The stock of EVgo Inc. (NASDAQ:EVGO) increased by $0.17 on Tuesday to finish at $4.15, up 4.27 percent. The last five days have seen an average of 2,441,840 shares of common stock traded. 11 times new highs were reached in the current year, with a fall of -$0.32. The average number of shares traded over the last 20 days was 4,358,395, while the average volume over the last 50 days totaled 3,772,750.
EVGO stock dropped -5.03% since last month. On 08/25/23, the company’s shares reached a one-month low of $3.72. The stock touched a high of $10.55 on 03/31/23, after rallying from a low of $3.45 in 52 weeks. The price of EVGO stock has declined by -7.16% or -$0.32 this year, reaching a new high 11 times. Still, the stock price is down -60.66% from the 52-week high.
Insider Transactions
EVGO stock investors should be aware that EVgo Inc. (EVGO) stock had its last reported insider trading activity 20 days ago on Aug 10. On Aug 10, CLO and General Counsel Sullivan Francine sold 600 shares at $4.74 each. This transaction resulted in the insider making $2,844. On Aug 09, Shevorenkova Olga sold 17,162 shares at a price of US$4.80. After the transaction, the insider now owns 35,820 shares. Chief Operating Officer KISH DENNIS G had earlier sold 37,844 shares on Aug 08 for $4.89 a share. The transaction was completed for $185,057.
Financial Health
For the recent quarter, EVgo Inc.’s quick ratio was 3.70, while its current ratio was 3.70, indicating its ability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 1.10% percent. Based on annual data, it had gross profit of -$5.65 million and revenue of $54.59 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. EVGO’s return on assets (ROA) during the last 12 months has been -5.00%. There was a 41.80% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 5.70%.
Earnings Surprise
A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $50.55 million, while revenues rose by 82.04% to $25.3 million. EBITDA was -$21.52 million for the quarter. At the end of EVgo Inc.’s most recent quarter, its liabilities totaled 1.02 billion, while its total debt was $53.33 million. Equity owned by shareholders amounts to $299.19 million.
Technical Picture
Here’s a quick look at EVgo Inc.’s (EVGO) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 48.69%, suggesting the stock is Neutral, with a 46.29% historical volatility rate.
The stochastic %K and %D were 23.78% and 13.21% respectively, while the average true range (ATR) was 0.26. Based on the 14-day stochastic reading of 39.27%, the RSI (14) reading is 47.49%. On the 9-day MACD Oscillator, the stock is at -0.04, and the 14-day reading is at -0.17.
Analyst Ratings
In its analyst report released on May 17, 2023, Stifel began covering EVgo Inc. (NASDAQ: EVGO). The stock was rated as a Buy by the brokerage firm. Analysts have assigned EVgo Inc. (EVGO) an Overweight rating. EVGO is a stock that is recommended for selling by 0 brokerage firms, while 6 companies recommend holding. The stock is underweighted by 2 analysts. Among the analysts who rate the stock, 0 rates it overweight and 5 others recommend it as a buy.
What is EVGO’s price target for the next 12 months?
The current consensus forecast for the stock is between $1.00 and $12.00, with a median target price of $7.00. In analyzing these forecasts, the average price target given by analysts for EVgo Inc. (EVGO) is $6.93.
