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 ...

Core Insights - EVgo Inc is positioned to outperform in the electric vehicle (EV) charging sector, while ChargePoint Holdings Inc is struggling to maintain momentum [1] EVgo - EVgo has a scalable business model and higher utilization rates, benefiting from its owner-operator model which allows it to thrive even in a slower EV sales environment [2] - The company has shown solid results with network throughput growth, stable margins, and improved operating leverage, and it is expected to become profitable by the end of 2025, supported by a potential Department of Energy loan [3] - A price target of $7 reflects an optimistic outlook for EVgo, which is on a Positive Catalyst Watch [3] - EVgo's ability to control its own growth and utilization distinguishes it from competitors, positioning it as a leader in the EV charging market [6] ChargePoint - ChargePoint's business model is heavily reliant on hardware sales, which have been adversely affected by slower-than-expected EV adoption [4] - Concerns about ChargePoint's profitability and future growth visibility have led to a downgrade to 'Underweight' [4] - The company's high software margins are not sufficient to offset the underperformance of its hardware business, which has not scaled adequately [5] - ChargePoint's dependence on third-party site hosts for charger expansion exposes it to risks, particularly as demand from fleet and commercial customers remains weak [5]

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 ...

Core Viewpoint - EVgo is experiencing significant growth in charging revenue and network expansion, but it still faces challenges in achieving profitability and infrastructure costs [3][4][19]. Financial Performance - In Q2 2024, EVgo reported revenue of $66.6 million, a 32% increase compared to Q2 2023 [4]. - The charging network expanded to 66 GWh, representing a 164% year-over-year growth from 24 GWh [4]. - The company exceeded EPS estimates by 12%, but recorded a net loss of $29.6 million, a 49% increase from Q2 2023 [4]. - Adjusted EBITDA was negative at $8.0 million, with a loss per share of $0.098, worsening from $0.082 in the previous year [4]. Market Position and Competition - EVgo operates 3,440 charging stalls, a 37% increase, but still lags behind competitors like Tesla, which has 45,000 superchargers [8][15]. - ChargePoint, with a market capitalization of $1.79 billion, poses significant competition to EVgo's $1.11 billion valuation [16]. - Customer satisfaction scores indicate EVgo ranks lower than its peers, with a score of 566 compared to ChargePoint's 627 and Tesla's 731 [16]. Industry Trends - The demand for electric vehicles (EVs) is expected to grow significantly between 2025 and 2040, but current economic conditions and high installation costs for charging infrastructure present challenges [5][10]. - The U.S. government has allocated $5 billion to support the installation of charging networks, which is crucial for EVgo's expansion plans [9]. Future Outlook - EVgo is projected to grow at an average annual rate of 26% over the next three years, but profitability remains uncertain [4][19]. - The company is focused on enhancing its fast-charging network and improving customer experience to strengthen its competitive position [17][18].

Justin Paget Investment Summary My recommendation for EVgo, Inc. (NASDAQ:EVGO) is a buy rating. EVGO provides investors with an avenue to gain exposure to the long-term growth of electric vehicle adoption without bearing the risk of choosing which OEM is the best. Since EVGO operates the underlying charging stations, it benefits directly from industry growth. Notably, it has attractive growth tailwinds that can drive faster growth than the EV industry. Business Overview EVGO EVGO owns and operates a public ...

EVgo Inc. (EVGO) came out with a quarterly loss of $0.10 per share versus the Zacks Consensus Estimate of a loss of $0.11. This compares to loss of $0.08 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 9.09%. A quarter ago, it was expected that this company would post a loss of $0.11 per share when it actually produced a loss of $0.09, delivering a surprise of 18.18%. Over the last four quarters, the company has surpassed con ...

About this content Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, The Canberra Times, an ...

Some believe that the Street always values companies more or less correctly and is never completely wrong about companies' outlooks. But history shows this concept is completely incorrect. In the last few years, the Street massively underestimated the value of two stocks that large investors completely overlooked: Super Micro Computer (NASDAQ:SMCI) and American Superconductor (NASDAQ:AMSC). Here are three overlooked small-cap stocks that can similarly become beloved by the Street. Given Redwire's strong pos ...

Penny stocks to buy carry a considerable amount of risk. That's why we include the disclaimer at the tail-end of this article. It's also why the Securities & Exchange Commission warns: "Penny stocks may trade infrequently — which means that it may be difficult to sell penny stock shares once you have them. Because it may also be difficult to find quotations for penny stocks, they may be impossible to accurately price. Investors in penny stock[s] should be prepared for the possibility that they may lose thei ...

There are several types of bargain stocks available to buy in the stock market. There are, of course, traditional bargain stocks with very low valuations and an average growth rate. Then we have stocks with run-of-the-mill or even above-average valuations, paired with rapid growth. Finally, there are firms that have powerful, upcoming catalysts and low valuations. Sometimes the latter companies may have high price-earnings and/or elevated price-to-sales ratios. But their market capitalizations are low in li ...