EVgo Inc (NASDAQ:EVGO) shares, rose in value, without any change to the previous day’s close as strong demand from buyers drove the stock to $2.21.
Actively observing the price movement in the last trading, the stock closed the session at $2.21. The value of beta (5-year monthly) was 2.50. Referring to stock’s 52-week performance, its high was $7.90, and the low was $1.88. On the whole, EVGO has fluctuated by -22.73% over the past month.
With the market capitalization of EVgo Inc currently standing at about $233.64 million, investors are eagerly awaiting this quarter’s results, scheduled for May 07, 2024 – May 13, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.11, which is expected to increase to $0 for fiscal year -$0.37 and then to about -$0.22 by fiscal year 2025. Data indicates that the EPS growth is expected to be 19.60% in 2025, while the next year’s EPS growth is forecast to be 40.50%.
Analysts have estimated the company’s revenue for the quarter at $52.09 million, with a low estimate of $44 million and a high estimate of $56.1 million. According to the average forecast, sales growth in current quarter could jump up 105.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $251.15 million, representing an increase of 56.00% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that EVGO’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of EVGO currently trading nearly -12.70% and -11.66% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 39.89, while the 7-day volatility ratio is showing 7.02% which for the 30-day chart, stands at 7.64%. Furthermore, EVgo Inc (EVGO)’s beta value is 2.47, and its average true range (ATR) is 0.19.
A comparison of EVgo Inc (EVGO) with its peers suggests the former has fared considerably weaker in the market. EVGO showed an intraday change of 0.00% in last session, and over the past year, it shrunk by -71.63%%.
Data on historical trading for EVgo Inc (NASDAQ:EVGO) indicates that the trading volumes over the past 10 days have averaged 2.74 million and over the past 3 months, they’ve averaged 2.89 million. According to company’s latest data on outstanding shares, there are 102.94 million shares outstanding.
Nearly 6.30% of EVgo Inc’s shares belong to company insiders and institutional investors own 46.73% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 25.18 million shares as on Mar 15, 2024, resulting in a short ratio of 7.86. According to the data, the short interest in EVgo Inc (EVGO) stood at 23.82% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 23.88 million. The stock has fallen by -38.27% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the EVGO stock heading into the next quarter.
