Is EVgo Stock a Buy in 2024?
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- Опубликовано: 3 окт 2024
- Despite growing revenues and improving margins, EVgo stock hasn't experienced sustained growth. The company remains unprofitable, but are we close to seeing that flip? Could EVgo be a good long-term investment? Hear my thoughts in today's video! And let me know your thoughts in the comments!
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Disclaimer:
The content of this video & its comment section is not financial advice. Stock Probe is not accountable for any financial losses of its viewers. Do your own research before making any investment decision.
Disclosure: I do not hold any positions in EVGO and hold a long position in TSLA at the time of publishing this video.
#evgo #evcharging #investing
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Stock Probe by Calvin Moses
For business inquiries: stockprobe57@gmail.com
I hope everyone enjoys the video!
Please cover AQST stock they are making drugs in the listerine strip form. Going to be huge in the future. Currently $2.50 just got a $10 price target so now it has price targets between $8-24 and all buy ratings with 2 big FDA catalysts later this year. Would love to see one of you do an analysis
They are progressing steadily in the right direction. Although it's not the optimal ecosystem at the moment, with the Federal Reserve's decision to cut rates, more individuals would be able to afford electric vehicles (EVs). This, in turn, could assist the company in lowering its cost of revenue. However, I'm unclear about the non-controlling interest aspect. Would our gains be reduced when the company becomes profitable? Apologies for any confusion
On noncontrolling interest (NCI): as far as I can tell, the NCI is tied to "EVgo OpCo", a subsidiary of EVgo Holdings. EVgo Holdings held 65.6% of EVgo OpCo's equity as of Sept. 30th this year. The remaining 34.4% is the noncontrolling interest.
At this time, the NCI accounts for a pretty significant portion of EVgo Holding's consolidated financials. This portion can change over time as EVgo OpCo's income and equity change. I'm honestly not 100% sure what EVgo OpCo's operations are, and whether that NCI will remain at such a significant level.
Until I dig deeper, I'm guessing the answer to that would be yes-the NCI will remain a pretty big factor. It seems like EVgo OpCo is a pretty core part of the business (it seems to at least date back to the SPAC with CRIS) and the NCI remains pretty significant even with EVgo Holdings' 65.6% ownership over the subsidiary (34.4% NCI). But I honestly don't know why the NCI is SO large right now if EVgo Holdings owns 65.6% of EVgo OpCo. I'm not that knowledgeable.
Hope this hasn't made this even more confusing! Let me know your thoughts
@stockprobe actually it really make it more confusing. But when i have free time i would dig deeper on that aspect and to know th pros and cons
Watched a few of your videos on ev go, you’re sort of bearish and bias towards Evgo , maybe u hold ChargePoint idk , just my observation
I believe there's a lot of uncertainty within the EV charging industry right now. I don't believe any of the companies I've looked at are better investments than the S&P500 (including EVGO, CHPT, DCFC, WBX, BLNK, BEEM, ALLG) and I don't own them. I used to cover VLTA too until they were acquired by Shell. I do have a long position in TSLA though.
@@stockprobe Frankly, a long position on TSLA could create a huge bias against a company like CHPT or EVgo. Realistically, some portion of TSLA's valuation belongs to CHPT and EVGO at this point, but the cult nature of TSLA shares is preventing a more even distribution of value across the EV sector right now.
At this point, from the perspective of a modern EV owner, the Tesla Supercharger network is actually very far behind the biggest public charging providers in pretty much every metric other than the number of stalls and cost-per-stall, which are both deceptive metrics anyway because Supercharger power/throughput per stall is only about 50% of what we see from new ChargePoint, Electrify America, and EVgo deployments.
So from an investment perspective, EVgo represents a fairly significant financial threat to someone holding a TSLA position. From an EV owner perspective (finances aside), I have a far more positive outlook for EVgo than Tesla, with the former charging provider becoming the more premium brand. The equivalent of Shell (EVgo) versus Arco (Tesla) in the gasoline fueling space.
GREAT REPORTING!! THANK YOU. CAN YOU DO A REPORT ON DRIV PLEASE? AS YOU MAY KNOW DRIV IS AN INDEX WHICH HAS APPROXIMATELY 80 PLUS COMPANIES WITHIN IT. THIS INDEX CONTAINS MICRO SOFT, APPLE, TESLA, NIVIDA, FORD, TO NAME A FEW. I'M HOPEFUL BECAUSE OF THE DIVERSITY THIS WILL BE A GOOD INVESTMENT OVER THE LONG TERM. THANKS AGAIN FOR GREAT RESEARCH!
Thanks! I've just looked at DRIV, looks like a fair enough ETF for EVs and autonomous vehicles. First thing I'm noticing is that their holdings seem a little bit-strange? I see a few of their top holdings are Toyota, Apple, Qualcomm... etc. Of course, they need to diversify for the ETF to be a "diversified" investment. But I guess my concern is that it's almost too diversified, and not very focused on EVs and autonomous vehicles. It's probably difficult to diversify with a "sector" that specific. DRIV isn't something I personally would own. But let me know your thoughts!
Once again, Great reporting! I myself am willing to take a chance with DRIV and be patience. They do pay dividends plus they have been close to $35.00 I think possibly higher last year. The diversity in my opinion is worth the risk over time. Thanks again! I look forward to your reports weekly.
@@stockprobe
EV adopting the Tesla standard which is and will drain EVGO away over time unless they pay Tesla to have their standard to stay afloat
I don't think automakers/charging networks need to pay a fee to Tesla to use the connector. It is now a public design, SAE J3400.