The electric vehicle charging stock could skyrocket if this happens.
The looming threat of the removal of the clean energy tax credit has rattled some, but JPMorgan analyst Bill Peterson says EVgo Inc. EVGO is set up for success.
Why Electric Vehicle Stocks Were on Fire on Monday
EVgo, Inc. reported Q3 '24 earnings with a 92.4% y/y sales increase but still faces inefficiencies and profitability challenges, leading to a hold rating. The company's gross margins improved to 9.4%, and it holds $153.4m in cash with zero debt, positioning it well for growth. EVgo's future expansion includes a potential $1B loan guarantee and plans to build 7,500 high-powered charging stalls over five years.
EVgo, Inc. (NASDAQ:EVGO ) Q3 2024 Earnings Conference Call November 12, 2024 8:00 AM ET Company Participants Heather Davis - VP, IR Badar Khan - CEO Paul Dobson - CFO Conference Call Participants Bill Peterson - J.P. Morgan Andres Sheppard - Cantor Fitzgerald Craig Irwin - Roth Capital Partners Christopher Dendrinos - RBC Capital Markets Chris Pierce - Needham & Company William Grippin - UBS Operator Thank you for standing by.
EVgo Inc. (EVGO) came out with a quarterly loss of $0.11 per share versus the Zacks Consensus Estimate of a loss of $0.10. This compares to loss of $0.09 per share a year ago.
A new presidential administration could bring headaches for renewable energy.
As Election Week 2024 is upon us, Wall Street is geared up for sector-specific shakeups, with JPMorgan's Bill Peterson spotlighting a decisive split in potential stock moves.
Thursday, UBS analyst William Grippin upgraded shares to Buy from Hold. His price target increased by more than 100% to $8.50 from $4 a share.
Electric vehicle sales are slowing down as supply chain shortages ease in the auto industry.
EVgo Inc. (EVGO) saw a massive rally this week that sent its stock to an 18-month high. George Tsilis looks at EVgo's peers in the EV-charging space to see why it's getting so much attention.