EVgo Inc. [EVGO] Stock trading around $10.61 per share: What’s Next?

EVgo Inc. [NASDAQ: EVGO] gained 14.58% or 1.35 points to close at $10.61 with a heavy trading volume of 4894329 shares. The company report on August 9, 2022 that EVgo Inc. Reports Second Quarter 2022 Results.


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Network throughput reached 10.1 Gigawatt-hours (“GWh”) in the second quarter of 2022, an increase of 66% year-over-year.

Revenue grew to $9.1 million in the second quarter of 2022, representing an increase of 90% year-over-year.

It opened the trading session at $9.71, the shares rose to $10.80 and dropped to $9.4608, the range by which the price of stock traded the whole day. The daily chart for EVGO points out that the company has recorded 17.24% gains over the past six months. However, it is still -100.95% lower than its most recent low trading price.

If we look at the average trading volume of 2.92M shares, EVGO reached to a volume of 4894329 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 $11.39 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 2.30. 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 0.75, with the Price to Sales ratio for EVGO stock in the period of the last 12 months amounting to 94.77.

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 19.08. With this latest performance, EVGO shares gained by 68.15% in over the last four-week period, additionally plugging by 17.24% over the last 6 months – not to mention a drop of -0.93% 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 66.61, with the RSI for the last a single of trading hit 71.43, and the three-weeks RSI is set at 62.47 for EVgo Inc. [EVGO]. The present Moving Average for the last 50 days of trading for this stock 8.07, while it was recorded at 9.67 for the last single week of trading, and 10.03 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 $372 million, or 53.00% 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 1.11% of the total institutional ownership; CI INVESTMENTS INC., holding 3,610,058 shares of the stock with an approximate value of $38.3 million in EVGO stocks shares; and PICTET ASSET MANAGEMENT SA, currently with $32.46 million in EVGO stock with ownership of nearly -15.968% 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 85 institutional holders increased their position in EVgo Inc. [NASDAQ:EVGO] by around 15,111,785 shares. Additionally, 65 investors decreased positions by around 5,554,331 shares, while 40 investors held positions by with 14,375,622 shares. The mentioned changes placed institutional holdings at 35,041,738 shares, according to the latest SEC report filing. EVGO stock had 44 new institutional investments in for a total of 10,163,623 shares, while 29 institutional investors sold positions of 2,781,723 shares during the same period.

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