Company Profile:

EVgo, Inc. owns and operates a direct current fast charging network in the United States. The company offers electricity directly to drivers, who access its publicly available networked chargers; original equipment manufacturer charging and related services; fleet and rideshare public charging services; and charging as a service and fleet dedicated charging services. It also provides ancillary services, such as customization of digital applications, charging data integration, loyalty programs, access to chargers behind parking lot, or garage, pay gates and pilots microtargeted advertising, and charging reservations; and maintenance and development and project management services through eXtendTM, including electric vehicle supply equipment installation, networking, and operations. The company was incorporated in 2010 and is based in Los Angeles, California.

Recent News:

On November 02, 2022, the company reported that revenue increased to $10.5 million in the third quarter of 2022, compared to $6.2 million in the third quarter of 2021, representing 70% year-over-year growth. Network throughput increased to 12.1 GWh in the third quarter of 2022, compared to 8.0 GWh in the third quarter of 2021, representing 51% year-over-year growth.

On October 27, 2022, the company announced a partnership with MHX, LLC, a full-service logistics operator in California, providing a unique transload and transportation service which partners in moving product via truck, rail, or ocean vessel, to support MHX’s first-ever fleet electrification project.

October 26, 2022, the company announced that more than 500,000 customer accounts have been created on its platform, a significant milestone for the rapidly growing EV community in the United States.

Fundamental Analysis:

Ninestocks analyzes several different financial aspects:

Price to Book Value – P/BV, a ratio used to compare book value to its current market price, to gauge whether a stock is valued properly.

@@@@@

Price to Earnings – PE, the ratio for valuing a company that measures its current share price relative to its earnings per share (EPS).

@@@@@

Discounted cash flow – DCF, a valuation method used to estimate the value of an investment based on its expected future cash flows.

@@@@@

Return on Assets – ROA, indicates how profitable a company is in relation to its total assets, how efficiently uses assets to generate a profit.

@@@@@

Return on Equity – ROE, a measure of financial performance calculated by dividing net income by equity. a gauge of profitability and efficiency.

@@@@@

Debt to Equity – evaluate financial leverage, reflects the ability of equity to cover outstanding debts in the event of a business downturn.

@@@@@

Conclusion:

EVGO receives outperform rating in price to book value and discounted cash flow. Technical indicators signal the bullish signs, as there is a bullish crossover in the MACD and Stochastic oscillator. The RSI(14) stands at 50.6 with positive bias. We rate EVgo, Inc. (EVGO) a STRONG BUY.