EVgo Inc. [NASDAQ: EVGO] stock went on a downward path that fall over -15.26% on Wednesday, amounting to a one-week price decrease of less than -21.26%. The company report on June 27, 2022 that EVgo and General Motors Activate Plug and Charge Across EVgo Network.
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EVgo and GM technical collaboration provides streamlined charging experience; latest Autocharge technology available as Plug and Charge on GM brand apps.
EVgo Inc. (NASDAQ: EVGO), the nation’s largest public fast charging network for electric vehicles (EVs), and General Motors (GM) today announced the availability of Plug and Charge for all GM EVs* with DC fast-charging capability on the EVgo network.
Over the last 12 months, EVGO stock dropped by -60.22%. The one-year EVgo Inc. stock forecast points to a potential upside of 55.66. The average equity rating for EVGO stock is currently 2.40, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $1.71 billion, with 68.02 million shares outstanding and 67.98 million shares in the current float. Compared to the average trading volume of 2.52M shares, EVGO stock reached a trading volume of 9949335 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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 $13.78 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 2.40. 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.
CapitalOne have made an estimate for EVgo Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on June 08, 2022. The new note on the price target was released on May 12, 2022, representing the official price target for EVgo Inc. stock. Previously, the target price had yet another raise to $14, while Cantor Fitzgerald analysts kept a Overweight rating on EVGO stock.
The Average True Range (ATR) for EVgo Inc. is set at 0.63, with the Price to Sales ratio for EVGO stock in the period of the last 12 months amounting to 57.28.
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 -21.26. With this latest performance, EVGO shares dropped by -37.53% in over the last four-week period, additionally sinking by -37.33% over the last 6 months – not to mention a drop of -60.22% 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 28.34, with the RSI for the last a single of trading hit 21.72, and the three-weeks RSI is set at 32.93 for EVgo Inc. [EVGO]. The present Moving Average for the last 50 days of trading for this stock 8.90, while it was recorded at 7.32 for the last single week of trading, and 10.06 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 8.20 and a Current Ratio set at 8.20.
EVgo Inc. [EVGO] Insider Position Details
There are presently around $239 million, or 49.80% of EVGO stock, in the hands of institutional investors. The top three institutional holders of EVGO stocks are: VANGUARD GROUP INC with ownership of 5,882,535, which is approximately 121.632% of the company’s market cap and around 1.12% of the total institutional ownership; PICTET ASSET MANAGEMENT SA, holding 3,641,110 shares of the stock with an approximate value of $26.25 million in EVGO stocks shares; and CI INVESTMENTS INC., currently with $26.03 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 74 institutional holders increased their position in EVgo Inc. [NASDAQ:EVGO] by around 12,890,796 shares. Additionally, 72 investors decreased positions by around 5,736,441 shares, while 34 investors held positions by with 14,547,051 shares. The mentioned changes placed institutional holdings at 33,174,288 shares, according to the latest SEC report filing. EVGO stock had 33 new institutional investments in for a total of 8,483,808 shares, while 38 institutional investors sold positions of 3,377,793 shares during the same period.