Downloading...
Download

Evgo

EVgo Stock Soars After Securing $1.05 Billion Government LoanEVgo Inc. (NASDAQ: NASDAQ:EVGO ) made significant strides this past week, soaring more than 50% after receiving a $1.05 billion conditional loan guarantee from the U.S. Department of Energy (DOE) and a major stock upgrade from JPMorgan. This combination of federal support and Wall Street confidence positions EVgo as a prominent player in the electric vehicle (EV) charging industry, a critical segment as the EV revolution continues to take shape. Key Catalysts 1. $1.05 Billion Loan from the Department of Energy The loan, which is still conditional, comes from the DOE's Loan Programs Office (LPO) under the innovative clean energy initiative. EVgo (NASDAQ: NASDAQ:EVGO ) plans to use the funds to build around 7,500 additional fast-charging stalls across nearly 1,100 stations in the U.S., a massive step toward its goal of nationwide expansion. The project is set to complete by 2030, significantly enhancing the company’s public EV charging infrastructure. CEO Badar Khan hailed the DOE's financial support as a "historic investment" that will "meaningfully accelerate" the company's expansion. By focusing on marginalized urban areas and aiming to serve disadvantaged communities, EVgo is not only scaling its charging network but also working toward environmental equity. This aligns with the broader federal initiative of deploying EV chargers every 50 miles along U.S. highways. 2. JPMorgan’s Upgrade Alongside the government backing, JPMorgan upgraded EVgo’s stock from "neutral" to "outperform," reinstating a price target of $7. The bank highlighted that EVgo’s owner-operator model has scaled well, despite the muted demand in the current EV market. Analysts cited the company’s growing utilization rates and charge rates as key factors that position it ahead of competitors in the next few years. This vote of confidence from JPMorgan is significant. It suggests that the market expects EVgo to outperform its peers despite the highly competitive EV charging landscape, which includes giants like Tesla’s proprietary charging network. Technical Outlook From a technical perspective, EVgo’s stock has shown signs of strong bullish momentum following the announcement. The stock gapped up 61%, confirming a breakout from a period of consolidation. It’s currently trading at $6.32, the highest level since spring 2023, with notable bullish signals. Bullish Harami Candlestick Pattern: The daily chart shows a bullish harami, a strong reversal pattern, indicating that momentum may continue upward. This pattern often signals a potential trend reversal, which has been confirmed by the rapid price increase over the past few days. Relative Strength Index (RSI): The RSI, currently sitting at 77, signals that the stock is in overbought territory. While this is a bullish indicator, it does raise questions about whether the rally can sustain itself. Overbought levels often trigger profit-taking and cooling-off periods, but in some cases, the rally continues if underlying fundamentals support further growth. Key Price Levels: If the rally continues, traders should watch for further upward movement with resistance around $7. At the same time, if the stock starts to cool off, potential support could form near $5.50, based on prior resistance levels. Future Outlook EVgo's growth potential is underpinned by strong industry tailwinds. The global push toward clean energy, coupled with government-backed initiatives, creates an environment in which EVgo can thrive. The $1.05 billion loan will be instrumental in allowing the company to scale its operations and serve more EV drivers, particularly in underserved communities that lack home charging solutions. Additionally, EVgo's ability to compete with larger players like Tesla will hinge on how efficiently it can roll out its fast-charging network and capture market share. Its focus on public charging for ride-sharing services and consumers without home chargers gives the company a niche market to dominate, especially as EV adoption rates increase in the coming years. EVgo (NASDAQ: NASDAQ:EVGO ) is uniquely positioned to benefit from both public and private sector backing. While the stock’s rapid ascent suggests a bullish outlook, the key will be sustaining momentum as the company implements its ambitious expansion plans. With JPMorgan’s upgrade and the DOE’s loan, investors are clearly optimistic, but all eyes will be on the company’s execution strategy in the months and years ahead. As EVgo (NASDAQ: NASDAQ:EVGO ) continues its growth trajectory, investors should monitor both fundamental developments—such as the finalization of the loan guarantee and future earnings reports—and technical indicators that could signal potential corrections or further upside. For now, EVgo’s outlook appears bright, with the company at the forefront of an essential industry driving the future of clean energy and transportation. Conclusion EVgo’s 60% surge on the back of a government loan guarantee and JPMorgan upgrade signals a new chapter for the EV charging company. With strong bullish technical patterns and a promising fundamental outlook, the company is poised to capitalize on the growing demand for EV infrastructure. However, with the stock in overbought territory, short-term corrections could offer better entry points for long-term investors looking to ride the clean energy wave.
NASDAQ:EVGOLong
by DEXWireNews
1
EV chargers run uot of charge themselves..!As you can see in the charts lower prices are very likely in these 4 EV chargers companies..! You can see the most important support(green line) and resistance (red line) levels. Best, Moshkelgosha DISCLAIMER I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
NYSE:CHPTShort
by Moshkelgosha
1
⚡️ Chargers, electric vehicles and infrastructure plan...On Friday, November 5, the US Congress approved a $ 1.2 trillion infrastructure plan. The plan envisages investments in roads, bridges, railway infrastructure, expansion of access to clean drinking water, development of access to high-speed Internet, and "greening" of the infrastructure. The last point implies the creation of a national charging network for electric vehicles, and will also have a positive impact on the development of the industry related to the production of vehicles on electric traction. Investments in expanding the network of charging stations on highways will amount to $ 5 billion. Also, $ 2.5 billion will go to expand the network of charging stations for other ecological modes of transport, for example, on a hydrogen engine. Another $ 2.5 billion is planned to be spent on the electrification of school buses. Today, shares of manufacturers of charging stations for electric vehicles are on the rise of $ CHPT and $ VLTA + 13%, $ BLNK + 15%, $ EVGO + 30%. In this post, I will focus on the company with the largest network of charging stations in the United States. ChargePoint Holdings is an American electric vehicle infrastructure company based in California. Operates the largest network of over 140,000 independent charging stations in 14 countries. ChargePoint has over 5,000 corporate customers, 76% of which are Fortune 50 companies. The company began to build charging stations 10 years ago, the main business is focused on the markets of North America and Europe, coverage is also available in South America, Africa and Australia. Interaction with the charging station and payment is carried out through the ChargePoint mobile application. The company has three areas of activity: retail, corporate and fleet maintenance. In addition to its EV charging services, the company makes money by providing a cloud platform for managing charging stations and scheduling EV charging. To expand this area, ChargePoint acquired the European fleet management company ViriCiti in early August this year for $ 88 million. .clients in the maintenance of the park. Also this summer, ChargePoint acquired the "Has to be" company in Europe for $ 295, whose flagship product is the eMobility, a hardware-independent cloud platform. It should improve the efficiency of customer service and system reliability due to the constant growth of the charging infrastructure, as well as add 2,500 network ports and 3,500 corporate vehicles for service. The company is a pioneer and one of the leaders in its field, the growth of the fleet of electric vehicles around the world will spur demand for charging stations, to which the company adds more than 2,000 annually. 🔧The price of $ CHPT is moving in a downtrend, now the price has approached the slope. The positive news background is likely to catalyze the breakdown of the downtrend. Further, we expect the formation of a protorting in the zone of accumulation of horizontal volume and then the assault of local maximums. Draw in support blocks $ 19.5-22 (intermediate), $ 16-19 (main), stop - fixing below $ 15. 🎯 Targets $ 32/36. NOT IRR.
NYSE:CHPTLong
by Trader_Ivankov
A comparison between EV Chargers!1- CHPT: ChargePoint Holdings, Inc (CHPT) is the largest network of Electric Vehicle charging stations in North America and Europe - and provides solutions through a capital-light model free of monetization of both energy and driver utilization. The company maintains over 70% market share of networked L2 in North America with over 5,000 customers. Market cap: 7.79 B Short interest: 5.38% 2- VLTA: Volta, Inc. operates a network of smart media-enabled charging stations for electric vehicles. The company was founded by Scott Mercer and Christopher Wendel in 2010 and is headquartered in San Francisco, CA. Market cap: 1.4B Short interest: 1.96% 3- BLNK: Blink Charging Co. engages in the operation and provision of the electric vehicles, charging equipment, and networked EV charging services. Its product line and services include Blink EV charging network, charging equipment, also known as electric vehicle supply equipment, and EV charging services. The company was founded by Michael D. Farkas on October 3, 2006, and is headquartered in Miami Beach, FL. Market cap: 1.3B Short interest: 30.8% 4-EVGO: EVgo owns and operates the US' largest public DC fast charging network by the number of locations and is the first EV charging network in the nation powered by 100% renewable electricity. The company was originally founded by NRG Energy in 2010 and listed publicly via a SPAC merger with Climate Change Crisis on July 1st, 2021. Market cap: 702 Million Short interest: 13.07% As you can see the price pattern of these companies has a significant positive correlation..! which means regardless of their fundamentals they move in the same direction! However, only blink has the chance to experience Short or Gamma squeeze in the coming weeks because of the high short interest%..! For long-term investors, better to keep in mind these companies should compete with Tesla, no need to say all of them together are worth 1% of the TSLA market cap! It is highly unlikely they can compete with TSLA in this sector! I believe the most recent move was due to the Biden infrastructure bill..! and they could experience a correction! I am watching blink for a potential squeeze opportunity!
NYSE:CHPTShort
by Moshkelgosha
6