Are Smart Investors Making the Right Decision? EVgo Inc. (EVGO)

EVgo Inc. (NASDAQ: EVGO) stock jumped 2.70% on Friday to $5.32 against a previous-day closing price of $5.18. With 2.36 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.41 million shares. During the session, the Specialty Retail company that operates in wider Consumer Cyclical sector, reached to the highest price of $5.38 whereas the lowest price it dropped to was $5.10. The 52-week range on EVGO shows that it touched its highest point at $14.23 and its lowest point at $3.64 during that stretch. It currently has a 1-year price target of $10.52.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of EVGO was down-trending over the past week, with a drop of -7.48%, but this was up by 8.57% over a month. Three-month performance dropped to -27.72% while six-month performance fell -42.11%. The stock lost -36.21% in the past year, while it has gained 19.02% so far this year. A look at the trailing 12-month EPS for EVGO yields -0.27 with Next year EPS estimates of -0.44. For the next quarter, that number is -0.16. This implies an EPS growth rate of 87.70% for this year and 6.40% for next year.

Float and Shares Shorts:

At present, 68.62 million EVGO shares are outstanding with a float of 68.45 million shares on hand for trading. On Oct 13, 2022, short shares totaled 21.11 million, which was 30.56% higher than short shares on Sep 14, 2022. In addition to Ms. Catherine Zoi as the firm’s CEO & Director, Ms. Olga Shevorenkova serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 54.59% of EVGO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 32.28% of EVGO, in contrast to 21.17% held by mutual funds. Shares owned by individuals account for 1.49%. As the largest shareholder in EVGO with 9.04% of the stake, The Vanguard Group, Inc. holds 6,271,475 shares worth 6,271,475. A second-largest stockholder of EVGO, BlackRock Fund Advisors, holds 4,148,951 shares, controlling over 5.98% of the firm’s shares. Pictet Asset Management SA is the third largest shareholder in EVGO, holding 2,000,003 shares or 2.88% stake. With a 3.58% stake in EVGO, the Invesco WilderHill Clean Energy E is the largest stakeholder. A total of 2,482,693 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 3.00% of EVGO stock, is the second-largest Mutual Fund holder. It holds 2,082,073 shares valued at 9.31 million. Vanguard Small Cap Index Fund holds 2.58% of the stake in EVGO, owning 1,786,416 shares worth 7.99 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for EVGO since 14 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 7 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With EVGO analysts setting a high price target of $21.00 and a low target of $6.20, the average target price over the next 12 months is $10.52. Based on these targets, EVGO could surge 294.74% to reach the target high and rise by 16.54% to reach the target low. Reaching the average price target will result in a growth of 97.74% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. EVGO will report FY 2022 earnings on 03/20/2024. Analysts have provided yearly estimates in a range of -$0.38 being high and -$0.52 being low. For EVGO, this leads to a yearly average estimate of -$0.46. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. EVgo Inc. surprised analysts by -$0.03 when it reported -$0.19 EPS against a consensus estimate of -$0.16. The surprise factor in the prior quarter was $0.16. Based on analyst estimates, the high estimate for the next quarter is -$0.09 and the low estimate is -$0.43. The average estimate for the next quarter is thus -$0.18.

Summary of Insider Activity:

Insiders traded EVGO stock several times over the past three months with 1 Buys and 0 Sells. In these transactions, 103,493 shares were bought while 0 shares were sold. The number of buy transactions has increased to 8 while that of sell transactions has risen to 7 over the past year. The total number of shares bought during that period was 380,564 while 137,055 shares were sold.

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