EVgo Inc (NASDAQ:EVGO) price on Friday, October 25, fall -1.45% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $8.81.
A look at the stock’s price movement, the close in the last trading session was $8.94, moving within a range at $8.66 and $9.07. The beta value (5-Year monthly) was 2.587. Turning to its 52-week performance, $8.99 and $1.65 were the 52-week high and 52-week low respectively. Overall, EVGO moved 114.36% over the past month.
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EVgo Inc’s market cap currently stands at around $941.17 million, with investors looking forward to this quarter’s earnings report slated for on 2024-Nov-12.
Analysts have a consensus estimate of 65.71M for the company’s revenue for the quarter, with a low and high estimate of 61.3M and 68M respectively. The average forecast suggests up to a 87.20% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 257.38M, representing a 59.90% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that EVGO is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
7 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 5 recommend EVGO as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
EVGO’s current price about 23.84% and 64.82% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 73.02, while 7-day volatility ratio is 6.97% and 10.85% in the 30-day chart. Further, EVgo Inc (EVGO) has a beta value of 2.55, and an average true range (ATR) of 0.62. Analysts have given the company’s stock an average 52-week price target of $8.25, forecast between a low of $5 and high of $16. Looking at the price targets, the low is 43.25% off current price level while to achieve the yearly target high, price needs to move -81.61%. Nonetheless, investors will most likely welcome a 6.36% jump to $8.25 which is the analysts’ median price.
If we refocus on EVgo Inc (NASDAQ:EVGO), historical trading data shows that trading volumes averaged 5.92 over the past 10 days and 6.87 million over the past 3 months. The company’s latest data on shares outstanding shows there are 102.94 million shares.
The 6.46% of EVgo Inc’s shares are in the hands of company insiders while institutional holders own 44.96% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 27.82 million on 2024-09-30, giving us a short ratio of 10.18. The data shows that as of 2024-09-30 short interest in EVgo Inc (EVGO) stood at 2761.0 of shares outstanding, with shares short rising to 26.2 million registered in 2024-08-30. Current price change has pushed the stock 146.09% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the EVGO stock continues to rise going into the next quarter.
