EVgo stock jumps after ‘strong’ Q3 earnings report, says Cantor Fitzgerald

EVgo (EVGO) shares are up over 15% in pre-market trading following the company’s strong Q3 earnings report, which showed that Average Daily Network Throughput per Stall Grew to 254 kWh and the Charger Utilization Average Rate was about 22%, Cantor Fitzgerald tells investors in a research note. The company added 147,000 new customer accounts in the quarter, bringing the overall number of customer accounts to 1.2M, the firm notes. Additionally, EVgo now expects to achieve breakeven adjusted EBITDA in 2025.