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

EVgo Inc. [NASDAQ: EVGO] closed the trading session at $4.38 on 12/21/22. The day’s price range saw the stock hit a low of $4.36, while the highest price level was $4.53. The company report on December 13, 2022 that EVgo and Lyft Launch New Partnership to Accelerate Rideshare Electrification Nationwide.

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Drivers on the Lyft platform can enjoy discounted charging on the rapidly expanding EVgo fast charging network.

EVgo Inc. (NASDAQ: EVGO), one of the nation’s largest public fast charging networks for electric vehicles (EVs), today announced the launch of a new EV charging discount program for rideshare drivers on the Lyft platform. This expansion of EVgo and Lyft’s collaboration demonstrates the companies’ shared commitment to achieving mass EV adoption and increases access to convenient fast charging infrastructure for rideshare drivers.

The stocks have a year to date performance of -55.94 percent and weekly performance of -20.94 percent. The stock has been moved at -46.13 percent over the last six months. The stock has performed -31.99 percent around the most recent 30 days and changed -47.61 percent over the most recent 3-months.

If compared to the average trading volume of 1.76M shares, EVGO reached to a volume of 2726879 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $10.77 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 0.32, with the Price to Sales ratio for EVGO stock in the period of the last 12 months amounting to 35.20.

EVGO stock trade performance evaluation

EVgo Inc. [EVGO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.94. With this latest performance, EVGO shares dropped by -31.99% in over the last four-week period, additionally sinking by -46.13% over the last 6 months – not to mention a drop of -57.48% 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 19.96, with the RSI for the last a single of trading hit 12.81, and the three-weeks RSI is set at 26.08 for EVgo Inc. [EVGO]. The present Moving Average for the last 50 days of trading for this stock 6.54, while it was recorded at 4.86 for the last single week of trading, and 8.68 for the last 200 days.

EVgo Inc. [EVGO]: An insightful look at the core 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 4.30 and a Current Ratio set at 4.30.

EVgo Inc. [EVGO]: Insider Ownership positions

There are presently around $151 million, or 52.10% of EVGO stock, in the hands of institutional investors. The top three institutional holders of EVGO stocks are: VANGUARD GROUP INC with ownership of 6,389,649, which is approximately 2.277% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 4,555,592 shares of the stock with an approximate value of $19.95 million in EVGO stocks shares; and PICTET ASSET MANAGEMENT SA, currently with $8.76 million in EVGO stock with ownership of nearly -34.634% of the company’s market capitalization.

Positions in EVgo Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 98 institutional holders increased their position in EVgo Inc. [NASDAQ:EVGO] by around 4,321,925 shares. Additionally, 69 investors decreased positions by around 9,245,450 shares, while 42 investors held positions by with 20,860,483 shares. The mentioned changes placed institutional holdings at 34,427,858 shares, according to the latest SEC report filing. EVGO stock had 35 new institutional investments in for a total of 2,210,113 shares, while 29 institutional investors sold positions of 4,860,504 shares during the same period.


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