5 Best EV Charging Stocks to Buy Now

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In this article, we discuss the 5 best EV charging stocks to buy now. If you want to read our detailed analysis of these stocks, go directly to 10 Best EV Charging Stocks to Buy Now.

5. EVgo, Inc. (NASDAQ:EVGO)

Number of Hedge Fund Holders: 19

EVgo, Inc. (NASDAQ:EVGO) owns over 800 EV fast-charging stations across 34 states, making it the largest public EV charging network in the US. The company’s direct current fast chargers are compatible with all Tesla, Inc., Ford, BMW, Hyundai, and Chevrolet electric vehicles.

The California-based EV charging company added over 36,000 customers in the third quarter, bringing the total number of customer accounts to 310,000. The company’s revenue climbed 73% year over year to $6.18 million in the period. Also, on November 23, Capital One analyst Richard Tullis initiated an Equal Weight rating on EVgo, Inc. (NASDAQ:EVGO) with a price target of $18 per share.

EVgo, Inc. (NASDAQ:EVGO) recently went public with a valuation of $2.6 billion in July via SPAC. The stock returned 38% to investors year to date. Of the 867 elite funds tracked by Insider Monkey, 19 were long EVgo, Inc. (NASDAQ:EVGO) at the end of September, up from 0 in the second quarter of 2021.

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