EVgo Inc. (EVGO) Gains As Market Dips: What You Should Know

This story originally appeared on Zacks

EVgo Inc. (EVGO) closed at $9.58 in the latest trading session, marking a +0.21% move from the prior day. This change outpaced the S&P 500’s 0.1% loss on the day. Elsewhere, the Dow lost 0.47%, while the tech-heavy Nasdaq lost 0.47%.

Heading into today, shares of the company had lost 21.45% over the past month, lagging the Auto-Tires-Trucks sector’s gain of 4.55% and the S&P 500’s gain of 3.67% in that time.

Investors will be hoping for strength from EVgo Inc. as it approaches its next earnings release.

Investors might also notice recent changes to analyst estimates for EVgo Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. EVgo Inc. is currently a Zacks Rank #2 (Buy).

The Automotive – Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 205, putting it in the bottom 20% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

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EVgo Inc. (EVGO): Free Stock Analysis Report
 
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