EVgo Stock (NASDAQ:EVGO), Trade Ideas

EVgo

EVgo owns and operates a public direct current fast-charging network in the us. Its network of charging stations provides electric vehicle charging infrastructure to consumers and businesses. The network is capable of charging all EV models and meets all charging standards currently available in the us. EVgo partners with national and regional chains of grocery stores, automotive original equipment manufacturers, hotels, shopping centers, gas stations, parking lot operators, local governments and independent property owners in order to locate and deploy its EV charging infrastructure.

EVGO

Earnings

Equities

News

Guidance

Small Cap

Movers

EVgo reports strong Q4 FY23 results, with revenue of $50.0M, network throughput up 257%, and adding 110K new customer accounts. 

Why EV Charging Firm EVgo Shares Are Surging Today

Penny Stocks

BLNK

NAAS

TSLA

Key Takeways:


	XCHG has filed to list on the Nasdaq, reporting 46% year-on-year revenue growth in the first nine months of last year
	Founded by two former Tesla engineers, the company hopes to differentiate itself with its fast-charging stations that feed unused power back into the grid


By Edith Terry

XCHG Looks To Juice Up Its Business With New York IPO

electric vehicle shutter3

Analyst Color

Long Ideas

Analyst Ratings

Tech

Trading Ideas

CHPT

ENVX

PLUG

JPMorgan expects clean tech companies to adopt a defensive stance in Q4 earnings. Enovix Corp stock stands out with potential for significant revenue growth.

Clean Tech Companies In &#39;Defense Mode&#39; Ahead Of Q4 Earnings, Yet Analyst Says This EV Stock May Offer Over 50% Upside

EVgo Inc

EVgo Inc. - Warrants, each whole warrant exercisable for one share of Class A Common Stock at an exercise price of $11.50

Management

Eli Lilly Says Lilly Does Not Endorse Tutanota's Unsolicited Mini-Tender Offer And Is Not Associated In Any Way With Tutanota; Cautions Shareholders That If Tutanota Extends Its Offer, Payment Would Be Delayed Beyond Scheduled Expiration Date Of Friday, May 17

Eli Lilly Recommends Shareholders Reject "Mini-Tender" Offer By Tutanota LLC

PUCK

On April 23, Goal Acquisitions Corp  Received Notice Of Delisting Or Failure To Satisfy A Continued Listing Rule Or Standard From Nasdaq

KSCP

On April 24, Knightscope Received Delisting Determination Letter From Nasdaq Staff

<p>- Reuters Citing Government Notice</p>


Tesla To Lay Off 693 Employees In Nevada

<p>- Reuters Citing Business Intelligence&nbsp;</p>


REPX

Riley Exploration Permian Says Eliminating Positions Of President And Executive Vice President; Bobby D. Riley, Co's CEO, President & Chairman Of Board, Will Remain Co's CEO & Chairman Of Board

<p><strong>Hertz Global Holdings, Inc</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HRZ#NASDAQ">HRZ</a>) reported first-quarter FY24 sales growth of 1.6% year-on-year to $2.08 billion. Adjusted EPS of $(1.28) missed the analyst consensus<a href="https://www.benzinga.com/markets/equities/24/04/38434391/struggle-for-hertz-continues-as-stock-loses-23-heres-why"> estimate of $(0.44)</a>.</p>
<p>The following are the reactions of various analysts regarding the company's first-quarter earnings.</p>
<p><strong>Goldman Sachs &#8211; Reiterate Sell, slash price target from $7 to $4</strong></p>
<p>Analyst Lizzie Dove noted that Hertz&#8217;s 1Q EBITDA miss has heightened investor concerns, particularly regarding HTZ's First Lien Covenant and its minimum liquidity requirement, which are now increasingly in focus.</p>
<p>Though management expects to refresh the fleet over the next year, the analyst believes cash flow management around the fleet will be the key lever for the company to comply with its covenant requirement.</p>
<p>The analyst's model expects trends to get worse before they get better, with $400 million free cash flow burn in FY24 and does not see a clear catalyst path over the next 12 months.</p>
<p>Vehicle depreciation in 1Q24 increased $588 million, or $339 on a per-unit basis, from 1Q23 and within the $339 per unit increase in the quarter, the company noted that $195 million was related to EVs held for sale.</p>
<p>Of the 20,000 electric vehicles, 10,000 have been sold and the carrying value of the remaining 10,000 have been written down to fair value less costs to sell. Also HTZ decided to sell an additional 10,000 EVs, noted the analyst.</p>
<p>Until there are further proof points on HTZ's ability to turnaround operations and execute on its cost savings strategy, the analyst does not believe HTZ will have sufficient ability to invest meaningfully in the fleet.</p>
<p><strong>BofA Securities &#8211; Downgrade to Underperform from Neutral, slash price target from $9 to $3</strong></p>
<p>According to analyst John P. Babcock, the under performance of HTZ in 1Q was driven by higher fleet costs, which are unlikely to meaningfully subside in the near-term.</p>
<p>Liquidity is also an increasing concern among investors, as HTZ has an older fleet that will need to be refreshed at a time when used vehicles are dropping and new vehicle prices are softening only modestly, noted the analyst.</p>
<p>The analyst said fleet costs are likely to remain above historical levels as used vehicle prices will continue trending lower and that electric vehicle prices are likely to decline further.</p>
<p>With the sizable declines in used vehicle prices, HTZ is collecting fewer proceeds from the sales, the analyst observed.</p>
<p>Rising interest costs in 2024 will limit a potential earnings recovery in 2025, the analyst said.</p>
<p><strong>Morgan Stanley- Reiterate Equal-weight, $9 price target</strong></p>
<p>Analyst Adam Jonas said HTZ posted a surprise negative EBITDA driven by DPU of $592 vs. $342 of Morgan Stanley's expectation as new management appear to be taking more of the up-front pain as they catch up on long overdue mark-to-market on the rental fleet.</p>
<p>Hertz stock lost over 70% in the last 12 months. Investors can gain exposure to the stock via<strong> </strong><strong>iShares Core S&amp;P Mid-Cap ETF</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IJH#NYSE">IJH</a>) and <strong>Invesco S&amp;P MidCap 400 Pure Value ETF</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RFV#NYSE">RFV</a>).</p>
<p><strong>Price Action</strong>: HTZ shares were down 5.56% to $4.42 on Friday.</p>
<p><em>Now Read:<a href="https://www.benzinga.com/short-sellers/24/04/38468155/trumps-stock-loss-means-millions-for-short-sellers-a-lot-of-his-businesses-go-belly-up-quickly"> Trump&#8217;s Stock Loss Means Millions For Short Sellers: &#8216;A Lot Of His Businesses Go Belly Up, Quickly&#8217;</a></em></p>
<p><em>Photo: Shutterstock</em></p>


General

Rydex ETF Trust S&P Midcap 400 Pure Value ETF

Hertz Faces Tough Road Ahead: High Fleet Costs, Liquidity Concerns Trigger Downgrades

BZFD

Buzzfeed Received A Letter From Nasdaq Staff Notifying That Co Was No Longer In Compliance With The Nasdaq Audit Committee Requirement

HTLF

UMBF

UMB Financial In Talks To Acquire Rival Bank Heartland

AMC Entertainment Holdings Inc Says We Anticipate That Q2 Box Office Will Continue To Be Affected By 2023 Hollywood Strikes

<ul>
<li><i>Collaboration with global eVTOL player EHang announced during Abu Dhabi's inaugural DRIFTx event</i></li>
<li><i>Agreement aims to promote eVTOLs to transform the way people and goods are transported</i></li>
<li><i>EHang looking to promote business activities with local partners including manufacturing, flight operations, research and development, training and MRO</i><br /><br />&nbsp;</li>
</ul>
<p>ABU DHABI, United Arab Emirates, April 26, 2024 (GLOBE NEWSWIRE) -- EHang Holdings Limited ("EHang" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EH#NASDAQ">EH</a>), the world's leading urban air mobility ("UAM") technology platform company, today announced that the Company is partnering with the leading fintech group in the MENA region Multi Level Group ("MLG") and the Abu Dhabi Investment Office ("ADIO") to drive eVTOL development in the UAE and beyond. During Abu Dhabi's inaugural DRIFTx event, a global platform to discuss and engage innovations that will shape the future of mobility, ADIO and MLG signed a trilateral agreement with EHang.</p>
<p>&nbsp;</p>
<p>EHang is looking to set up their regional headquarters in Abu Dhabi to promote business activities with local partners including manufacturing, flight operations, research and development, training and Maintenance, Repair, and Overhaul ("MRO") facilities.</p>
<p>ADIO will be providing EHang with a comprehensive range of growth-enabling support, including providing data and information related to establishing and operating a manufacturing and industrial services business in Abu Dhabi; setting up enablement and links with the Abu Dhabi ecosystem and international trade opportunities.</p>
<p><strong>Badr Al-Olama, Director General of Abu Dhabi Investment Office (ADIO),</strong> said: "ADIO continues to work with leading global players to accelerate the adoption of smart and autonomous vehicles across air, land and sea. Our collaboration with Multi Level Group, and air mobility leaders such as EHang, will play a key role in driving Abu Dhabi's efforts in promoting eVTOLs to transform the way people and goods are transported and in advancing the future of mobility globally."</p>
<p>EHang (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EH#NASDAQ">EH</a>) is one of the world's leading urban air mobility (UAM) technology platform companies. It provides customers in various industries with pilotless eVTOL aircraft and unmanned aerial vehicle (UAV) systems and solutions. EHang's EH216-S has obtained the world's first type certificate, production certificate and standard airworthiness certificate for passenger-carrying pilotless eVTOL aircraft issued by the Civil Aviation Administration of China.</p>
<p><strong>Mr. Abdul Jabbar Al Sayegh, Chairman of Multi Level Group (MLG)</strong> expressed enthusiasm about the groundbreaking collaboration between MLG, ADIO and global leader EHang, aimed at driving forward the future of autonomous aerial vehicles development.</p>
<p>He said: "This partnership marks a significant milestone in our collective efforts to revolutionise the way people and goods are transported. By joining forces with EHang, a pioneer in urban air mobility technology, and with the support of ADIO, we are poised to establish Abu Dhabi as a hub for the advancement of eVTOLs and unmanned aerial vehicles. It underscores MLG's dedication to driving forward innovation and shaping the future of mobility in the UAE and beyond."</p>
<p><strong>Mr. Huazhi Hu, Founder, CEO and Chairman of EHang,</strong> said: "Abu Dhabi is at the forefront of the innovative technologies, and offers one of the best ecosystems globally for UAM solutions. We are thrilled to have MLG and ADIO as our partners to bring our eVTOLs and expand our footprint into the MENA region. EHang remains steadfast in shaping the future of air transportation and contributing to Abu Dhabi's journey towards becoming a global leader in the UAM sector."</p>
<p>SAVI supports the innovation and the commercialisation of smart and autonomous vehicle technologies in the UAE by providing state-of-the art facilities and value-added services within an enabling regulatory environment. The cluster is located in Abu Dhabi's Masdar City and will include R&amp;D labs. It will utilise the existing infrastructure within Abu Dhabi for testing and certification, large scale workshops, hangars and manufacturing facilities, which is connected through Abu Dhabi's global logistics network.</p>
<p>Supported by ADIO and SAVI, Abu Dhabi's inaugural DRIFTx is an international platform and exhibition to showcase the latest in advanced urban mobility applications across air, land, and sea. Being held from 25-26 April 2024 at Yas Marina Circuit, the event features engaging discussions, a never-before-seen display of flying taxis, driverless cars, and autonomous boats, and one-of-a-kind experiences.</p>
<p><br />&nbsp;</p>


Global

Multi Level Group, EHang And ADIO Seal Strategic Collaboration To Drive eVTOL Development In The UAE

<p>Bridgewater Bancshares, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BWB#NASDAQ">BWB</a>), the parent company of Bridgewater Bank, today announced a significant milestone with the appointment of Joe Chybowski as President, effective April 26th, 2024. This strategic move, alongside pivotal leadership transitions, reaffirms Bridgewater's commitment to excellence and its vision for a dynamic future. Joe, currently serving as Chief Financial Officer, will take on the additional role of President, collaborating closely with Jerry Baack, the incumbent President &amp; Chief Executive Officer, to chart a future characterized by strategic excellence and innovation. Jerry will retain his role as Chairman of the Board and CEO.</p>
<p>This press release features multimedia. View the full release here: <a href="https://www.businesswire.com/news/home/20240426727100/en/">https://www.businesswire.com/news/home/20240426727100/en/</a></p>
<p>&nbsp;</p>
<p><i>"Joe's exceptional leadership and strategic vision have been instrumental in Bridgewater's success,"</i> expressed Jerry Baack, Chairman and CEO. <i>"I am thrilled to welcome him as President, and I look forward to our continued collaboration in guiding Bridgewater towards new horizons."</i></p>
<p>Joe's exemplary track record since joining Bridgewater in 2013 underscores his instrumental role in propelling Bridgewater from a $460 million bank to one of the nation's top-performing institutions with assets of $4.7 billion. Throughout Joe's tenure, he has significantly enhanced Bridgewater's financial standing through capital raises and strategic initiatives. His leadership spans corporate development, strategic operations, and business scalability initiatives. Joe also successfully guided Bridgewater through its IPO in 2018 and more recently has effectively managed Bridgewater through unique macroeconomic challenges in the banking industry. Joe's dedication to excellence and innovation has garnered recognition, including being honored with the esteemed "40 Under 40" award by the <i>Minneapolis/St. Paul Business Journal</i> in 2024.</p>
<p>In his new dual capacity, Joe will continue to ensure the integrity of Bridgewater's financial strategies while driving initiatives that foster innovation and expansion. This expanded role empowers Joe to exercise progressive influence across all facets of the organization, including contributing to strategic decision-making and corporate governance that drives Bridgewater towards its overarching goals.</p>
<p>In conjunction with Joe's appointment, Bridgewater announced additional strategic role transitions to fortify its leadership structure:</p>
<p>Mary Jayne Crocker has been appointed to the role of Executive Vice President and Chief Strategy Officer, previously serving as Executive Vice President and Chief Operating Officer. In this capacity, Mary Jayne will drive the shaping of long-term strategic plans and ensure alignment with Bridgewater's objectives. Her expertise will be instrumental in crafting strategies that keep Bridgewater ahead of the curve and maintain its competitive edge in the market. Mary Jayne is a seasoned Twin Cities' banking leader with over 30 years' experience.</p>
<p><i>"Mary Jayne stands as one of the most esteemed banking executives in the Twin Cities," </i>said Joe.<i> "As Bridgewater's inaugural employee in 2005, her strong familiarity with every facet of our operations is unparalleled. With her exceptional expertise now in this pivotal role, we are poised for continued innovation and primed to excel in an ever-evolving market."</i></p>
<p>Laura Espeseth, previously Senior Vice President Controller, steps into the role of Chief Accounting Officer, where she will be responsible for all accounting operations, ensuring the integrity of financial reporting, and compliance with regulatory requirements. In this capacity, Laura will play a key role in shaping Bridgewater's financial strategy and ensuring its long-term financial health.</p>
<p><i>"Laura is a seasoned financial leader with a keen eye for detail and unmatched dedication," </i>said Joe.<i> "Her passion and strategic vision will help champion our collective vision for success. I eagerly anticipate her impact in this role."</i></p>
<p>These leadership changes demonstrate Bridgewater's commitment to developing talent from within, ensuring continuity and stability while injecting innovative perspectives to support ongoing success. With a focus on innovation, strategic planning and providing clients with continual best-in-class service, Bridgewater is well-equipped to adapt to changing markets and best support its clients, investors, and employees.</p>


Bridgewater Bancshares Promotes CFO Joe Chybowski To President, Effective April 26; Announces Strategic Leadership Transitions To Propel Future Growth

<p>AMC Entertainment Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) (the "Company," or "AMC"), today released preliminary results for the first quarter ended March 31, 2024. The preliminary results are unaudited, subject to completion of the Company's financial reporting processes, based on information known by management as of the date of this press release and do not represent a comprehensive statement of our financial results for the quarter ended March 31, 2024. AMC expects:</p>
<ul>
<li>Total revenues for the quarter ended March 31, 2024, to be approximately $951.4 million compared to $954.4 million for the quarter ended March 31, 2023.</li>
<li>Net loss for the quarter ended March 31, 2024, to be $(163.5) million compared to a net loss of $(235.5) million for the quarter ended March 31, 2023.</li>
<li>Diluted loss per share for the quarter ended March 31, 2024, to be $(0.62) compared to diluted loss per share of $(1.71) for the quarter ended March 31, 20231.</li>
<li>Adjusted EBITDA to be $(31.6) million for the quarter ended March 31, 2024, compared to Adjusted EBITDA of $7.1 million for the quarter ended March 31, 2023. Included in the prior year's quarterly results ended March 31, 2023 was a previously disclosed $16.7 million benefit to Adjusted EBITDA related to an early termination of a theatre lease.</li>
<li>Cash and cash equivalents at March 31, 2024 to be $624.2 million.</li>
</ul>
<p>1 Based on 263.4 million weighted average shares outstanding as of March 31, 2024 and 137.4 million weighted average shares outstanding as of March 31, 2023.</p>
<p>Adjusted EBITDA is a non-GAAP financial measure and tables reconciling this non-GAAP financial measure to its closest respective GAAP financial measures are included in this press release.</p>
<p>In March 2024, AMC launched an at-the-market ("ATM") equity program to sell its Class A Common Stock having an aggregate offering price of up to $250.0 million. As of April 25, 2024, AMC has sold approximately 12.8 million shares of its Class A common stock and has raised gross proceeds of $41.8 million, before commissions and fees, all of which was received after March 31, 2024.</p>
<p>Adam Aron, Chairman and CEO of AMC Entertainment, commented, "As predicted, the box office in the first quarter was adversely impacted by the 2023 Hollywood writers and actors strikes. Nonetheless, AMC outperformed. AMC exceeded consensus estimates for Revenue, Adjusted EBITDA, Net Income, and Diluted EPS. While we anticipate that the second quarter box office will continue to be affected by the 2023 Hollywood strikes, we are ebullient about the upcoming film slate, and we expect to see an increasingly strong box office as the year progresses."</p>
<p>AMC will report its full results for the first quarter ended March 31, 2024, after the market closes on Wednesday, May 8, 2024.</p>
<p>The Company will host an earnings webcast accessible through the Investor Relations section of AMC's website at <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Finvestor.amctheatres.com%2F&amp;esheet=53957809&amp;newsitemid=20240426331252&amp;lan=en-US&amp;anchor=investor.amctheatres.com%2F&amp;index=1&amp;md5=7014cea2cf17b2ab3dc5ac9108dcc941">investor.amctheatres.com/</a>. During the webcast the company will take questions from both AMC Investor Connect members and equity research analysts. AMC investors can visit <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.amctheatres.com%2Fstockholders&amp;esheet=53957809&amp;newsitemid=20240426331252&amp;lan=en-US&amp;anchor=www.amctheatres.com%2Fstockholders&amp;index=2&amp;md5=11dfc9e21c93b74d01f29ed9be5be336">www.amctheatres.com/stockholders</a> to sign up for membership in AMC Investor Connect and submit their written questions. The link to submit questions will be available from April 30, 2024 until May 7, 2024.</p>
<p>Investors and interested parties should go to the website (<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Finvestor.amctheatres.com%2F&amp;esheet=53957809&amp;newsitemid=20240426331252&amp;lan=en-US&amp;anchor=investor.amctheatres.com%2F&amp;index=3&amp;md5=9b1c42c19ca4cbfad10bee6f5eff3460">investor.amctheatres.com/</a>) at least 15 minutes before the earnings webcast to register, and/or download and install any necessary audio software.</p>
<ul>
<li>Date: Wednesday, May 8, 2024</li>
<li>Time: 4:00 PM CDT / 5:00 PM EDT</li>
</ul>
<p>An archive of the webcast will be available on the Company's website after the webcast for a limited time.</p>


AMC Entertainment Holdings, Inc. Previews Q1 2024 Preliminary Results; Sees Q1 EPS $(0.62) Vs $(0.79) Est.; Revenue $951.4M Vs $861.06M Est.

<p><strong>Enterprise Prods Partners's</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EPD#NYSE">EPD</a>) short percent of float has risen 5.83% since its last report. The company recently reported that it has <strong>18.53 million shares sold short</strong>, which is 1.27% of all regular shares that are available for trading. Based on its trading volume, <strong>it would take traders 4.49 days to cover their short positions on average.</strong></p>
<h3>Why Short Interest Matters</h3>
<p>Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.</p>
<p>Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.</p>
<p><strong>See Also:</strong> <a href="https://www.benzinga.com/short-interest"><strong>List of the most shorted stocks</strong></a></p>
<h3>Enterprise Prods Partners Short Interest Graph (3 Months)</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1714162522_0.png" alt="short_fig" /></p>
<p>As you can see from the chart above the percentage of shares that are sold short for Enterprise Prods Partners has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.</p>
<h3>Comparing Enterprise Prods Partners's Short Interest Against Its Peers</h3>
<p>Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.</p>
<p>According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Enterprise Prods Partners's peer group average for short interest as a percentage of float is 3.95%, which means the company has <strong>less</strong> short interest than most of its peers.</p>
<p>Did you know that increasing short interest can actually be <strong>bullish</strong> for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/"><strong>This post by Benzinga Money explains how you can profit from it.</strong></a></p>
<p><em>This article was generated by Benzinga's automated content engine and was reviewed by an editor.</em></p>


Short Sellers

Short Ideas

Peering Into Enterprise Prods Partners's Recent Short Interest

<p>Zhihu Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZH#NYSE">ZH</a>, HKEX: 2390)))) ("Zhihu" or the "Company"), a leading online content community in China, today announced that it plans to&nbsp;change the ratio of its American depositary shares ("ADSs") to its Class A ordinary shares (the "ADS Ratio Change"), par value US$0.0001 per share, from the current ratio of two ADSs representing one Class A ordinary share to a new ratio of one ADS representing three Class A ordinary shares, effective on or about May 10, 2024, U.S. Eastern Time (the "Effective Date").</p>
<p>For the Company's ADS holders, the ADS Ratio Change will have the same effect as a one-for-six reverse ADS split. Upon&nbsp;the Effective Date, ADS holders will be required to surrender and exchange every six existing ADSs then held for one new ADS. JPMorgan Chase Bank, N.A., as the depositary bank for the Company's ADS program, will arrange for the exchange. The Company's ADSs will continue to be traded on the New York Stock Exchange under the ticker symbol "ZH."</p>
<p>No fractional new ADSs will be issued in connection with the ADS Ratio Change. Instead, fractional entitlements to new ADSs will be aggregated and sold by the depositary bank and the net cash proceeds from the sale of the fractional ADS entitlements (after deduction of fees, taxes, and expenses, where applicable) will be distributed to the applicable ADS holders by the depositary bank. The ADS Ratio Change will have no impact on the Company's underlying Class A ordinary shares, and no ordinary shares will be issued or cancelled in connection with the ADS Ratio Change.</p>
<p>As a result of the ADS Ratio Change, the ADS trading price is expected to increase proportionately upon the effectiveness of the ADS Ratio Change, although the Company can give no assurance that the ADS trading price after the ADS Ratio Change will be equal to or greater than six times the ADS trading price before the change.</p>


Stock Split

Zhihu Inc. Announces Plan To Implement ADS Ratio Change From 2 ADS Representing 1 Common Share To A Ratio Of 1 ADS Representing 3 Common Shares, Effective On Or About May 10, 2024

<p><strong>StoneCo's</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STNE#NYSE">STNE</a>) short percent of float has fallen 8.41% since its last report. The company recently reported that it has <strong>12.05 million shares sold short</strong>, which is 4.25% of all regular shares that are available for trading. Based on its trading volume, <strong>it would take traders 1.59 days to cover their short positions on average.</strong></p>
<h3>Why Short Interest Matters</h3>
<p>Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.</p>
<p>Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.</p>
<p><strong>See Also:</strong> <a href="https://www.benzinga.com/short-interest"><strong>List of the most shorted stocks</strong></a></p>
<h3>StoneCo Short Interest Graph (3 Months)</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1714162517_0.png" alt="short_fig" /></p>
<p>As you can see from the chart above the percentage of shares that are sold short for StoneCo has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.</p>
<h3>Comparing StoneCo's Short Interest Against Its Peers</h3>
<p>Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.</p>
<p>According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, StoneCo's peer group average for short interest as a percentage of float is 4.94%, which means the company has <strong>less</strong> short interest than most of its peers.</p>
<p>Did you know that increasing short interest can actually be <strong>bullish</strong> for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/"><strong>This post by Benzinga Money explains how you can profit from it.</strong></a></p>
<p><em>This article was generated by Benzinga's automated content engine and was reviewed by an editor.</em></p>


STNE

Looking Into StoneCo's Recent Short Interest

<p><strong>SunPower's</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPWR#NYSE">SPWR</a>) short percent of float has fallen 7.73% since its last report. The company recently reported that it has <strong>39.25 million shares sold short</strong>, which is 59.11% of all regular shares that are available for trading. Based on its trading volume, <strong>it would take traders 7.33 days to cover their short positions on average.</strong></p>
<h3>Why Short Interest Matters</h3>
<p>Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.</p>
<p>Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.</p>
<p><strong>See Also:</strong> <a href="https://www.benzinga.com/short-interest"><strong>List of the most shorted stocks</strong></a></p>
<h3>SunPower Short Interest Graph (3 Months)</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1714162511_0.png" alt="short_fig" /></p>
<p>As you can see from the chart above the percentage of shares that are sold short for SunPower has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.</p>
<h3>Comparing SunPower's Short Interest Against Its Peers</h3>
<p>Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.</p>
<p>According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, SunPower's peer group average for short interest as a percentage of float is 10.43%, which means the company has <strong>more</strong> short interest than most of its peers.</p>
<p>Did you know that increasing short interest can actually be <strong>bullish</strong> for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/"><strong>This post by Benzinga Money explains how you can profit from it.</strong></a></p>
<p><em>This article was generated by Benzinga's automated content engine and was reviewed by an editor.</em></p>


SPWR

Peering Into SunPower's Recent Short Interest

<p>Clever Leaves Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLVR#NASDAQ">CLVR</a>, CLVRW)))) ("Clever Leaves" or the "Company"), a global medicinal cannabis company, today announced that its Board of Directors (the "Board") determined to voluntarily delist its common shares, without par value (the "common shares") and warrants, each exercisable for 1/30th common share at an exercise price of $11.50 (the "Warrants" and together with the common shares, the "Securities") from The Nasdaq Stock Market LLC ("Nasdaq") and deregister its Securities in order to terminate and suspend its reporting obligations under the Securities and Exchange Act of 1934, as amended (the "Exchange Act").<br /><br />&nbsp;</p>
<p>The Company today notified Nasdaq of its intention to voluntarily delist its Securities from Nasdaq. The Company intends to file a Form 25 with the Securities and Exchange Commission ("SEC") to effect the delisting and deregistration of its Securities on or about May 6, 2024 to effect the delisting from Nasdaq and the deregistration of the Securities under Section 12(b) of the Exchange Act. As a result, the Company expects the last day of trading of its Securities on Nasdaq will be on or about May 16, 2024.</p>
<p>Following the delisting of the Company's Securities from Nasdaq, the Company intends to file a Form 15 with the SEC on or about May 16, 2024 to suspend its reporting obligations under the Exchange Act. As a result of the filing of the Form 15, the Company's obligation to file certain Exchange Act reports and forms with the SEC, including Forms 10-K, 10-Q, and 8-K, will cease. Other SEC filing requirements will terminate upon the effectiveness of the deregistration. The Company expects that the deregistration of its Securities will become effective 90 days after the filing of the Form 15 with the SEC. The documents filed with the SEC will be available on the Company's website below.</p>
<p>The Board's decision comes as part of its evaluation of internal and external options and is the product of careful review and careful consideration of a number of factors, including, but not limited to, the Company's previous and likely future non-compliance with the continued listing requirements of Nasdaq that would eventually result in delisting of the Securities by Nasdaq and the required personnel resources and the high costs relating to Exchange Act and Nasdaq disclosure and reporting requirements and related regulatory burdens, which have resulted and would continue to result in significant operating expense.</p>


CLVR

Clever Leaves Announces Voluntary Delisting Of Common Shares And SEC Deregistration

CYTK

On April 23, Cytokinetics  Entered Employment Offer Letter With Sung H. Lee, Pursuant To Which, Lee Agreed To Serve As Executive Vice President, CFO

Newell Brands Inc Restructuring And Related Charges Due To Organizational Realignment Plan Estimated To Be In The Range Of $75M-$90M; Restructuring And Related Charges Due To Organizational Realignment Plan Expected To Be Substantially Incurred By The End Of 2024

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>Investors wondering why stocks are down today have come to the right place as we have the answer to that question!</p>



<p>The reason why stocks are down today has to do with <a href="https://finance.yahoo.com/news/stock-market-today-stocks-sink-as-hot-inflation-torpedoes-rate-cut-hopes-130403797.html">March Consumer Price Index (CPI) data</a>. Inflation came in hotter than expected at 3.5% year-over-year, as compared to the estimated 3.4% for the month.</p>



<p>Investors will also note that the March CPI data shows that inflation increased by .4% compared to the February 2024 CPI inflation data. Experts were predicting a month-over-month increase of .3%.</p>



<p>That&rsquo;s disheartening for investors who were hoping that inflation was cooling down. The idea was that falling inflation would result in the Federal Reserve easing up on its high interest rates. This latest data could see the Fed leave these rates unchanged all the way through July if not longer.</p>



<p>Let&rsquo;s check out how the <a href="https://finance.yahoo.com/world-indices/">major stock indices</a> are reacting to the March CPI data below!</p>



<h2>Stocks Down Today: Major Indices Fall</h2>



<ul><li>Starting us off is the S&amp;P 500 with a .94% drop as of Wednesday morning.</li>



<li>Next is the Dow Jones Industrial Average with a 1.2% decline as of this writing.</li>



<li>Closing us out is the NASDAQ Composite with its .94% decrease on Wednesday.</li>
</ul><p>Investors looking for even more of the most recent stock market stories are in the right place!</p>



<p>InvestorPlace is home to all of the hottest stock market news traders need to know about on Wednesday! A few examples include why shares of <strong>EVgo</strong>&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/evgo-stock-quote/"><strong>EVGO</strong></a>), <strong>Zillow&nbsp;</strong>(NASDAQ:<a href="https://investorplace.com/stock-quotes/z-stock-quote/"><strong>Z</strong></a>) and <strong>SoundHound AI</strong>&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/soun-stock-quote/"><strong>SOUN</strong></a>) stock are int he news today. All of that info is available at the following links!</p>



<h2>More Wednesday Stock Market News</h2>



<ul><li><a href="https://investorplace.com/2024/04/what-does-expanded-plug-charge-actually-mean-for-evgo-evgo-stock/">What Does Expanded Plug &amp; Charge Actually Mean for EVgo (EVGO) Stock?</a></li>



<li><a href="https://investorplace.com/2024/04/why-jefferies-is-pounding-the-table-on-zillow-z-stock/">Why Jefferies Is Pounding the Table on Zillow (Z) Stock</a></li>



<li><a href="https://investorplace.com/2024/04/soun-stock-alert-the-150-million-reason-soundhound-ai-is-down-today/">SOUN Stock Alert: The $150 Million Reason SoundHound AI Is Down Today</a></li>
</ul><p><em>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;</em><a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank"><em>Publishing Guidelines</em></a><em>.</em></p>
<h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2023/10/no-1-ai-investment-might-be-this-company-youve-never-heard-of/?cid=MKT764787&amp;eid=MKT771245">The #1 AI Investment Might Be This Company You&rsquo;ve Never Heard Of</a>
					</li>
																<li>
						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT771236">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
					</li>
																<li>
						<a href="https://investorplace.com/2021/01/one-percenter-issues-urgent-warning/?cid=MKT499868&amp;eid=MKT793997">It doesn&rsquo;t matter if you have $500 or $5 million. Do this now.</a>
					</li>
									</ul><div>
			<div></div>
						<div></div>
					</div>
	<p>The post <a href="https://investorplace.com/2024/04/why-are-stocks-down-today-april-10th/">Why Are Stocks Down Today?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

Why Are Stocks Down Today?

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>Charging electric vehicles (EVs) in the U.S. is about to get easier. EV charging company <strong>EVgo</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/evgo-stock-quote/"><strong>EVGO</strong></a></span>) just announced that it will be <a href="https://electrek.co/2024/04/09/evgo-expands-autocharge-eligibility-over-50-ev-models-plug-charge-capabilities/">expanding</a> its Autocharge+ program to 50 EVs with Plug &amp; Charge capabilities.</p>



<p>What does this mean? Well, anyone with an EV falling into that category will be able to simply pull up, plug in and &ldquo;skip the time required to access an app, credit card, or RFID.&rdquo;</p>



<p>This development hasn&rsquo;t boosted EVGO stock yet today. However, that doesn&rsquo;t mean investors shouldn&rsquo;t pay attention to what it could mean for the struggling company.</p>



<h2>What&rsquo;s Happening With EVGO Stock?</h2>



<p>Since the news broke yesterday, EVGO stock hasn&rsquo;t been performing particularly well. Shares are down about 4% as of this writing. After a month of trending downward, EVgo could certainly do with a growth-driving catalyst. </p>



<p>Thankfully, though, this news could still help usher in a turnaround for the troubled company. With a price of around $2 per share, EVGO has the potential to be a bit more volatile. But unlike most of its peers, the stock also still has the potential to pull itself above the $5 mark.</p>



<p>EVgo operates in a fast-growing market that has <a href="https://www.mckinsey.com/features/mckinsey-center-for-future-mobility/our-insights/can-public-ev-fast-charging-stations-be-profitable-in-the-united-states">plenty of demand</a> and isn&rsquo;t oversaturated yet. Now, the expansion of Autocharge+ reminds investors of the firm&rsquo;s focus on growth.</p>



<p>Stacey Stewart, Senior Vice President of Charging at the company, <a href="https://www.businesswire.com/news/home/20240409877127/en/EVgo-Expands-Autocharge-to-More-Than-50-Electric-Vehicle-Models">issued</a> the following statement about the news:</p>




<p>&ldquo;The key to achieving widespread EV adoption in the U.S. is giving EV drivers a convenient, streamlined charging experience, and Autocharge+ does just that [&hellip;] Through our collaboration with automakers and ongoing interoperability testing with new and existing EV models, EVgo continues to enhance the customer experience across the network for everyone &ndash; no matter which EV model they choose to drive.&rdquo;</p>




<p>Investors should note that Plug &amp; Charge EVs operate with Combined Charging System (<span>CCS</span>) connectors. However, EVGo plans on opening its infrastructure up to vehicles with the North American Charging Standard&nbsp;(NACS). Doing so will enable the charging firm to serve even more drivers.</p>



<h2>What Comes Next?</h2>



<p>There&rsquo;s no denying that EVGO stock comes with a fair amount of risk. But if investors don&rsquo;t mind stomaching that, shares could prove an excellent way to gain exposure to the EV charging market. Some EV brands have demonstrated stable growth, proving that many Americans are still committed to driving electric even as the broader electric vehicle market struggles at the moment.</p>



<p><em>InvestorPlace</em> contributor Larry Ramer points to this trend as an encouraging development for companies like EVgo. As Ramer <a href="https://investorplace.com/2024/04/contrarians-delight-3-stocks-to-scoop-up-amid-the-ev-demand-slump/">notes</a>, &ldquo;more EVs on the roads will translate to increased demand for EVgo&rsquo;s chargers over the longer term.&rdquo; Between that and its recent Autocharge+ expansion, EVGO stock could rise again, even if its current growth is slow. </p>



<p><em>On the date of publication, Samuel O&rsquo;Brient&nbsp;did not hold (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.</em></p>
<div><p>Samuel O&rsquo;Brient is a Reporter for InvestorPlace, where his work focuses primarily on financial markets, global economic trends, and public policy. O&rsquo;Brient writes a weekly column on recent political news that investors should be following.</p></div><h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2023/10/no-1-ai-investment-might-be-this-company-youve-never-heard-of/?cid=MKT764787&amp;eid=MKT771245">The #1 AI Investment Might Be This Company You&rsquo;ve Never Heard Of</a>
					</li>
																<li>
						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT771236">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
					</li>
																<li>
						<a href="https://investorplace.com/2021/01/one-percenter-issues-urgent-warning/?cid=MKT499868&amp;eid=MKT793997">It doesn&rsquo;t matter if you have $500 or $5 million. Do this now.</a>
					</li>
									</ul><div>
			<div></div>
						<div></div>
					</div>
	<p>The post <a href="https://investorplace.com/2024/04/what-does-expanded-plug-charge-actually-mean-for-evgo-evgo-stock/">What Does Expanded Plug &amp; Charge Actually Mean for EVgo (EVGO) Stock?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

What Does Expanded Plug & Charge Actually Mean for EVgo (EVGO) Stock?

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p><strong>Adial Pharmaceuticals</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/adil-stock-quote/"><strong>ADIL</strong></a>) stock is heading higher on Wednesday following <a href="https://finance.yahoo.com/news/adial-pharmaceuticals-announces-peer-reviewed-123000901.html">positive results from a peer review</a> of its Alcohol Use Disorder (<a href="https://investorplace.com/stock-quotes/aud-stock-quote/"><strong>AUD</strong></a>) treatment.</p>



<p>This peer review focuses on Phase 3 clinical trial results for AD04. The article highlights the positive performance of the treatment as well as the safety data. The publication behind this article is the <em>European Journal of Internal Medicine</em>.</p>



<p>Adial Pharmaceuticals CEO Cary Claiborne said the following about the peer-reviewed results.</p>




<p>&ldquo;Most importantly, the publication highlighted the potential of AD04 for the treatment for AUD among patients with a specified genetic background. Ultimately, we believe AD04 could pave the way for precision treatments tailored to individuals with AUD, offering a novel strategy to not only manage alcohol consumption but also mitigate liver damage in affected populations.&rdquo;</p>




<h2>How This Affects ADIL Stock Today</h2>



<p>Investors are celebrating the peer-reviewed article with heavy trading of ADIL stock on Wednesday. That has more than 75 million shares of the company&rsquo;s stock changing hands as of this writing. This is well above its daily average trading volume of about 4 million shares.</p>



<p>ADIL stock is up 59.3% as of Wednesday morning, erasing its losses year-to-date.</p>



<p>Investors who want even more of the most recent stock market stories today are going to want to stick around!</p>



<p> We are offering up insight into all of the hottest stock market news worth reading about on Wednesday! That includes why stocks are down today, an <strong>EVgo</strong>&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/evgo-stock-quote/"><strong>EVGO</strong></a>) update and positive analyst coverage for <strong>Zillow&nbsp;</strong>(NASDAQ:<a href="https://investorplace.com/stock-quotes/z-stock-quote/"><strong>Z</strong></a>) stock. All of this news is ready to go at the links below!</p>



<h2>More Stock Market News for Wednesday</h2>



<ul><li><a href="https://investorplace.com/2024/04/why-are-stocks-down-today-april-10th/">Why Are Stocks Down Today?</a></li>



<li><a href="https://investorplace.com/2024/04/what-does-expanded-plug-charge-actually-mean-for-evgo-evgo-stock/">What Does Expanded Plug &amp; Charge Actually Mean for EVgo (EVGO) Stock?</a></li>



<li><a href="https://investorplace.com/2024/04/why-jefferies-is-pounding-the-table-on-zillow-z-stock/">Why Jefferies Is Pounding the Table on Zillow (Z) Stock</a></li>
</ul><p><em>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;</em><a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank"><em>Publishing Guidelines</em></a><em>.</em></p>
<h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2023/10/no-1-ai-investment-might-be-this-company-youve-never-heard-of/?cid=MKT764787&amp;eid=MKT771245">The #1 AI Investment Might Be This Company You&rsquo;ve Never Heard Of</a>
					</li>
																<li>
						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT771236">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
					</li>
																<li>
						<a href="https://investorplace.com/2021/01/one-percenter-issues-urgent-warning/?cid=MKT499868&amp;eid=MKT793997">It doesn&rsquo;t matter if you have $500 or $5 million. Do this now.</a>
					</li>
									</ul><div>
			<div></div>
						<div></div>
					</div>
	<p>The post <a href="https://investorplace.com/2024/04/why-is-adial-pharmaceuticals-adil-stock-up-59-today/">Why Is Adial Pharmaceuticals (ADIL) Stock Up 59% Today?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

Why Is Adial Pharmaceuticals (ADIL) Stock Up 59% Today?

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>Investors may want to consider buying some of the top EV charging stocks for the long haul. For one, if the U.S. is serious about electric vehicle adoption, the EV charging market must grow nearly tenfold.&nbsp;</p>



<p>&ldquo;The number of charge points in the U.S. is forecast to rise from about 4 million currently to 35 million in 2030,&rdquo; according to <a href="https://www.pwc.com/us/en/industries/industrial-products/library/electric-vehicle-charging-market-growth.html">PwC analysis</a>. &ldquo;The accelerated expansion of the charging infrastructure will be needed to serve the needs of a new generation of EV owners. We forecast that the number of EVs in the U.S. will climb a steep hockey-stick trajectory to 27 million by 2030&nbsp;and 92 million by 2040. This compares to about 3 million EVs in 2022.&rdquo;</p>



<p>Also, according to McKinsey,&nbsp;the U.S. will need about <a href="https://www.mckinsey.com/featured-insights/sustainable-inclusive-growth/chart-of-the-day/evs-charge-up">28 million ports by 2030</a>. They added that private ports could increase from about 2.5 million to 27 million.</p>



<p>Unfortunately, we won&rsquo;t see a great deal of EV adoption without the growth of EV charging stations, partly because of range anxiety issues. Again, more charging infrastructure is necessary if the U.S. is serious about further EV adoption. </p>



<p>All of these factors could help fuel the following EV charging stocks.</p>



<h2><strong>EVgo (EVGO)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/evgo3_1600-300x169.png" alt="An image of two Evgo, Inc. (EVGO) charging stations"><div>Source: Tada Images / Shutterstock.com</div></div><p>After topping at around $3.37,&nbsp;<strong>EVgo</strong>&nbsp;(NASDAQ:<span><a href="https://investorplace.com/stock-quotes/evgo-stock-quote/"><strong>EVGO</strong></a></span>) pulled back to $2.16, which caught triple-bottom support. It could bounce again if it follows the same pattern since late October.  </p>



<p>The company posted a wider loss of $0.12 in its recent quarter from $0.06 year over year. However, sales of $50 million &mdash; up 83.6% year over year &mdash; beat by $5.69 million. Plus, profitability is expected to improve as the EV market expands.&nbsp;The company also expects to be EBITDA-positive <a href="https://seekingalpha.com/news/4077296-evgo-profitability-improve-ev-market-expands">by 2025,</a> as well.</p>



<p>Better, analysts at RBC Capital upgraded the stock to an outperform rating from sector performance, with a target of $4.&nbsp;&ldquo;The automotive industry is moving toward electrification, and we believe EVgo is well positioned to benefit from this secular trend,&rdquo;&nbsp;<a href="https://www.streetinsider.com/Analyst+PT+Change/RBC+Capital+Upgrades+EVgo%2C+Inc.+%28EVGO%29+to+Outperform/22896661.html?classic=1">RBC Capital added</a>.</p>



<h2><strong>Beam Global (BEEM)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/05/electric-vehicle-ev-stocks-charging-black-neon-1600-300x169.jpg" alt="Electric car backlit by cyan blue neon light next to EV charger with cyan blue light and lightning bolt symbol, all against a black background. ev stocks to buy"><div>Source: shutterstock.com/JLStock</div></div><p>We can also look at beaten-down shares of&nbsp;<strong>Beam Global</strong>&nbsp;(NASDAQ:<span><a href="https://investorplace.com/stock-quotes/beem-stock-quote/"><strong>BEEM</strong></a></span>).</p>



<p>After topping out at around $8.50, it trades at $5.90. It&rsquo;s another one of the top EV charging stocks to buy and hold long-term. The company is expanding in Europe and was just granted a U.S. patent for wireless EV charging.</p>



<p>&ldquo;The EV ARC is already the easiest and fastest deployed EV charging infrastructure solution. With this new patented technology, a driver will have the ability to fuel a vehicle by doing no more than parking on the EV ARC,&rdquo;&nbsp;<a href="https://beamforall.com/beam-global-granted-u-s-patent-for-wireless-inductive-electric-vehicle-charging-powered-by-renewable-energy/#">said&nbsp;Desmond Wheatley</a>, CEO of Beam Global.&nbsp;&ldquo;We believe that increasing numbers of EVs will be equipped with wireless charging receivers and fleet operators and public charging operators will seek efficient methods to deploy the transmitters without having to perform permitted construction and electrical work.&rdquo;</p>



<p>The company also secures federal clients, including those from the U.S. Food and Drug Administration (FDA), the Missile Defense Agency, the National Park Service and the Small Business Administration. With further contracts and continued growth in Europe, I&rsquo;d like to see BEEM double, if not triple, from current prices.</p>



<h2><strong>Allego (ALLG)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/allg-stock-1-300x169.jpg" alt="A close-up shot of an electric vehicle plugged into an Allego (ALLG) charger."><div>Source: szmuli / Shutterstock.com</div></div><p>There&rsquo;s also Netherlands-based&nbsp;<strong>Allego</strong>&nbsp;(NYSE:<span><a href="https://investorplace.com/stock-quotes/allg-stock-quote/"><strong>ALLG</strong></a></span>). The stock exploded from about $0.06 to $2.11. Now trading at $1.13, there&rsquo;s still a good deal of opportunity to be had in the longer term.</p>



<p>Currently, the company has a network of about 35,000 charging stations in 16 countries, positioning it well for future EV charging station growth. It also recently partnered with&nbsp;<strong>Ford Motor</strong>&nbsp;(NYSE:<span><a href="https://investorplace.com/stock-quotes/f-stock-quote/"><strong>F</strong></a></span>) to bring ultra-fast charging infrastructure to Ford Motor dealerships in Europe.</p>



<p>&ldquo;The new collaboration will further expand convenient and reliable charging solutions for customers of Ford electric vehicles (EVs) including the new electric Explorer, as the American brand journeys towards a 100 percent electric line-up of passenger and commercial vehicles in Europe by 2035,&rdquo;&nbsp;as noted in a <a href="https://ir.allego.eu/events-publications/press-releases/detail/75/ford-and-allego-partner-to-electrify-european-dealership">company press release.</a></p>



<p>ALLG also teamed up with&nbsp;Burger King France&nbsp;to roll out ultra-fast chargers across drive-through and dine-in locations that are not co-ownership over the next three years.</p>



<p><em>On the date of publication, Ian Cooper did not hold (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.</em></p>
<div><p>Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.</p></div><h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2023/10/no-1-ai-investment-might-be-this-company-youve-never-heard-of/?cid=MKT764787&amp;eid=MKT771245">The #1 AI Investment Might Be This Company You&rsquo;ve Never Heard Of</a>
					</li>
																<li>
						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT771236">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
					</li>
																<li>
						<a href="https://investorplace.com/2021/01/one-percenter-issues-urgent-warning/?cid=MKT499868&amp;eid=MKT793997">It doesn&rsquo;t matter if you have $500 or $5 million. Do this now.</a>
					</li>
									</ul><div>
			<div></div>
						<div></div>
					</div>
	
<p>The post <a href="https://investorplace.com/2024/04/wall-street-favorites-3-ev-charging-stocks-with-strong-buy-ratings-for-april-2024/">Wall Street Favorites: 3 EV Charging Stocks With Strong Buy Ratings for April 2024 </a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

Wall Street Favorites: 3 EV Charging Stocks With Strong Buy Ratings for April 2024

RBC Capital analyst Chris Dendrinos maintained a Buy rating on EVgo (EVGO – Research Report) on April 10 and set a price target of $4.00. The compa...

RBC Capital Remains a Buy on EVgo (EVGO)

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>EV charging stocks to buy now haven&rsquo;t been too attractive lately. But don&rsquo;t write them off just yet.</p>



<p>Not helping, electric vehicle sales slowed in the first quarter of the year. According to Kelley Blue Book, <a href="https://www.kltv.com/2024/04/17/electric-vehicle-sales-have-slowed-down-first-3-months-2024/?outputType=amp">about 270,000 EVs were sold in the quarter</a>. That was up about 2.6% year over year. However, that&rsquo;s down about 7.5% quarter over quarter. Unfortunately, in the months ahead, sales will continue to be weak.&nbsp;</p>



<p>All thanks to high prices, high-interest rates, and a severe lack of charging stations across the U.S. As noted by the <a href="https://www.autoblog.com/2024/04/03/u-s-first-quarter-auto-sales-grew-5-despite-high-interest-rates-but-ev-growth-slows-further/">Associated Press</a>, &ldquo;Electric vehicle sales growth slowed during the first three months of the year, with mainstream buyers wary of limited range and a&nbsp;lack of charging stations.&rdquo;</p>



<p>We constantly hear that billions have been invested in EV charging infrastructure.&nbsp;&nbsp;McKinsey has noted we&rsquo;ll need <a href="https://www.mckinsey.com/features/mckinsey-center-for-future-mobility/our-insights/can-public-ev-fast-charging-stations-be-profitable-in-the-united-states">28 million charging ports</a> by 2030. <a href="https://www.pwc.com/us/en/industries/industrial-products/library/electric-vehicle-charging-market-growth.html">PwC noted that</a> &ldquo;The accelerated expansion of the charging infrastructure will be needed to serve the needs of a new generation of EV owners.&rdquo;&nbsp;&nbsp;Still, there&rsquo;s a severe shortage of charging stations, which won&rsquo;t convince on-the-fence EV buyers to buy.&nbsp;&nbsp;</p>



<p>If the U.S. is serious about reaching its net-zero goals, it needs to get moving on charging infrastructure. Knowing that it has to happen, I&rsquo;d use weakness in EV charging stocks to buy as an opportunity with:</p>



<h2><strong>Blink Charging (<strong>BLNK</strong>)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/04/blnk-stock-300x169.jpg" alt="a blink charging station, BLNK stock"><div>Source: David Tonelson/Shutterstock.com</div></div><p>Over the last few weeks, <strong>Blink Charging</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/blnk-stock-quote/"><strong>BLNK</strong></a>) jumped from about $2.35 to a high of $3.14. Since then, it pulled back to strong support dating back to November. Better, each time it falls to this support line at around $2.35, it tends to bounce back shortly after. If you pull up a one-year chart of BLNK, you can see it&rsquo;s happened about four times since late last year.</p>



<p>Earnings have been okay. In its fourth quarter, the company&rsquo;s earnings per share loss of 28 cents missed by two cents. However, revenue of $42.71 million &ndash; up nearly 89% year over year &ndash; beat by $8.65 million. For full-year 2024, the company forecast revenue to fall in a range of $165 million to $175 million. It also believes it can achieve positive adjusted EBITDA.</p>



<p>In addition, &ldquo;The market has constantly been told that EV charging station demand is off the charts with the need for millions of new chargers. Yet, Blink Charging and other EV charging station companies outside of Tesla Super Chargers regularly struggle to generate material revenues on services and software that include fees for customers using the chargers,&rdquo; <a href="https://seekingalpha.com/article/4679443-blink-charging-disappointing-outlook">as noted by Seeking Alpha</a>.</p>



<h2><strong>EVgo (<strong>EVGO</strong>)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/04/evgo-clii-stock-300x169.jpg" alt="EVgo fast charging station"><div>Source: Sundry Photography / Shutterstock.com</div></div><p><strong>EVgo</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/evgo-stock-quote/"><strong>EVGO</strong></a>) has been a recent disaster, too.</p>



<p>However, after pulling back to $1.80, it appears to have caught triple-bottom support dating back to November. And just as we&rsquo;ve seen with BLNK, EVGO tends to bounce off this support line. If you pull up a one-year chart, you can see it.&nbsp;</p>



<p>Helping, analysts at RBC Capital upgraded the stock to an outperform rating from sector perform, with a target of $4.&nbsp;&ldquo;The automotive industry is moving toward electrification, and we believe EVgo is well positioned to benefit from this secular trend,&rdquo;&nbsp;<a href="https://www.streetinsider.com/Analyst+PT+Change/RBC+Capital+Upgrades+EVgo%2C+Inc.+%28EVGO%29+to+Outperform/22896661.html?classic=1">RBC Capital added</a>.</p>



<p>Recent earnings have been so-so. It posted a loss of 12 cents in its recent quarter, which was up from a six-cent loss year over year. However, sales of $50 million did beat by $5.69 million. And while the company expects to be EBITDA-positive by next year, that really depends on improvements in the EV charging market and EV sales.</p>



<h2><strong>Beam Global (<strong>BEEM</strong>)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/05/electric-vehicle-ev-stocks-wind-charging-1600-300x169.jpg" alt="Photo of steel blue electric car being charged with wind silos and blue sky in the background. EV"><div>Source: shutterstock.com/Alexander Steamaze</div></div><p>While <strong>Beam Global</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/beem-stock-quote/"><strong>BEEM</strong></a>) slipped from about $7.25 to a low of $5.25, it is showing signs of life again. Since bottoming out, it&rsquo;s now back to $6.20 and accelerating. All after the company&rsquo;s fourth quarter revenues hit a record high of $20 million, which was up 153.2% year over year, and beat expectations by $1.76. million. And while its net loss came in at $5.1 million, it was a 74% year-over-year improvement.&nbsp;</p>



<p>Even better, BEEM is quickly expanding in Europe and was just awarded&nbsp;a U.S. patent for wireless EV charging. &ldquo;With this new patented technology, a driver will have the ability to fuel a vehicle by doing no more than parking on the EV ARC,&rdquo;&nbsp;<a href="https://beamforall.com/beam-global-granted-u-s-patent-for-wireless-inductive-electric-vehicle-charging-powered-by-renewable-energy/">said&nbsp;Desmond Wheatley</a>, CEO of Beam Global.&nbsp;&ldquo;We believe that increasing numbers of EVs will be equipped with wireless charging receivers and fleet operators and public charging operators will seek efficient methods to deploy the transmitters without having to perform permitted construction and electrical work.&rdquo;</p>



<p><em>On the date of publication, Ian Cooper did not hold (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.</em></p>
<div><p>Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.</p></div><h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2023/10/no-1-ai-investment-might-be-this-company-youve-never-heard-of/?cid=MKT764787&amp;eid=MKT771245">The #1 AI Investment Might Be This Company You&rsquo;ve Never Heard Of</a>
					</li>
																<li>
						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT771236">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
					</li>
																<li>
						<a href="https://investorplace.com/2021/01/one-percenter-issues-urgent-warning/?cid=MKT499868&amp;eid=MKT793997">It doesn&rsquo;t matter if you have $500 or $5 million. Do this now.</a>
					</li>
									</ul><div>
			<div></div>
						<div></div>
					</div>
	
<p>The post <a href="https://investorplace.com/2024/04/3-ev-charging-stocks-to-buy-now-q2-edition/">3 EV Charging Stocks to Buy Now: Q2 Edition</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

3 EV Charging Stocks to Buy Now: Q2 Edition

Penny stocks are among the most popular assets among day traders because of their substantially lower prices compared to big companies. Here are some penny stocks to buy for short-term gains.

5 U.S. Penny Stocks To Buy Now For Short-Term Gains

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>Investing in electric vehicle (<strong>EV</strong>) stocks has become a standout trend of the decade. However, it comes with inherent volatility. </p>



<p>As of 2024, global EV demand shows signs of weakening. Despite this, the future of the sector is generally viewed with optimism. Yet, it&rsquo;s crucial for investors to recognize that not all EV companies may withstand the challenges ahead.</p>



<p>The past decade has seen a surge in the number of EV startups. Many still aren&rsquo;t profitable and may further struggle to ever achieve profitability. The auto industry is notorious for its fierce competition and high capital demands.</p>



<p>Given these factors, it&rsquo;s essential for investors to be selective when investing in <a href="https://investorplace.com/industries/consumer-discretionary/automotive/electric-vehicles/">EV stocks</a>. With EVs increasingly capturing market share, strategically adding EV stocks to your portfolio could be wise for long-term growth.</p>



<p>Here are my top three picks for potentially high-return EV stocks to consider now!</p>



<h2>Tesla (TSLA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/04/tsla1600-12-300x169.png" alt="Tesla (TSLA) sign on the building on car sales"><div>Source: Vitaliy Karimov / Shutterstock.com</div></div><p>Experiencing a notable decline this year, <strong>Tesla</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/tsla-stock-quote/"><strong>TSLA</strong></a></span>) stock has dropped nearly 40% year-to-date (<strong>YTD</strong>). The company faced challenges such as EV demand slowdown and pricing pressures, which have impacted its profit margins. Nevertheless, Tesla remains robustly positioned for future growth due to its expansive market reach and strong competitive edge.</p>



<p>Also, the company is seeing significant advancements in its energy storage segment. A 90% year-over-year (<strong>YOY</strong>) increase in energy deployments are reported in its Q3 2023 financials. Tesla <a href="https://electrek.co/2023/10/18/tesla-deployed-record-energy-storage-solar-hurting/">is planning to expand its capacity</a> to 40 GWh at its megafactory in Lathrop, California.&nbsp;</p>



<p>Further, TSLA is one of those underrated picks for investors to consider due to valuation dropping dramatically, giving it multibagger potential. Currently, it trades at around 34 times earnings, which is substantially lower than its 5-year average.</p>



<h2>EVgo (EVGO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/04/evgo-clii-stock-300x169.jpg" alt="EVgo fast charging station"><div>Source: Sundry Photography / Shutterstock.com</div></div><p>Operating a robust network of fast EV charging stations, <strong>EVgo</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/evgo-stock-quote/"><strong>EVGO</strong></a>) has over <a href="https://www.evgo.com/">850 locations across the U.S</a>.. It serves more than 500,000 customers. It&rsquo;s estimated that 42% of Americans live within 10 miles of an EVgo charger. The company has ambitious plans to triple its size within the next five years.</p>



<p>Despite some analysts&rsquo; mixed views on EVgo&rsquo;s future, many investors and analysts are optimistic about its role in the expanding market for EV charging solutions. This optimism is driven by the increasing EV adoption and the implementation of eco-friendly government policies.</p>



<p>With a 59.24% predicted increase for its revenue in 2024, this also comes with a substantial predicted bottom-line expansion. Profitability for EVGO is expected some time around FY2028. And with it trading at such low multiples, it&rsquo;s one of those EV stocks that could have multibagger potential.</p>



<h2><strong>BYD Company Limited</strong> (BYDDF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/09/byddf-stock-1-300x169.jpg" alt="A close-up view of the power supply plugged into a vehicle from BYD Company (BYDDY)."><div>Source: J. Lekavicius / Shutterstock.com</div></div><p><strong>BYD Company Limited</strong> (OTCMKTS:<span><a href="https://investorplace.com/stock-quotes/byddf-stock-quote/"><strong>BYDDF</strong></a></span>) has significantly impacted the Chinese EV market, making notable strides on the global stage. It is positioning itself as an attractive investment option, especially for those interested in the <a href="https://electrek.co/2023/12/01/byd-surpasses-nissan-amid-record-nov-sales-ev-share-rises/">emerging markets like China</a>. In November 2023, BYD Company Limited set a new record by selling over 170,000 EVs. This achievement is a notable increase from the previous month and surpasses competitors like Nissan in monthly sales figures.&#8203;</p>



<p>One of the <a href="https://electrek.co/2024/01/02/chinas-byd-tops-1-6-million-bev-sales-in-2023/">standout achievements</a> of BYDDF is its global delivery of around 70,000 buses. This contributes significantly to reducing CO2 emissions worldwide. In Europe alone, these buses have helped save approximately 150,000 tons of CO2 emissions.</p>



<p>Most of BYDDF&rsquo;s vehicles are produced in China and then sold domestically within China. This gives the company a competitive edge, as Chinese lawmakers try to ramp up domestic production and consumption of Chinese goods. It&rsquo;s an unmatched advantage that can&rsquo;t easily be replicated, providing a robust competitive moat.</p>



<p><em>On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.</em></p>
<div><p>Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.</p></div><h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2023/10/no-1-ai-investment-might-be-this-company-youve-never-heard-of/?cid=MKT764787&amp;eid=MKT771245">The #1 AI Investment Might Be This Company You&rsquo;ve Never Heard Of</a>
					</li>
																<li>
						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT771236">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
					</li>
																<li>
						<a href="https://investorplace.com/2021/01/one-percenter-issues-urgent-warning/?cid=MKT499868&amp;eid=MKT793997">It doesn&rsquo;t matter if you have $500 or $5 million. Do this now.</a>
					</li>
									</ul><div>
			<div></div>
						<div></div>
					</div>
	
<p>The post <a href="https://investorplace.com/2024/04/3-ev-stocks-that-could-be-multibaggers-in-the-making-april-edition/">3 EV Stocks That Could Be Multibaggers in the Making: April Edition</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

3 EV Stocks That Could Be Multibaggers in the Making: April Edition

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>Electric vehicle (<span>EV</span>) charging stocks are rising as federal legislation promotes the construction and standardization of U.S. EV charging infrastructure.</p>



<p>The Bipartisan Infrastructure Law proposes a <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2023/02/15/fact-sheet-biden-harris-administration-announces-new-standards-and-major-progress-for-a-made-in-america-national-network-of-electric-vehicle-chargers/">$7.5 billion national EV charging network</a> to promote electric cars. By 2030, the bill aims for 500,000 public chargers and a reliable network.</p>



<p>To promote EVs and infrastructure, <a href="https://www.whitehouse.gov/cleanenergy/inflation-reduction-act-guidebook/">the Inflation Reduction Act</a> extended and modified tax advantages. The tax break on new and secondhand electric automobiles and charging equipment lasts until 2032.</p>



<p>In addition, New York and other states are leveraging federal subsidies to develop municipal EV charging networks for transportation and environmental initiatives. Brooklyn currently has a <a href="https://ny1.com/nyc/all-boroughs/transit/2023/04/11/revel-opens-new-electric-vehicle-charging-superhub-in-brooklyn">&ldquo;superhub&rdquo; charging station</a> for 15 autos.</p>



<p>Let&rsquo;s look at three &ldquo;moderate buy&rdquo; EV charging stocks with double-digit potential ahead of the U.S. elections.</p>



<p>One major participant wants a positive adjusted EBITDA run rate by December 2024. Despite supply chain issues, another industry leader is reporting record sales. And in the face of losses, a third major rival is aggressively expanding its EV charging network to meet demand.</p>



<h2>EV Charging Stocks: ChargePoint Holdings (CHPT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/10/chargepoint-sbe-1600-300x169.jpg" alt="CHPT a chargepoint charging station"><div>Source: Michael Vi / Shutterstock.com</div></div><p><strong>ChargePoint Holdings</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/chpt-stock-quote/"><strong>CHPT</strong></a>) is coming off a stellar 2023, reporting its largest-ever sequential revenue growth despite supply chain issues. </p>



<p>The EV charging play aims to decrease non-GAAP adjusted EBITDA loss by <a href="https://www.sec.gov/Archives/edgar/data/1777393/000177739323000016/chargepointearningsrelease.htm">two-thirds</a> by Q4 2024. ChargePoint is building up a sizable war fund, having just <a href="https://www.cnbc.com/2023/10/11/chargepoint-raising-232-million.html">raised $232 million</a>, via a mix of $175 million worth of fresh stock and changes to existing convertible notes. CHPT nets $57 million to make a push at positive non-GAAP adjusted EBITDA by Q4 FY 2024.</p>



<p>Overall, ChargePoint has solid liquidity, <a href="https://investors.chargepoint.com/news/news-details/2024/ChargePoint-Announces-Reorganization-to-Position-Itself-for-Long-Term-Sustainable-Growth/default.aspx#:~:text=As%20previously%20announced%2C%20ChargePoint%20maintains,through%20a%20revolving%20credit%20facility%2C">with $397 million in cash and equivalents</a> and $150 million in unused revolving credit. With these resources, ChargePoint maintains operational and strategic flexibility. </p>



<p>In addition, <a href="https://www.chargepoint.com/about/news/chargepoint-announces-reorganization-position-itself-long-term-sustainable-growth">ChargePoint reorganized and cut 12%</a> of its worldwide staff in January 2024. This approach should simplify processes and save $33 million yearly. The new CEO, <a href="https://www.chargepoint.com/profile/rick-wilmer#:~:text=Rick%20Wilmer%20is%20President%20and,of%20the%20Board%20of%20Directors.">Rick Wilmer</a>, wants to concentrate on operational excellence and efficiency. Therefore, this development is part of that strategy.</p>



<p>Recent capital raising and strategic restructuring expanded ChargePoint&rsquo;s EV infrastructure market position; all of this is evident in analysts&rsquo; estimates, which project a <a href="https://www.tipranks.com/stocks/chpt/forecast">148% upside</a> with a target price of $3.38 per share.</p>



<h2>Blink Charging (BLNK)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/04/blnk-stock-300x169.jpg" alt="a blink charging station, BLNK stock"><div>Source: David Tonelson/Shutterstock.com</div></div><p>In 2023, <strong>Blink Charging</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/blnk-stock-quote/"><strong>BLNK</strong></a>) <a href="https://www.globenewswire.com/en/news-release/2024/03/14/2846677/0/en/BLINK-CHARGING-ANNOUNCES-RECORD-FOURTH-QUARTER-WITH-89-REVENUE-GROWTH-TO-42-7-MILLION-AND-130-INCREASE-IN-FULL-YEAR-2023-REVENUES-TO-140-6-MILLION.html#:~:text=Total%20Revenues%20increased%2089%25%20to,the%20full%20year%20of%202022.">announced record sales</a> of $140 million for the whole year and $42 million for the fourth quarter. Sales increased 88% in Q4 and outpaced revenue estimates by 23%. By December 2024, BLNK wants to have positive adjusted EBITDA.</p>



<p>Despite higher sales, <a href="https://www.expressnews.com/business/article/blink-charging-q4-earnings-snapshot-19027811.php">Blink lost $19.7 million</a> in the fourth quarter and $203.7 million in 2023. Losses were incurred by non-cash goodwill, one-time payments, and intangible asset impairment. Even though adjusted EBITDA was negative by $57 million, it was still better than the $60 million loss in the prior year.</p>



<p>Notwithstanding the obstacle, BLNK is <a href="https://blinkcharging.com/news#:~:text=Teaming%20up%20with%20Grupo%20Q,and%20Playa%20La%20Libertad%20regions.">working</a> on EV charging solutions in collaboration with <strong>Grupo Q</strong> in El Salvador; Frederick, Maryland; <a href="https://blinkcharging.com/news#:~:text=Blink%20Charging%20and%20Allegiant%20Stadium,Charging%20for%20Fans%20and%20Visitors&amp;text=Allegiant%20Stadium%20will%20be%20outfitted,visitors%2C%20and%20the%20general%20public.">Allegiant Stadium in Las Vegas</a>; and McArthurGlen designer stores in the Netherlands.</p>



<p>To compete, Blink is also enhancing its EV charging equipment. At EVS36, Blink <a href="https://blinkcharging.com/news/blink-charging-announces-final-design-and-development-of-new-ev-dc-fast-charger-with-dual-port-ccs-and-nacs-connectors-at-evs36">debuted</a> a dual-port combined charging system (<span>CCS</span>) and North American Charging Standard (<span>NACS</span>) EV DC Fast Charger to enhance user efficiency and experience worldwide. Better charging methods will make consumers happy.</p>



<p>Finally, in an effort to strengthen its European brand, Blink <a href="https://www.blinkcharging.be/en/elektrischrijden_faq/why-did-blink-acquire-blue-corner/">rebranded and integrated</a> Blue Corner, a subsidiary of Blink, into Blink Charging. </p>



<p>As it moves toward profitability at the end of 2024, the stock has a substantial upside <a href="https://www.tipranks.com/stocks/blnk/forecast">potential of 240%</a>. Its current price of $2.30 per share and the average price target projected at $7.83 per share, BLNK is part of an elite group among EV charging stocks. </p>



<p></p>



<h2>EV Charging Stocks: EVgo (EVGO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/04/evgo-clii-stock-300x169.jpg" alt="EVgo fast charging station"><div>Source: Sundry Photography / Shutterstock.com</div></div><p>At $161 million, <strong>EVgo </strong>(NASDAQ:<span><a href="https://investorplace.com/stock-quotes/evgo-stock-quote/"><strong>EVGO</strong></a></span>) sales rose 195% from around $55 million in 2022. Fourth-quarter sales were $50 million, up 83% year-over-year. EVgo outperformed the market with a 72% higher earnings per share (<span>EPS</span>).</p>



<p>EVgo extended its network to include approximately 3,500 stalls by the end of 2023, with notable augmentations made possible by the <a href="https://www.evgo.com/charging-solutions/business-and-commercial/evgo-extend/">EVgo eXtend initiative</a>, which aims to provide more DC fast charging alternatives.</p>



<p>However, EVgo lost $135.5 million despite increased sales. At the same time, EVGO also announced $158.9 million in charging network expansion capital spending. Management knows this and President Dennis Kish was chosen to enhance efficiency and profits. Technology, marketing and corporate growth will be integrated.</p>



<p>Utilization rates on the EVgo network increased significantly, rising from 15% in September to over 19% in December 2023. During the year, the network throughput was <a href="https://investors.evgo.com/news/news-details/2024/EVgo-Inc.-Reports-Fourth-Quarter-and-Full-Year-2023-Results/default.aspx">around 130 gigawatt-hours</a> (GWh).</p>



<p>Moreover, following statements from <strong>Tesla</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/tsla-stock-quote/"><strong>TSLA</strong></a></span>), <strong>GM</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/gm-stock-quote/"><strong>GM</strong></a></span>), and <strong>Ford Motor</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/f-stock-quote/"><strong>F</strong></a></span>), EVgo <a href="https://www.reuters.com/technology/gm-ceo-discuss-future-ev-charging-with-musk-twitter-2023-06-08/">intends to include</a> NACS connections in select chargers and as a standard in future deployments.&#8203;</p>



<p>Also, Autocharge+ is <a href="https://www.intersolar.us/industry-news/evgos-autocharge-feature-can-now-accommodate-over-50-ev-models/#:~:text=Autocharge%2B%20allows%20drivers%20to%20skip,%2C%20including%20GM%2Dbrand%20EVs.">currently on over 50</a> EVgo vehicles. This makes charging quicker and simpler without an app or card at the service station.</p>



<p>Evgo wraps up this discussion on EV charging stocks, showing <a href="https://www.tipranks.com/stocks/evgo/forecast">plenty of potential</a> with its expansionary efforts and a potential upside of almost 200%.</p>



<p><em>On the date of publication, Faizan Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;</em><a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"><em>Publishing Guidelines</em></a><em>.</em></p>
<div><p>Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&amp;P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio.</p></div><h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2023/10/no-1-ai-investment-might-be-this-company-youve-never-heard-of/?cid=MKT764787&amp;eid=MKT771245">The #1 AI Investment Might Be This Company You&rsquo;ve Never Heard Of</a>
					</li>
																<li>
						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT771236">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
					</li>
																<li>
						<a href="https://investorplace.com/2021/01/one-percenter-issues-urgent-warning/?cid=MKT499868&amp;eid=MKT793997">It doesn&rsquo;t matter if you have $500 or $5 million. Do this now.</a>
					</li>
									</ul><div>
			<div></div>
						<div></div>
					</div>
	
<p>The post <a href="https://investorplace.com/2024/04/3-ev-charging-stocks-that-could-be-multibaggers-in-the-making-april-edition/">3 EV Charging Stocks That Could Be Multibaggers in the Making: April Edition</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

3 EV Charging Stocks That Could Be Multibaggers in the Making: April Edition

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>As the electric vehicle (<span>EV</span>) market continues to expand, savvy investors are looking for top EV charging stocks to buy. The rising adoption of electric vehicles is pushing governments to improve charging infrastructure, which directly benefits companies in this sector.</p>



<p>According to <a href="https://www.precedenceresearch.com/electric-vehicle-charging-station-market">Precedence Research</a>, the global electric vehicle charging station market, valued at $34.5 billion in 2023, is expected to grow to over $344 billion by 2032. This expansion is driven by both the increase in EV sales and technological advancements in charging solutions. As per PwC, to meet the needs of an estimated 27 million EVs by 2030, the number of charge points in the U.S. will need to <a href="https://www.pwc.com/us/en/industries/industrial-products/library/electric-vehicle-charging-market-growth.html">increase</a> from 4 million today to 35 million.</p>



<p>With these trends in mind, here are three top EV-charging stocks that investors might consider adding to their portfolios in April 2024. Each of these companies is poised to benefit from the ongoing expansion in EV infrastructure and the broader shift towards sustainable transportation solutions.</p>



<h2>Beam Global (BEEM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/stock-market-ticker-lights-300x169.jpg" alt="top stock trades. stocks analysts love"><div>Source: Shutterstock</div></div><p><strong>Beam Global</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/beem-stock-quote/"><strong>BEEM</strong></a>) is a pioneering company specializing in sustainable energy solutions. The company specifically focuses on electric vehicle charging infrastructure. BEEM has carved out a niche in the EV charging market with its flagship product, the EV ARC 2020. This solar-powered charging station is compatible with major brands like ChargePoint and Blink.</p>



<p>Recent strategic acquisitions have positioned Beam to accelerate its international presence and deepen its technological edge. The <a href="https://beamforall.com/u-s-based-beam-global-acquired-serbian-based-amiga-doo/">acquisition</a> of Amiga, a Serbian streetlamp company, in October 2023, is a perfect example. The move not only expands Beam&rsquo;s footprint in Europe but also diversifies its product range into streetlamp-integrated charging solutions.</p>



<p>The company has continued to post strong financial results. Recently, BEEM <a href="https://seekingalpha.com/article/4684825-beam-global-beem-q4-2023-earnings-call-transcript">reported</a> record revenues for both the fourth quarter and the full year of 2023. Q4 revenue reached $20 million, marking a 154% increase over the same period in the previous year. Annual revenue for 2023 was $67.4 million, more than tripling from $22 million in 2022. The substantial increase in revenue is primarily due to significant orders from federal, state, and local government customers.</p>



<h2>Blink Charging (BLNK)</h2>



<div><img width="298" height="224" src="https://investorplace.com/wp-content/uploads/2021/04/electric-vehicle-298x224-1.jpg" alt="an electric vehicle (EV) at a charging station representing EV stocks"><div>Source: Alexandru Nika / Shutterstock.com</div></div><p><strong>Blink Charging</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/blnk-stock-quote/"><strong>BLNK</strong></a>) is involved in manufacturing and operating charging stations and selling EV charging equipment. Blink&rsquo;s business model, which combines equipment sales with high-margin service operations, positions it uniquely against competitors like ChargePoint and EVgo. The company offers a balanced exposure to the capital-intensive nature of hardware and the recurring revenue of service operations.</p>



<p>Blink Charging <a href="https://seekingalpha.com/article/4678353-blink-charging-co-blnk-q4-2023-earnings-call-transcript">reported</a> a successful Q4 for 2023, marked by substantial revenue growth and improved operational efficiency. The company reported a fourth-quarter revenue of $42.71 million, up by nearly 89% YoY. In the future, Blink anticipates continued revenue growth and targets a gross margin of around 33% for 2024.</p>



<p>Needham analyst Chris Pierce <a href="https://www.streetinsider.com/dr/news.php?id=22935734">reaffirmed</a> a Buy rating on the company&rsquo;s stock after the announcement of the Q4 result.</p>




<p>We see BLNK as well positioned to continue to beat and raise (4Q was BLNK&rsquo;s third consecutive revenue beat) on initial conservative revenue guidance in conjunction with BLNK&rsquo;s industry leading gross margin profile and further OPEX leverage on deck. BLNK reiterated guidance for positive adj EBITDA exiting 4Q24, and now aims to get there without any further dilution after leaning on their ATM facility in late &rsquo;23/early &rsquo;24, removing a potential equity offering as an overhang on the stock. Our $7 price target represents 15x our &rsquo;24 adj EBITDA discounted back.</p>




<h2>EVgo (EVGO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/04/evgo-clii-stock-300x169.jpg" alt="EVgo fast charging station"><div>Source: Sundry Photography / Shutterstock.com</div></div><p><strong>EVgo</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/evgo-stock-quote/"><strong>EVGO</strong></a>) is a prominent name in the U.S. EV charging sector. The company has over 950 fast-charging <a href="https://www.evgo.com/company/">locations</a> in the United States. Despite the overall market downturn for <a href="https://investorplace.com/industries/consumer-discretionary/automotive/electric-vehicles/">EV stocks</a>, EVgo continues to secure strategic partnerships with major automotive <a href="https://www.theverge.com/2023/12/5/23988171/gm-ev-charging-station-progress-pilot-evgo">manufacturers</a> Toyota, and Honda.</p>



<p>The company <a href="https://seekingalpha.com/article/4676398-evgo-inc-evgo-q4-2023-earnings-call-transcript">reported</a> its Q4 2023 earnings with a revenue of $49.99 million, marking an 83.11% year-over-year (YoY) increase and surpassing market expectations by $5.68 million. The CFO during the earnings call detailed the company&rsquo;s financial discipline, which has been crucial in managing costs and driving margin improvements, positioning EVgo closer to achieving EBITDA breakeven by 2025.</p>



<p>The sharp decline in EVgo&rsquo;s stock price to near all-time lows suggests the market might be overlooking its strategic positioning and expansion potential. However, analysts are still&nbsp;<a href="https://finance.yahoo.com/quote/EVGO/">bullish&nbsp;</a>and have an average price target of $6.2 on the stock. This presents a potential 257% upside in the near-term.</p>



<p><em><em>On the date of publication, Mohammed Saqib did not hold (either directly or indirectly) any positions in the securities mentioned in this article.</em>&nbsp;<em>The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;</em><a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"><em>Publishing Guidelines</em></a><em>.</em></em></p>
<div><p>Mohammed Saqib is a research analyst with experience in equity research and financial modeling. He has extensively covered stocks listed in the tech sector using fundamental analysis as the cornerstone of his approach. Currently pursuing a master&rsquo;s degree in finance, Saqib is dedicated to obtaining the CFA charter to augment his expertise in the field further.</p></div><h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2023/10/no-1-ai-investment-might-be-this-company-youve-never-heard-of/?cid=MKT764787&amp;eid=MKT771245">The #1 AI Investment Might Be This Company You&rsquo;ve Never Heard Of</a>
					</li>
																<li>
						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT771236">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
					</li>
																<li>
						<a href="https://investorplace.com/2021/01/one-percenter-issues-urgent-warning/?cid=MKT499868&amp;eid=MKT793997">It doesn&rsquo;t matter if you have $500 or $5 million. Do this now.</a>
					</li>
									</ul><div>
			<div></div>
						<div></div>
					</div>
	
<p>The post <a href="https://investorplace.com/2024/04/the-top-3-ev-charging-stocks-to-buy-in-april-2024/">The Top 3 EV Charging Stocks to Buy in April 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

The Top 3 EV Charging Stocks to Buy in April 2024

ADIL

ALLG

BEEM

BYDDF

GPRO

NYCB

SOUN

Press Releases

EVgo Announces Awardees of Second Annual National EV Charging Recognition Program, presented by Connect the Watts™

EVgo to Report Fourth Quarter and Full Year 2023 Results on March 6, 2024

EVgo Inc. Reports Fourth Quarter and Full Year 2023 Results

Opinion

Thinking about buying stock in Senseonics Holdings, Ainos, Marpai, Rush Street Interactive, or Evgo?

EVgo Opens First Public Fast Charging Site with Innovative Prefabrication Approach

Commodities

Real Estate

SLB Capital Advisors Advises on Sale Leasebacks For Leading EV Fast Charging Solutions Provider EVgo

EVgo to Host Financial Modeling Webinar on April 4, 2024

EVgo Welcomes Scott Griffith to Board of Directors

EVgo Expands Autocharge+ to More Than 50 Electric Vehicle Models

EVgo to Report First Quarter 2024 Results on May 7, 2024

AIMD

MRAI

SENS

Advance Auto Parts

Asbury Automotive Gr

AutoNation

ARKO

AutoZone

Cango Inc. American Depositary Shares, each representing two (2) Class A Ordinary Shares