Cantor Fitzgerald lifts EVgo Inc. [EVGO] price estimate. Who else is bullish?

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EVgo Inc. [NASDAQ: EVGO] price surged by 0.42 percent to reach at $0.04. The company report on April 27, 2022 that EVgo Announces Timing of First Quarter 2022 Earnings Results Conference Call.

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EVgo Inc. (“EVgo”), the nation’s largest public fast charging network for electric vehicles (EVs) and first powered by 100% renewable electricity, today announced that it will release its first quarter 2022 financial results before market open on Wednesday, May 11th, 2022. This release will be followed by a conference call hosted by members of the EVgo management team at 11:00 AM Eastern Time.

Interested investors and other parties may access a live webcast of the conference available on the Events & Presentations page in the Investor Relations section of EVgo’s website at https://investors.evgo.com/events-and-presentations. The call can also be accessed live over the telephone by dialing (877) 407-4018 or for international callers, (201) 689-8471 and referencing EVgo. A replay will be available after the call and can be accessed by dialing (844) 512-2921 or for international callers, (412) 317-6671 and using the PIN 13729219. The replay will be available until May 25, 2022. Please log in to the webcast or dial in to the call at a minimum 10 minutes before the start of the event.

A sum of 2673712 shares traded at recent session while its average daily volume was at 3.04M shares. EVgo Inc. shares reached a high of $9.7959 and dropped to a low of $8.975 until finishing in the latest session at $9.60.

The one-year EVGO stock forecast points to a potential upside of 36.51. The average equity rating for EVGO stock is currently 2.50, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $15.12 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.

Cantor Fitzgerald have made an estimate for EVgo Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on April 28, 2022. While these analysts kept the previous recommendation, Tudor Pickering Holt & Co. raised their target price to Buy. The new note on the price target was released on April 21, 2022, representing the official price target for EVgo Inc. stock.

The Average True Range (ATR) for EVgo Inc. is set at 0.87, with the Price to Sales ratio for EVGO stock in the period of the last 12 months amounting to 432.62. The Price to Book ratio for the last quarter was 2.07, with the Price to Cash per share for the same quarter was set at 0.95.

EVGO Stock Performance Analysis:

EVgo Inc. [EVGO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.00. With this latest performance, EVGO shares dropped by -25.98% in over the last four-week period, additionally plugging by 15.11% over the last 6 months – not to mention a drop of -27.16% 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 36.58, with the RSI for the last a single of trading hit 30.23, and the three-weeks RSI is set at 40.92 for EVgo Inc. [EVGO]. The present Moving Average for the last 50 days of trading for this stock 11.38, while it was recorded at 9.84 for the last single week of trading, and 10.36 for the last 200 days.

Insight into EVgo Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and EVgo Inc. [EVGO] shares currently have an operating margin of -404.39 and a Gross Margin at -84.38. EVgo Inc.’s Net Margin is presently recorded at -26.87.

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

EVgo Inc. [EVGO] Insider Position Details

There are presently around $250 million, or 43.40% 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 $25.48 million in EVGO stocks shares; and BANQUE PICTET & CIE SA, currently with $24.26 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 May and at the time of the May reporting period, where 91 institutional holders increased their position in EVgo Inc. [NASDAQ:EVGO] by around 12,731,516 shares. Additionally, 60 investors decreased positions by around 9,304,351 shares, while 24 investors held positions by with 4,008,726 shares. The mentioned changes placed institutional holdings at 26,044,593 shares, according to the latest SEC report filing. EVGO stock had 57 new institutional investments in for a total of 6,175,382 shares, while 28 institutional investors sold positions of 4,351,221 shares during the same period.