EVgo Inc [NASDAQ: EVGO] jumped around 0.23 points on Thursday, while shares priced at $2.35 at the close of the session, up 10.85%. The company report on November 1, 2023 at 7:00 AM that EVgo’s Prefabricated Charging Infrastructure Deployment Model Expected to Cut Installation Timelines by 50% on Average.
Leveraging a leading-edge prefabrication model to streamline fast charger deployment at eligible sites, EVgo announces plan to reduce installation time and costs for new fast charging stations while elevating the customer experience.
EVgo Inc. (NASDAQ: EVGO) (“EVgo” or the “Company”), one of the nation’s largest public fast charging networks for electric vehicles (EVs), today announced it is using an innovative prefabrication approach to new station installation that is anticipated to cut average station installation time in half and save an average of 15% in station construction costs at eligible sites. With a scalable design that starts at six fast charging stalls—supporting EVgo’s focus on expanding stall counts to bolster resiliency—the prefabrication model further standardizes EVgo’s construction process and station layout by utilizing a modular skid.
EVgo Inc stock is now -47.43% down from its year-to-date (YTD) trading value. EVGO Stock saw the intraday high of $2.38 and lowest of $2.19 per share. The company’s 52-week high price is 8.16, which means current price is +25.00% above from all time high which was touched on 03/31/23.
Compared to the average trading volume of 3.22M shares, EVGO reached a trading volume of 3206732 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus 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 $7.03 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 2.42. 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.
TD Cowen have made an estimate for EVgo Inc shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on October 25, 2023.
The Average True Range (ATR) for EVgo Inc is set at 0.20, with the Price to Sales ratio for EVGO stock in the period of the last 12 months amounting to 2.14.
How has EVGO stock performed recently?
EVgo Inc [EVGO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.86. With this latest performance, EVGO shares dropped by -25.40% in over the last four-week period, additionally sinking by -60.50% over the last 6 months – not to mention a drop of -68.03% 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 37.33, with the RSI for the last a single of trading hit 41.89, and the three-weeks RSI is set at 36.53 for EVgo Inc [EVGO]. The present Moving Average for the last 50 days of trading for this stock 3.26, while it was recorded at 2.16 for the last single week of trading, and 4.76 for the last 200 days.
EVgo Inc [EVGO]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and EVgo Inc [EVGO] shares currently have an operating margin of -273.88 and a Gross Margin at -41.75. EVgo Inc’s Net Margin is presently recorded at -51.04.
Reflecting on the efficiency of the workforce at the company, EVgo Inc [EVGO] managed to generate an average of -$94,441 per employee. Receivables Turnover for the company is 3.33 with a Total Asset Turnover recorded at a value of 0.07.EVgo Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.66 and a Current Ratio set at 3.66.
Insider trade positions for EVgo Inc [EVGO]
The top three institutional holders of EVGO stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in EVGO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in EVGO stock with ownership which is approximately 5.7994%.