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Is a Correction Looming Ahead for EVgo Inc. (EVGO)

EVgo Inc. (NASDAQ:EVGO) went up by 17.29% from its latest closing price compared to the recent 1-year high of $14.23. The company’s stock price has collected 6.48% of gains in the last five trading sessions. Barron’s reported on 05/11/22 that EVgo Misses Estimates. The Beaten-Up Stock Rises Anyway.

Is It Worth Investing in EVgo Inc. (NASDAQ :EVGO) Right Now?

Opinions of the stock are interesting as 6 analysts out of 14 who provided ratings for EVgo Inc. declared the stock was a “buy,” while 0 rated the stock as “overweight,” 7 rated it as “hold,” and 0 as “sell.”

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The average price from analysts is $10.52, which is $4.28 above the current price. EVGO currently public float of 68.45M and currently shorts hold a 36.32% ratio of that float. Today, the average trading volume of EVGO was 2.44M shares.

EVGO’s Market Performance

EVGO stocks went up by 6.48% for the week, with a monthly jump of 40.54% and a quarterly performance of -14.87%, while its annual performance rate touched -23.90%. The volatility ratio for the week stands at 11.06% while the volatility levels for the past 30 days are set at 10.70% for EVgo Inc. The simple moving average for the period of the last 20 days is 36.19% for EVGO stocks with a simple moving average of -21.57% for the last 200 days.

Analysts’ Opinion of EVGO

Many brokerage firms have already submitted their reports for EVGO stocks, with Jefferies repeating the rating for EVGO by listing it as a “Hold.” The predicted price for EVGO in the upcoming period, according to Jefferies is $5.50 based on the research report published on July 07th of the previous year 2022.

Credit Suisse gave a rating of “Outperform” to EVGO, setting the target price at $14 in the report published on May 12th of the previous year.

EVGO Trading at 13.21% from the 50-Day Moving Average

After a stumble in the market that brought EVGO to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -56.15% of loss for the given period.

Volatility was left at 10.70%, however, over the last 30 days, the volatility rate increased by 11.06%, as shares surge +42.47% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -8.64% lower at present.

During the last 5 trading sessions, EVGO rose by +6.48%, which changed the moving average for the period of 200-days by -53.64% in comparison to the 20-day moving average, which settled at $4.68. In addition, EVgo Inc. saw 39.60% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at EVGO starting from Levy Jonathan Maier, who sale 10,000 shares at the price of $12.04 back on Aug 16. After this action, Levy Jonathan Maier now owns 20,878 shares of EVgo Inc., valued at $120,400 using the latest closing price.

Shevorenkova Olga, the Chief Financial Officer of EVgo Inc., sale 34,463 shares at $11.95 during a trade that took place back on Aug 16, which means that Shevorenkova Olga is holding 0 shares at $411,833 based on the most recent closing price.

Stock Fundamentals for EVGO

Current profitability levels for the company are sitting at:

  • -404.39 for the present operating margin
  • -84.38 for the gross margin

The net margin for EVgo Inc. stands at -26.87. Equity return is now at value 2.80, with -4.70 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 10.80.

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