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Cantor Fitzgerald analyst Andres Sheppard upgraded the shares of EVgo Inc (NASDAQ:EVGO) from Neutral to Overweight and lowered the price target from $5 to $4.
EVGO reported a first-quarter FY24 sales jump of 118.2% year-on-year to $55.16 million, beating the analyst consensus estimate of $52.389 million. EPS of $(0.09) beat the analyst consensus estimate of $(0.14).
EVgo also announced that Olga Shevorenkova will be stepping down as Chief Financial Officer and departing the company, effective on or about May 31.
Charger utilization average rate was ~19% in 1Q24, and average daily network throughput per stall grew to 193 kWh.
This resulted in a total network throughput of 53 …
Full story available on Benzinga.com
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