EVgo Stock Hits Oversold Territory Ahead Of Q4 - Relief Rally Incoming?

Core Viewpoint - EVgo Inc is set to report its fourth-quarter earnings, with Wall Street anticipating a loss of 9 cents per share and revenues of $69.10 million, while the stock has seen a significant decline of 9.62% over the past year and 38.31% year-to-date [1]. Group 1: Stock Performance and Technical Indicators - EVgo stock is currently priced at $2.61, remaining below all major moving averages, indicating a strongly bearish trend, with the 200-day moving average at $4.27 [1]. - The Moving Average Convergence Divergence (MACD) indicator is at negative 0.29, signaling weak momentum, while the Relative Strength Index (RSI) is at 29.31, suggesting the stock is in oversold territory [2]. - Despite the bearish technical setup, the deeply oversold RSI indicates a potential for a short-term relief rally if buyers enter the market [2]. Group 2: Analyst Ratings and Price Targets - The consensus analyst rating for EVgo stock is currently a Buy, with an average price target of $6.97, suggesting a potential upside of 132.14% [4]. - Recent analyst ratings from JPMorgan and UBS support an average price target of $6, indicating significant upside potential from the current trading price of $2.44 [4].