Electric vehicle sales are slowing down as supply chain shortages ease in the auto industry. The charging company got an injection of capital to help its survival prospects. Parkev Tatevosian, CFA®, discusses what the news could mean for EVGO (EVGO 13.92%) stock investors. *Stock prices used were the afternoon prices of Oct. 2, 2024. The video was published on Oct. 4, 2024. ...

U.S. stock futures were higher this morning, with the Dow futures gaining over 50 points on Friday. Shares of Rivian Automotive, Inc. RIVN fell sharply in today's pre-market trading after the company lowered its annual production guidance due to supply shortage of shared component on the R1 and RCV platforms. The company produced 13,157 vehicles at its manufacturing facility in Normal, Illinois, and delivered 10,018 cars during the same period. Rivian is experiencing a supply shortage that began in the thir ...

EVgo Inc. (EVGO) shares soared 60.8% in the last trading session to close at $6.32. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 6% loss over the past four weeks. The stock rallied yesterday after securing a $1.05 billion conditional loan guarantee from the U.S. Department of Energy. The financing will help EVgo expand its charging network, with plans to install around 7,500 new fast-charging stations nationwide by 2030. This ...

EVgo Inc. (EVGO, Financial), an electric vehicle charging company, has obtained a conditional loan guarantee of up to $1.05 billion from the U.S. Department of Energy. This funding is aimed at expanding its charging network. Following the announcement, EVgo's stock skyrocketed by 60.81%, marking its largest gain in over three years. The company plans to use the financing to install approximately 7,500 fast chargers across several U.S. states, including Arizona, California, Florida, Georgia, and Illinois. Th ...

As the electric vehicle (EV) industry pursues mainstream adoption, the demand for robust charging infrastructure is more critical than ever. With global efforts to combat climate change and reduce reliance on fossil fuels, governments, automakers and technology providers are focused on building a system that supports electric mobility. This shift is reshaping the auto industry and driving investment in charging networks, battery technology, and renewable energy sources. On Thursday (Oct. 3) EVgo, an electri ...

Key Takeaways EVgo received a conditional $1.05 billion loan guarantee from the Department of Energy to install public EV charging stations. The company expects to put 7,500 fast-charging stalls around the U.S. by 2030. JPMorgan upgraded EVgo's stock, saying it will outperform its rivals' shares in the next few years. EVgo (EVGO) shares soared 50% Thursday after the electric vehicle (EV) charging station provider received a $1.05 billion conditional government loan guarantee to install public EV chargers. T ...

When it comes to electric vehicle (EV) charging stocks, EVgo Inc EVGO is set to outperform. ChargePoint Holdings Inc CHPT, however, struggles to maintain momentum. EVgo: Charging Ahead The Los Angeles-based company has a scalable business model and higher utilization. EVgo's owner-operator model has given it a distinct edge in a market where EV sales have been slower than anticipated. According to JPMorgan's Bill Peterson, EVgo's fast-charging business is "scaling well with higher utilization and charge rat ...

Two news items has EVgo stock soaring today. Electric-vehicle (EV) charging company EVgo (EVGO 54.84%) received some timely analyst support this morning. An upgrade on the stock to a buy recommendation had shares moving higher in premarket trading Thursday. However, the timely recommendation from J.P. Morgan analyst Bill Peterson was overshadowed by news from the company itself. The combination had shares soaring as much as 49% in early trading. As of 10:55 a.m. ET, EVgo stock was still up by 47.3%. Over $1 ...

EVgo Inc (NASDAQ:EVGO) stock is 33.8% higher premarket, looking to open at $5.26 after a bull note from J.P. Morgan Securities. The firm upgraded the electric vehicle (EV) charging name to "overweight" from "natural," noting the company's fast-charging owner-operator model is scaling well with more utilization. In addition, the U.S. will grant EVgo a conditional loan guarantee of up to $1.05 billion to expand its public EV charging infrastructure. Coming into today, six of 13 covering brokerages rated EVgo ...

I I I l - I 1 the state IF T n T sanfel Introduction EVgo (NASDAQ:EVGO) is one of the leading companies in the distribution, operation and building infrastructure for electric vehicle charging solutions in the US. The company has over 1,000 fast charging points in over 35 states. EVgo is in constant development to meet the expected mass adoption of electric vehicles for commercial fleets, individual drivers and businesses. Recently, EVgo the company has recorded a double-digit charging revenue after deliver ...