EVgo-osakkeen hintaanalyysi ja tulosennakko: elpyykö se?

EVgo stock price has remained in a narrow range since December last year as concerns about its business growth trajectory remained. It was trading at $2.83 on Monday, down by 45% from its highest point in September last year and ~70% from its 2024 high. 

EVgo julkaisee tuloksensa tiistaina

EVgo, yksi Yhdysvaltojen johtavista sähköautojen latausyrityksistä, kohtaa merkittäviä vastatuulia, vaikka sähköautojen määrä maan teillä jatkaa kasvuaan.

Data shows that the EV count has jumped to over 5 million from 1.3 million in 2021. This growth will likely continue, albeit at a slower pace. Companies like General Motors, Stellantis, and Ford are still making limited EVs despite the recent large write-downs.

The next main catalyst for the EVgo share price will be its earnings, which will come out on Tuesday. These numbers will provide more clarity on its business and its growth trajectory.

The most recent results showed that the company continued doing well as its revenue growth continued. Its revenue rose by 37% in the third quarter to $92.3 million. Most of this revenue came from its charging network.

EVgo has been adding new stores throughout the country to meet demand. It ended the third quarter with 4,590 stalls, up by 280 from the second quarter. Most importantly, customer accounts rose by 149,000, a sign that its demand continued rising.

The results also showed that EVgo continued to narrow its losses. Its net loss narrowed to $28 million from $33 million in Q3’24.

The upcoming results are expected to show that EVgo’s business continued doing well in the last quarter. Analysts see the revenue coming in at $102 million, up by 51% YoY. If this estimate is accurate, it will bring the annual revenue to $367 million, up by 43% YoY. 

EVgo also anticipate to break even in terms of adjusted EBITDA metric in the fourth quarter of last year. Its break-even point in net profit is expected this year as its revenue growth and cost management continue.

Still, there is a risk in that EVgo is one of the most shorted stocks in the US, a trend that has continued in the near term. Its short interest has jumped to 25%, a sign that these investors anticipate a downtrend.

EVgo-osakekurssin tekninen analyysi

The daily chart shows that the EVgo share price peaked at $9.06 in November 2024 to the current $2.8. It has also retreated from the October high of $5.17, a move that has led to a big drop in its valuation.

The stock has remained below all moving averages. It has also dropped below the Supertrend and the Ichimoku cloud indicators, a sign that bears remain in control this year.

However, on the positive side, the stock has formed a falling wedge pattern. This pattern is made up of two descending and converging trendlines.

Therefore, the most likely scenario is where the EVgo stock price rebounds after earnings. If this happens, the key target is at $3.25, the upper side of the descending channel. A break above that level will point to more gains, potentially to the key resistance level at $5.

On the flip side, a drop below the lower side of the channel at $2.50 will invalidate the bullish outlook.