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EVgo Stock Soars After Securing $1.05 Billion Government LoanEVgo Inc. (NASDAQ: NASDAQ:EVGO ) made significant strides this past week, soaring more than 50% after receiving a $1.05 billion conditional loan guarantee from the U.S. Department of Energy (DOE) and a major stock upgrade from JPMorgan. This combination of federal support and Wall Street confidence positions EVgo as a prominent player in the electric vehicle (EV) charging industry, a critical segment as the EV revolution continues to take shape. Key Catalysts 1. $1.05 Billion Loan from the Department of Energy The loan, which is still conditional, comes from the DOE's Loan Programs Office (LPO) under the innovative clean energy initiative. EVgo (NASDAQ: NASDAQ:EVGO ) plans to use the funds to build around 7,500 additional fast-charging stalls across nearly 1,100 stations in the U.S., a massive step toward its goal of nationwide expansion. The project is set to complete by 2030, significantly enhancing the company’s public EV charging infrastructure. CEO Badar Khan hailed the DOE's financial support as a "historic investment" that will "meaningfully accelerate" the company's expansion. By focusing on marginalized urban areas and aiming to serve disadvantaged communities, EVgo is not only scaling its charging network but also working toward environmental equity. This aligns with the broader federal initiative of deploying EV chargers every 50 miles along U.S. highways. 2. JPMorgan’s Upgrade Alongside the government backing, JPMorgan upgraded EVgo’s stock from "neutral" to "outperform," reinstating a price target of $7. The bank highlighted that EVgo’s owner-operator model has scaled well, despite the muted demand in the current EV market. Analysts cited the company’s growing utilization rates and charge rates as key factors that position it ahead of competitors in the next few years. This vote of confidence from JPMorgan is significant. It suggests that the market expects EVgo to outperform its peers despite the highly competitive EV charging landscape, which includes giants like Tesla’s proprietary charging network. Technical Outlook From a technical perspective, EVgo’s stock has shown signs of strong bullish momentum following the announcement. The stock gapped up 61%, confirming a breakout from a period of consolidation. It’s currently trading at $6.32, the highest level since spring 2023, with notable bullish signals. Bullish Harami Candlestick Pattern: The daily chart shows a bullish harami, a strong reversal pattern, indicating that momentum may continue upward. This pattern often signals a potential trend reversal, which has been confirmed by the rapid price increase over the past few days. Relative Strength Index (RSI): The RSI, currently sitting at 77, signals that the stock is in overbought territory. While this is a bullish indicator, it does raise questions about whether the rally can sustain itself. Overbought levels often trigger profit-taking and cooling-off periods, but in some cases, the rally continues if underlying fundamentals support further growth. Key Price Levels: If the rally continues, traders should watch for further upward movement with resistance around $7. At the same time, if the stock starts to cool off, potential support could form near $5.50, based on prior resistance levels. Future Outlook EVgo's growth potential is underpinned by strong industry tailwinds. The global push toward clean energy, coupled with government-backed initiatives, creates an environment in which EVgo can thrive. The $1.05 billion loan will be instrumental in allowing the company to scale its operations and serve more EV drivers, particularly in underserved communities that lack home charging solutions. Additionally, EVgo's ability to compete with larger players like Tesla will hinge on how efficiently it can roll out its fast-charging network and capture market share. Its focus on public charging for ride-sharing services and consumers without home chargers gives the company a niche market to dominate, especially as EV adoption rates increase in the coming years. EVgo (NASDAQ: NASDAQ:EVGO ) is uniquely positioned to benefit from both public and private sector backing. While the stock’s rapid ascent suggests a bullish outlook, the key will be sustaining momentum as the company implements its ambitious expansion plans. With JPMorgan’s upgrade and the DOE’s loan, investors are clearly optimistic, but all eyes will be on the company’s execution strategy in the months and years ahead. As EVgo (NASDAQ: NASDAQ:EVGO ) continues its growth trajectory, investors should monitor both fundamental developments—such as the finalization of the loan guarantee and future earnings reports—and technical indicators that could signal potential corrections or further upside. For now, EVgo’s outlook appears bright, with the company at the forefront of an essential industry driving the future of clean energy and transportation. Conclusion EVgo’s 60% surge on the back of a government loan guarantee and JPMorgan upgrade signals a new chapter for the EV charging company. With strong bullish technical patterns and a promising fundamental outlook, the company is poised to capitalize on the growing demand for EV infrastructure. However, with the stock in overbought territory, short-term corrections could offer better entry points for long-term investors looking to ride the clean energy wave.
NASDAQ:EVGOLong
by DEXWireNews
1
I’m buying a dogNo it’s not a golden retriever or a jack Russell, it’s EVgo. Price closed on Friday at $1.81, up %5 on the day, off as near as dam it an all time low. EVgo is the 3rd largest charging company in the USA behind Tesla and Chargepoint. Revenue has grown impressively since it’s inception beating estimates for the last four quarters. Take a look for yourself at the numbers. Having been forced out of my holding in Darktrace last week, at a very handsome profit because of a takeover, I have some cash to splash. Come next April I’m going to have to find some cash to pay off the inland revenue for the capital gains. My logic is that this company is seriously undervalued, Cantor Fitzgerald have recently downgraded the company from buy to hold with a price target of $5.00, eh ! how does that work. One brokerage has a $7.00 target Now I’m not going all in on this one because there is obvious risk. If it works out then I can pay off the tax man next year, if not then I’ll reduce my capital gains tax by selling at a loss and reduce my gains. On a technical level, price bounced strongly from a double bottom on the 4hr chart. Results are out very soon, having built up its infrastructure over the last few years hopefully it can start to deliver some positive earnings soon and the share price will recover
NASDAQ:EVGO
by RIckAshby
1
EVGO - oversold. Market breadth remains a significant factorEVGO is looking attractive here. In the ratio (EVGO/TSLA) chart I have comparing it to TSLA’s price, it has hit this RSI level 3 times before and seen excellent gains afterwards. The EVGO chart alone shows a potential double bottom if it bounces here. The EVGO/(CHPT*BLNK) compares it to it’s main competitors outside of TSLA and you can see that the market favors EVGO over the 2 year period they’ve been listed. The only doubt I have it the issue with market breadth - only a handful of large companies are participating in this (AI frenzy) rally - the rest are struggling with high rates. Of course, over the long term, you would expect to see the entire EV sector make big strides due to government stimulus and subsidies in the space.
NASDAQ:EVGOLong
by EquityEye
EVGO | Time to Charge Up | LONGEVgo, 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.
NASDAQ:EVGOLong
by DivergenceSeeker
EVGO TO THE MOONI definetly see a whole lotta potential here financials not to bad looks like its in the expansion phase to me definetly an innovation aside from tsla doin it EV is without a doubt the future lets not fight it this company is going to replace EXXON SHEL BP. gas stations i wont bash them to much cause they can always transition im not going to stop here im going to check if its competitions have better profit potential this industry is low key like ink its there its frequent but we never really take note www.marketbeat.com dont feel like typing 2 much so imma summarise this here SENNA SEASON
NASDAQ:EVGO
by Bekiumuzi_Dube
1
EVGO earnings on WednesdayEVgo is the nation’s largest public fast charging network for electric vehicles and the first to be powered by 100% renewable energy. EVGO Q4 earnings are on Wednesday 3/23 at 7am. Evgo (EVGO) reported Q3 September 2021 revenue of $6.2 million. The consensus estimate was a loss of $0.08 per share on revenue of $5.8 million. The company said it expects 2021 revenue of $20.0 million to $22.0 million. The current consensus revenue estimate is $20.78 million for the year ending December 31, 2021. With yesterday being the first day of Spring and gasoline prices rising, I'm long EVGO. Here's levels on the 1-day chart: Q4 December 21' Consensus: EPS = -$.12 Revenue = $6.13M 52 week high = $19.59 52 week low = $7 breakout = $14.67 R3 = $13.96 R2 = $13.25 R1 = $12.54 pivot = $11.83 S1 = $11.12 S2 = $10.41 S3 = $9.70 breakdown = $8.99 Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends... *3x lucky 7s of trading* 7pt Trading compass: Price action, entry/exit Volume average/direction Trend, patterns, momentum Newsworthy current events Revenue Earnings Balance sheet 7 Common mistakes: +5% portfolio trades, capital risk management Beware of analyst's motives Emotions & Opinions FOMO : bad timing, the market is ruthless, be shrewd Lack of planning & discipline Forgetting restraint Obdurate repetitive errors, no adaptation 7 Important tools: Trading View app!, Brokerage UI Accurate indicators & settings Wide screen monitor/s Trading log (pencil & graph paper) Big, organized desk Reading books, playing chess Sorted watch-list Checkout my indicators: Fibonacci VIP - volume Fibonacci MA7 - price pi RSI - trend momentum TTC - trend channel AlertiT - notification tickerTracker - MFI Oscillator www.tradingview.com
NASDAQ:EVGOLong
by Options360