With 102.94M Outstanding Shares, Can EVgo Inc (NASDAQ: EVGO) Deliver Big Short-Term Gains?

EVgo Inc (NASDAQ:EVGO) currently has a daily average trading volume of 3.12M but it saw 6432619 shares traded in last market. With a market cap of 339.94M USD, the company’s current market price of $3.20 came rising about 11.89 while comparing to the previous closing price of $2.86. In past 52 weeks, the stock remained buoying in the range of price level as high as $5.95 and as low as $1.65.

Taking a look at 20-day trading activity of EVgo Inc (EVGO) gives us an average price of $2.37, while its current price level is -46.22% below from 52-week high level whereas it is 93.94% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $2.17 while that of 200 days or SMA-200 reads an average of $2.57. A closer look into the stock’s movement over the week reveals that its volatility is standing at 10.06% during that period while stretching the period over a month that decreases to 8.21%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 78.42 which implies that the stock is in overbought territory.

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The company’s shares got several price updates from the analyst firms in past one month and most recent of them is from the The Benchmark Company which initiated the stock as “Buy” in its note to investors issued on June 05, 2024, recommending a price target of $3 for it. Cantor Fitzgerald upgraded its recommendation for the stock as a “Overweight” from “Neutral” on May 09, 2024 while assigning a price target range of $5-$4. RBC Capital Mkts issued its recommendations for the stock as it upgraded the price target for the stock in the range of between $5 and $4.

Over the week, EVGO’s stock price is moving 36.17% up while it is 56.86% when we observe its performance for the past one month. Year-to-date it is -10.61% down and over the past year, the stock is showing a downside performance of -28.09%.

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Currently, EVgo Inc’s total number of outstanding shares is 102.94M. Company’s return on investment (ROI) stands at -41.17%. Stock’s beta reads 2.59. Stock has a price to book (P/B) ratio of 13.14 while price to sale or P/S ratio amounts to 1.78. Its return on asset (ROA) is -5.14% on average.

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