EVgo Prepares for Q4 Earnings Amidst Ongoing Market Challenges

EVgo Inc EVGO is set to report its fourth-quarter earnings on Tuesday. Analysts predict a loss of 9 cents per share with revenues projected at $69.10 million ahead of the market opening.

The company’s Stock has experienced a decline of 9.62% over the past year and is down 38.31% year-to-date (YTD).

Next, we will analyze what the charts reveal about EVgo’s current market positioning relative to Wall Street estimates.

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Current Market Positioning for EVgo Ahead of Q4 Earnings

Chart created using Benzinga Pro

Currently, EVgo Stock is under pressure, trading at $2.61 and failing to cross any significant moving averages. Notably, all major moving averages—the eight-day, 20-day, 50-day, and the 200-day averages—confirm a persistent bearish trend. The 200-day average stands at $4.27, indicating substantial losses for the Stock.

The Moving Average Convergence Divergence (MACD) reading at negative 0.29 indicates weak momentum, while the Relative Strength Index (RSI) at 29.31 places EVgo firmly in the oversold category. Although this suggests a potential for a rebound, the timing remains uncertain.

This technical picture is discouraging for investors, yet the low RSI hints at the possibility of a brief upward movement. Should buyers emerge, a bounce may occur, but without movement above key resistance levels, the Stock‘s downward trend is likely to continue. Investors are left to ponder whether EVgo can regain its momentum or if its momentum is indeed faltering.

Analyst Outlook for EVgo Shows 132% Potential Upside

Ratings & Consensus Estimates: Currently, analysts view EVgo Stock as a Buy, with a consensus price target of $6.97. Recent ratings from JPMorgan and UBS suggest an average price target of $6, reflecting a significant upside of 132.14%.

EVGO Price Action: As of the latest update, EVgo Stock was observed trading at $2.44.

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