Reviewing The Case For EVgo Inc (EVGO) Going Higher

Currently, there are 102.94M common shares owned by the public and among those 99.98M shares have been available to trade.

The company’s stock has a 5-day price change of 67.39% and 142.31% over the past three months. EVGO shares are trading 93.58% year to date (YTD), with the 12-month market performance up to 126.47% higher. It has a 12-month low price of $1.65 and touched a high of $7.69 over the same period. EVGO has an average intraday trading volume of 6.12 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 55.50%, 68.21%, and 138.19% respectively.

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Institutional ownership of EVgo Inc (NASDAQ: EVGO) shares accounts for 44.99% of the company’s 102.94M shares outstanding.

It has a market capitalization of $740.33M and a beta (3y monthly) value of 2.49. The earnings-per-share (ttm) stands at -$0.41. Price movements for the stock have been influenced by the stock’s volatility, which stands at 17.50% over the week and 9.02% over the month.

Earnings per share for the fiscal year are expected to increase by 6.41%, and 27.39% over the next financial year.

Looking at the support for the EVGO, a number of firms have released research notes about the stock. TD Cowen stated their Buy rating for the stock in a research note on October 03, 2024, with the firm’s price target at $5-$7. JP Morgan coverage for the EVgo Inc (EVGO) stock in a research note released on October 03, 2024 offered a Overweight rating with a price target of $7. UBS was of a view on July 22, 2024 that the stock is Neutral, while The Benchmark Company gave the stock Buy rating on June 05, 2024, issuing a price target of $3. Cantor Fitzgerald on their part issued Overweight rating on May 09, 2024.

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