 0.36, indicating a bullish outlook.
What are Other Shareholders Doing?
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 3,611K shares representing 3.40% ownership of the company. In its prior filing, the firm reported owning 2,745K shares , representing an increase of 23.99%. The firm increased its portfolio allocation in EVGO by 18.08% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 3,179K shares representing 2.99% ownership of the company. No change in the last quarter.
IWM – iShares Russell 2000 ETF holds 2,752K shares representing 2.59% ownership of the company. In its prior filing, the firm reported owning 2,358K shares , representing an increase of 14.29%. The firm decreased its portfolio allocation in EVGO by 4.45% over the last quarter.
NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 2,505K shares representing 2.36% ownership of the company. In its prior filing, the firm reported owning 2,523K shares , representing a decrease of 0.73%. The firm decreased its portfolio allocation in EVGO by 7.63% 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.
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