11 Best Green Energy Penny Stocks to Buy Right Now

8. EVgo, Inc. (NASDAQ:EVGO)

Share Price as of July 14: $3.43

Stock Upside Potential as of July 14: 64.35%

Number of Hedge Fund Holders: 26

Evgo, Inc. (NASDAQ:EVGO) is one of the best green energy penny stocks to buy right now. On June 17, UBS reiterated a ‘Buy’ rating and a $5 price target. UBS views the company as its preferred electric vehicle charging investment as it is poised to benefit from various catalysts.

For starters, the research firm has echoed the long-term impact of additional Department of Energy loan disbursements. It expects the disbursements to provide Evgo with extra capital. In addition, UBS expects the company to achieve its first-ever positive adjusted EBITDA quarter in Q2, marking an essential step toward profitability.

Consequently, UBS expects Evgo to generate adjusted EBITDA of $3.5 million in 2025, $36.4 million in 2026, and $61.8 million in 2027. In the first quarter, the company generated $75.3 million in revenues, better than the $71.4 million that analysts expected.

Evgo, Inc. (NASDAQ:EVGO) is a leading provider of fast charging stations for electric cars, making it easier for people to own and use EVs. It builds and operates a public fast-charging network for electric vehicles.