EVgo Inc - Ordinary Shares - Class A Stock News

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LOS ANGELES--(BUSINESS WIRE)--EVgo Inc. (Nasdaq: EVGO), (“EVgo” or the “Company”), one of the nation's largest public fast charging networks for electric vehicles (EVs), today announced that it will release its second quarter 2024 financial results on Thursday, August 1, 2024. This release will be followed by a webcast hosted by members of the EVgo management team at 8 a.m. PT (11 a.m. ET). EVg...

The many pundits who prognosticated that electric vehicle sales would tumble in the U.S. alongside EV charging stocks, appear to have been, in line with my previous predictions, very much mistaken. That's because, last quarter, the number of EV sales jumped 11.3% versus the same period a year earlier to a record total of 330,463, according to Cox Automotive, which cited data from Kelley Blue Book.

EVgo, a provider of direct current fast charging for electric vehicles, has earned a ‘Neutral' rating and a $4 price target from UBS analysts in their initial coverage of the stock. Shares of EVgo traded hands at $3.65 in the early afternoon on Tuesday.

There are a few reasons I'm bullish on EV charging stocks for growing one's wealth this year and the future. One big reason is that EV charging stocks are releasing technologies to make their processes more efficient.

If electric vehicles are the future, we desperately need more charging stations, I said in June. “As we wait for that to happen, now may be the time to buy some of the best EV charging stocks,” I added.

The underdog charging stock has more than doubled since late April. Its latest gain came as analysts at Benchmark raised their target for the price.

If electric vehicles are the future, we desperately need more charging stations. As we wait for this to happen, now may be the time to buy some of the best EV charging stocks.