EVgo Inc EVGO will be reporting its fourth-quarter earnings on Tuesday. Wall Street expects a loss of 9 cents a share and $69.10 million in revenues as the company reports before market hours.
Electric vehicle sales were skyrocketing in the United States for a decade. Then, in 2023, this growth stalled out.
EV charging stocks should be thriving this year as the number of electric vehicles in the United States jump. Americans bought about 1.4 million EVs in 2024, a trend that may keep growing in the coming years.
EVgo stands out in the EV charging niche, growing rapidly with DOE loan approval, making it a strong long-term play despite near-term volatility. EVgo's focus on DC fast charging and its asset-light eXtend segment drive impressive growth, with revenues soaring from $22M in 2021 to $239M in Q3 2024. The DOE loan supports EVgo's expansion, potentially adding 10,600 new fast-charging stalls by 2029, with favorable repayment terms easing near-term liquidity pressures.
In this video, Motley Fool contributor Jason Hall explains why EV charging station company EVgo (EVGO -7.49%) stock has a shot at being a market beater, but there are serious reasons why the odds are not favorable.
EVgo (EVGO -7.49%) is at the forefront of a burgeoning industry. That is a good thing in some ways, but also a bad thing in others.
News of a fresh directive from the federal government sapped a lot of energy from electric vehicle (EV) charging stock EVgo (EVGO -7.49%) as the trading week came to a close. The company's shares tumbled by more than 7% on this development, a far steeper fall than the sub-1% decline of the S&P 500 (^GSPC -0.95%).
EVgo stock price has imploded in the past few months, erasing some of the gains made late last year. It crashed to a low of $3.50 on Tuesday, down by almost 62% from its highest level in 2024, bringing its market cap to over $1 billion.
The past few weeks have been rough for EVgo (EVGO 0.29%), and by extension, for its shareholders. The stock's now down more than 60% from its late-October peak, and touched a multimonth low just a few days ago.
EVgo (EVGO -0.29%), a leading builder of electric vehicle (EV) charging stations, has burned plenty of investors. It went public by merging with a special purpose acquisition company (SPAC) in July 2021, and its stock opened at $15.05 on the first day.
When JPMorgan analyst Bill Peterson spoke about the clean energy space for 2025, his focus was on EVgo Inc EVGO and Enovix Corp ENVX as top picks, citing their better positioning for growth and profitability despite looming policy challenges.
EVgo stock price has crashed hard in the past few months, erasing some of the gains made in the fourth quarter. After soaring to a high of $9.07 on October 25 last year, it has plunged by 60% to the current $3.57.