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Analysts Are Recommending EVgo Inc. (EVGO) As A Buy Candidate

EVgo Inc. (NASDAQ:EVGO) has seen 5.34 million shares traded in the last trading session. The company, currently valued at $1.61B, closed the last trade at $6.24 per share which meant it gained $0.92 on the day or 17.29% during that session. The EVGO stock price is -128.04% off its 52-week high price of $14.23 and 41.67% above the 52-week low of $3.64. If we look at the company’s 10-day average daily trading volume, we find that it stood at 3.91 million shares traded. The 3-month trading volume is 2.44 million shares.

The consensus among analysts is that EVgo Inc. (EVGO) is an Overweight stock at the moment, with a recommendation rating of 2.50. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 7 out of 14 have rated it as a Hold, with 6 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.15.

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EVgo Inc. (NASDAQ:EVGO) trade information

Sporting 17.29% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Monday, 01/23/23 when the EVGO stock price touched $6.24 or saw a rise of 1.42%. Year-to-date, EVgo Inc. shares have moved 39.60%, while the 5-day performance has seen it change 6.48%. Over the past 30 days, the shares of EVgo Inc. (NASDAQ:EVGO) have changed 40.54%. Short interest in the company has seen 21.11 million shares shorted with days to cover at 10.14.

Wall Street analysts have a consensus price target for the stock at $10.52, which means that the shares’ value could jump 40.68% from current levels. The projected low price target is $6.20 while the price target rests at a high of $21.00. In that case, then, we find that the current price level is -236.54% off the targeted high while a plunge would see the stock lose 0.64% from current levels.

EVgo Inc. (EVGO) estimates and forecasts

Figures show that EVgo Inc. shares have outperformed across the wider relevant industry. The company’s shares have lost -23.95% over the past 6 months, with this year growth rate of 10.34%, compared to 4.40% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 67.40% and -350.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be 124.00%.

11 analysts offering their estimates for the company have set an average revenue estimate of $13.29 million for the current quarter. 11 have an estimated revenue figure of $18.76 million for the next quarter concluding in Dec 2022. Year-ago sales stood $6.18 million and $7.12 million respectively for this quarter and the next, and analysts expect sales will grow by 115.00% for the current quarter and 163.50% for the next.

EVGO Dividends

EVgo Inc. is expected to release its next earnings report between March 21 and March 27 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

EVgo Inc. (NASDAQ:EVGO)’s Major holders

Insiders own 1.16% of the company shares, while shares held by institutions stand at 54.59% with a share float percentage of 55.23%. Investors are also buoyed by the number of investors in a company, with EVgo Inc. having a total of 232 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 6.25 million shares worth more than $37.55 million. As of Jun 29, 2022, Vanguard Group, Inc. (The) held 9.04% of shares outstanding.

The other major institutional holder is Blackrock Inc., with the holding of over 4.59 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $27.61 million and represent 6.65% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. As of Jun 29, 2022, the former fund manager holds about 2.93% shares in the company for having 2.03 million shares of worth $12.17 million while later fund manager owns 1.75 million shares of worth $10.54 million as of Jun 29, 2022, which makes it owner of about 2.54% of company’s outstanding stock.

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