Market Analysts see EVgo Inc. [EVGO] gaining to $5.50. Time to buy?



EVgo Inc. [NASDAQ: EVGO] gained 11.62% on the last trading session, reaching $7.11 price per share at the time. The company report on July 14, 2022 that EVgo Announces EVgo eXtend Project to Deploy High Power Fast Charging Access to Drivers Across the US.

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New agreement with Pilot Company and General Motors to bring 2,000 charging stalls operated and networked through EVgo eXtend over the next few years.

EVgo Inc. (NASDAQ: EVGO) (EVgo), the nation’s largest public fast charging network for electric vehicles (EVs), today announced the first major EVgo eXtend project. The EVgo eXtend project will deploy 2,000 charging stalls at Pilot and Flying J locations across the country in collaboration with General Motors (GM) and Pilot Company. EVgo will install, operate, and maintain the network of 350 kW charging stalls for Pilot Company and GM at up to 500 Pilot and Flying J travel centers across more than 40 states.

EVgo Inc. represents 68.02 million in outstanding shares, while the company has a total market value of $1.81 billion with the latest information. EVGO stock price has been found in the range of $6.02 to $7.24.

If compared to the average trading volume of 2.65M shares, EVGO reached a trading volume of 9694446 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]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EVGO shares is $12.95 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.

Jefferies have made an estimate for EVgo Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on July 07, 2022. The new note on the price target was released on June 08, 2022, representing the official price target for EVgo Inc. stock. Previously, the target price had yet another raise to $14, while Credit Suisse analysts kept a Outperform rating on EVGO stock.

The Average True Range (ATR) for EVgo Inc. is set at 0.60, with the Price to Sales ratio for EVGO stock in the period of the last 12 months amounting to 60.69.

Trading performance analysis for EVGO stock

EVgo Inc. [EVGO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.09. With this latest performance, EVGO shares dropped by -11.35% in over the last four-week period, additionally sinking by -25.94% over the last 6 months – not to mention a drop of -32.80% 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 48.30, with the RSI for the last a single of trading hit 54.79, and the three-weeks RSI is set at 45.65 for EVgo Inc. [EVGO]. The present Moving Average for the last 50 days of trading for this stock 8.16, while it was recorded at 6.52 for the last single week of trading, and 9.97 for the last 200 days.

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

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.

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

There are presently around $211 million, or 49.70% 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 $23.19 million in EVGO stocks shares; and CI INVESTMENTS INC., currently with $23.0 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 August and at the time of the August reporting period, where 76 institutional holders increased their position in EVgo Inc. [NASDAQ:EVGO] by around 12,850,020 shares. Additionally, 72 investors decreased positions by around 5,744,597 shares, while 33 investors held positions by with 14,455,740 shares. The mentioned changes placed institutional holdings at 33,050,357 shares, according to the latest SEC report filing. EVGO stock had 36 new institutional investments in for a total of 8,528,331 shares, while 37 institutional investors sold positions of 3,367,304 shares during the same period.