A better buy-in window may exist right now for EVgo Inc. (EVGO)

EVgo Inc. (NASDAQ: EVGO) stock fell -5.33% on Monday to $3.73 against a previous-day closing price of $3.94. With 2.43 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.7 million shares. During the session, the Specialty Retail company that operates in wider Consumer Cyclical sector, reached to the highest price of $3.9100 whereas the lowest price it dropped to was $3.7050. The 52-week range on EVGO shows that it touched its highest point at $9.88 and its lowest point at $3.45 during that stretch. It currently has a 1-year price target of $6.72. Beta for the stock currently stands at 1.96.

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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 -0.53%, but this was down by -10.77% over a month. Three-month performance dropped to -15.03% while six-month performance fell -32.18%. The stock lost -63.21% in the past year, while it has lost -16.55% so far this year. A look at the trailing 12-month EPS for EVGO yields -0.49 with Next year EPS estimates of -0.67. For the next quarter, that number is -0.21. This implies an EPS growth rate of -357.40% for this year and -13.60% for next year.

Float and Shares Shorts:

At present, 299.19 million EVGO shares are outstanding with a float of 102.77 million shares on hand for trading. On Aug 30, 2023, short shares totaled 19.1 million, which was 18.48% higher than short shares on Jul 30, 2023. In addition to AVGO as the firm’s Broadcom Inc., EZGO serves as its EZGO Technologies Ltd.

Institutional Ownership:

Through their ownership of 36.69% of EVGO’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 6.31% of EVGO, in contrast to 24.09% held by mutual funds. Shares owned by individuals account for 21.35%. As the largest shareholder in EVGO with 8.65% of the stake, The Vanguard Group, Inc. holds 8,941,191 shares worth 8,941,191. A second-largest stockholder of EVGO, BlackRock Fund Advisors, holds 5,178,809 shares, controlling over 5.01% of the firm’s shares. Pictet Asset Management SA is the third largest shareholder in EVGO, holding 3,272,264 shares or 3.17% stake. With a 3.08% stake in EVGO, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 3,179,153 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 2.56% of EVGO stock, is the second-largest Mutual Fund holder. It holds 2,648,157 shares valued at 10.65 million. Invesco WilderHill Clean Energy E holds 2.09% of the stake in EVGO, owning 2,164,198 shares worth 8.7 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, EVGO reported revenue of $9.08M and operating income of -$37.05M. The EBITDA in the recently reported quarter was -$32.13M and diluted EPS was $0.06.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for EVGO since 0 analysts follow the stock currently. 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 $12.00 and a low target of $1.00, the average target price over the next 12 months is $6.75. Based on these targets, EVGO could surge 221.72% to reach the target high and fall by -73.19% to reach the target low. Reaching the average price target will result in a growth of 80.97% 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.

Summary of Insider Activity:

Insiders traded EVGO stock several times over the past three months with 0 Buys and 4 Sells. In these transactions, 0 shares were bought while 61,444 shares were sold. The number of buy transactions has increased to 19 while that of sell transactions has risen to 10 over the past year. The total number of shares bought during that period was 6,522,567 while 210,950 shares were sold.

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