- EVgo Inc. (EVGO) stock has declined by over 2.8% in today’s market session.
- EVgo Inc. stock price declined by 63% in one year.
- The EVGO has a share float of 96.9 Million shares.
The EVgo, Inc. (NASDAQ: EVGO) specializes in delivering services related to electric vehicle charging stations. They provide access to the EVgo network, solutions for home and workplace charging, and various plans tailored for electric car owners.
EVgo Inc.’s stock price displays a downward trend and adheres to a falling wedge pattern. This pattern suggests a negative outlook, hinting at possible future declines.
EVgo Inc. stock is trading at $3.06, reflecting a 2.86% decrease in today’s market session. The stock boasts an average trading volume of $2.1 million and a share float of 96 million.
EVgo Inc. stock does not allocate dividends to its shareholders, which could discourage potential investors from establishing new positions.
Over the past six months, EVgo Inc. has experienced a substantial decrease in its stock price, approximately -52%. This performance indicates a weakness in the stock, potentially reducing buyer interest.
Additionally, the profit margin of EVgo Inc. has shown a significant decrease in 2023. The net income has also experienced a substantial decline, plummeting from a profit margin of -26% in 2021 to -51% in 2022. These figures highlight a noteworthy decline in the company’s financial performance.
The EBITDA is also negative, nearly around -$21 Million while the free cash flow is -$37 Million. The company has a debt of $50 Million.
EVgo Inc. (EVGO) Technical Analysis
EVGO by writer50_tcr on TradingView.com
EVgo Inc. stock exhibits a bearish trend, with the MACD line positioned below the signal line. Additionally, a red histogram is forming, emphasizing its bearish momentum and the potential for price declines in the near future.
Furthermore, the RSI line of EVgo Inc. stock is currently below the SMA line, with both lines approaching the 30 level. This zone is considered negative, providing additional evidence of the potential for a price decline in the coming days.
It’s worth noting that the stock’s trading volume stands at 2.1 million and has shown a declining trend on the chart. This decline indicates a waning interest among buyers in establishing new positions.
Conclusion
As per the analysis, EVgo Inc. stock is moving in a downtrend. The stock has given a breakout from the support level. Additionally, the stock has given a negative return in the previous year. The indicators are giving a weak signal. Thus, the outlook for the stock is currently bearish, and the price is likely to decline in the upcoming days.
Technical Levels
- Support Level: $2.5
- Resistance Level: $3.06
Disclaimer
The views and opinions of the author, or anyone named in this article, are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.
