EVgo Inc. [EVGO] is 14.79% higher this YTD. Is it still time to buy?


EVgo Inc. [NASDAQ: EVGO] traded at a low on 03/22/22, posting a -0.95 loss after which it closed the day’ session at $11.41. The company report on March 16, 2022 that EVgo and The Save Mart Companies Expand EVgo AdvantageTM Program Partnership, Introduce Promotions at Seven Additional Stores.

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Expanded EVgo Advantage program leverages proprietary software innovations to deliver coupons to customers charging at 12 locations of the California-based grocer.

EVgo Inc. (NASDAQ: EVGO), the nation’s largest public fast charging network for electric vehicles (EVs) and first powered by 100% renewable electricity, today announced an expansion to their EVgo Advantage™ program in partnership with The Save Mart Companies, California’s largest regional, family-owned grocer operating in more than 200 stores throughout California and Northern Nevada. The EVgo Advantage platform enables drivers to use promotions delivered from EVgo after a charging session is started at one of the Save Mart, Lucky California, or FoodMaxx locations. Since the program began in 2019, EVgo has been running promotions at five Lucky/Lucky California locations and will now add seven additional Lucky California and Save Mart stores to the program. EVgo Advantage helps retailers capture increased traffic from EV charging customers and differentiate against nearby retailers while also delivering more value to EV drivers who shop while they charge.

The results of the trading session contributed to over 4793820 shares changing hands. Over the past one week, the price volatility of EVgo Inc. stands at 6.85% while the volatility over the past one month is 7.90%.

The market cap for EVGO stock reached $3.10 billion, with 68.74 million shares outstanding and 68.17 million shares in the current float. Compared to the average trading volume of 3.27M shares, EVGO reached a trading volume of 4793820 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about EVgo Inc. [EVGO]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EVGO shares is $15.14 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EVGO stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Needham have made an estimate for EVgo Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on December 28, 2021. While these analysts kept the previous recommendation, JP Morgan raised their target price to Overweight. The new note on the price target was released on December 09, 2021, representing the official price target for EVgo Inc. stock. Previously, the target price had yet another raise to $18, while CapitalOne analysts kept a Equal Weight rating on EVGO stock. On November 15, 2021, analysts increased their price target for EVGO shares from 11 to 17.

The Average True Range (ATR) for EVgo Inc. is set at 0.85, with the Price to Sales ratio for EVGO stock in the period of the last 12 months amounting to 499.37. The Price to Book ratio for the last quarter was 2.46, with the Price to Cash per share for the same quarter was set at 0.97.

How has EVGO stock performed recently?

EVgo Inc. [EVGO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.38. With this latest performance, EVGO shares gained by 14.10% in over the last four-week period, additionally plugging by 45.72% over the last 6 months – not to mention a drop of -8.21% in the past year of trading.

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 54.26, with the RSI for the last a single of trading hit 50.92, and the three-weeks RSI is set at 54.81 for EVgo Inc. [EVGO]. The present Moving Average for the last 50 days of trading for this stock 9.71, while it was recorded at 12.02 for the last single week of trading, and 10.63 for the last 200 days.

EVgo Inc. [EVGO]: Deeper insight into the fundamentals

EVgo Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 42.80 and a Current Ratio set at 42.80.

Insider trade positions for EVgo Inc. [EVGO]

There are presently around $300 million, or 42.80% of EVGO stock, in the hands of institutional investors. The top three institutional holders of EVGO stocks are: PICTET ASSET MANAGEMENT SA with ownership of 3,991,750, which is approximately 47.937% of the company’s market cap and around 0.24% of the total institutional ownership; VANGUARD GROUP INC, holding 2,654,195 shares of the stock with an approximate value of $30.58 million in EVGO stocks shares; and BANQUE PICTET & CIE SA, currently with $29.12 million in EVGO stock with ownership of nearly New of the company’s market capitalization.

Positions in EVgo Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 95 institutional holders increased their position in EVgo Inc. [NASDAQ:EVGO] by around 12,814,806 shares. Additionally, 58 investors decreased positions by around 9,652,135 shares, while 19 investors held positions by with 3,605,147 shares. The mentioned changes placed institutional holdings at 26,072,088 shares, according to the latest SEC report filing. EVGO stock had 61 new institutional investments in for a total of 6,259,367 shares, while 27 institutional investors sold positions of 4,624,232 shares during the same period.