EVgo Inc. [EVGO] is 12.79% higher this YTD. Is it still time to buy?

EVgo Inc. [NASDAQ: EVGO] gained 14.18% or 1.5 points to close at $12.08 with a heavy trading volume of 10414789 shares. The company report on July 15, 2021 that EVgo Named by GM as a Preferred Provider for EV Fleets.

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EVgo will plan and deploy EV charging and infrastructure solutions for GM fleet and BrightDrop customers.

EVgo Inc., (NASDAQ: EVGO), the nation’s largest public fast charging network for electric vehicles (EVs) and first powered by 100% renewable electricity, announced that General Motors Company (GM) has named it a preferred provider for the company’s Ultium Charge 360 fleet service. With the announcement, EVgo will deploy comprehensive new charging and infrastructure solutions specifically for GM fleet and BrightDrop customers; in addition, these customers can receive program discounts at EVgo’s nationwide network of more than 800 public fast charging locations.

It opened the trading session at $10.95, the shares rose to $13.50 and dropped to $10.40, the range by which the price of stock traded the whole day. The daily chart for EVGO points out that the company has recorded -5.63% loss over the past six months. However, it is still -23.9% lower than its most recent low trading price.

If we look at the average trading volume of 773.83K shares, EVGO reached to a volume of 10414789 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about EVgo Inc. [EVGO]:

The Average True Range (ATR) for EVgo Inc. is set at 1.20 The Price to Book ratio for the last quarter was 2.19, with the Price to Cash per share for the same quarter was set at 0.00.

Trading performance analysis for EVGO stock

EVgo Inc. [EVGO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.51. With this latest performance, EVGO shares dropped by -12.53% in over the last four-week period, additionally sinking by -5.63% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EVGO stock in for the last two-week period is set at 43.05, with the RSI for the last a single of trading hit 41.39, and the three-weeks RSI is set at 44.89 for EVgo Inc. [EVGO]. The present Moving Average for the last 50 days of trading for this stock 12.79, while it was recorded at 11.56 for the last single week of trading.

EVgo Inc. [EVGO]: A deeper dive into fundamental analysis

EVgo Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.40.

An analysis of insider ownership at EVgo Inc. [EVGO]

There are presently around $55 million, or 2.50% of EVGO stock, in the hands of institutional investors. The top three institutional holders of EVGO stocks are: MEREWETHER INVESTMENT MANAGEMENT, LP with ownership of 769,939, which is approximately New of the company’s market cap and around 0.13% of the total institutional ownership; LUMINUS MANAGEMENT LLC, holding 500,000 shares of the stock with an approximate value of $6.04 million in EVGO stocks shares; and POINT72 ASSET MANAGEMENT, L.P., currently with $5.84 million in EVGO stock with ownership of nearly New of the company’s market capitalization.

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Positions in EVgo Inc. stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 49 institutional holders increased their position in EVgo Inc. [NASDAQ:EVGO] by around 3,737,202 shares. Additionally, 40 investors decreased positions by around 10,879,733 shares, while 2 investors held positions by with 10,060,194 shares. The mentioned changes placed institutional holdings at 4,556,741 shares, according to the latest SEC report filing. EVGO stock had 46 new institutional investments in for a total of 3,649,332 shares, while 35 institutional investors sold positions of 9,895,616 shares during the same period.

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