EVgo Inc [NASDAQ: EVGO] stock went on an upward path that rose over 8.63% on Wednesday, amounting to a one-week price increase of more than 10.62%. The company report on March 6, 2024 at 7:00 AM that EVgo Inc. Reports Fourth Quarter and Full Year 2023 Results.
Revenue reached $50.0 million in the fourth quarter, representing an increase of 83% year-over-year.
For the full year 2023, revenue reached $161.0 million, an increase of 195% over full year 2022, and exceeding the high-end of the Company’s guidance range.
Over the last 12 months, EVGO stock dropped by -52.22%. The one-year EVgo Inc stock forecast points to a potential upside of 47.48. The average equity rating for EVGO stock is currently 2.25, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $312.72 million, with 103.55 million shares outstanding and 96.95 million shares in the current float. Compared to the average trading volume of 2.64M shares, EVGO stock reached a trading volume of 12871022 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 $5.75 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 2.25. 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. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price to Sector Perform. The new note on the price target was released on September 08, 2023, representing the official price target for EVgo Inc stock. Previously, the target price had yet another raise to $9, while Stifel analysts kept a Buy rating on EVGO stock.
The Average True Range (ATR) for EVgo Inc is set at 0.22, with the Price to Sales ratio for EVGO stock in the period of the last 12 months amounting to 2.26.
EVGO Stock Performance Analysis:
EVgo Inc [EVGO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.62. With this latest performance, EVGO shares gained by 54.08% in over the last four-week period, additionally sinking by -27.40% over the last 6 months – not to mention a drop of -52.22% 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 62.06, with the RSI for the last a single of trading hit 67.84, and the three-weeks RSI is set at 57.81 for EVgo Inc [EVGO]. The present Moving Average for the last 50 days of trading for this stock 2.72, while it was recorded at 2.90 for the last single week of trading, and 3.40 for the last 200 days.
Insight into EVgo Inc Fundamentals:
EVgo Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.02 and a Current Ratio set at 3.02.
EVGO Stock EPS
With the latest financial reports released by the company, EVgo Inc posted -0.06/share EPS, while the average EPS was predicted by analysts to be reported at -0.16/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 62.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for EVGO.
EVgo Inc [EVGO] Institutonal Ownership Details
The top three institutional holders of EVGO stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in EVGO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in EVGO stock with ownership which is approximately 5.8325%.
