Latest news with #EVgo
Yahoo
a day ago
- Automotive
- Yahoo
NC congressional delegation should support state's electric vehicle industry
An EVgo fast charging station charges a vehicle. (Photo: Loren Elliott for CalMatters) North Carolina's economy has undergone many important transitions over the last several decades. But in recent years there's been no more promising arrival on the scene than the electric vehicle industry. As experts at the national Electrification Coalition pointed out last week, federal EV tax credits have helped spur the creation of more than sixteen thousand jobs and over twenty billion dollars in investments in the state in recent years. And, of course, these are jobs and investments that are not only good for the state's economy, but for the world as it struggles to end its heroin-like addiction to fossil fuels. Unfortunately, the massive budget and tax bill approved by the U.S. House last week places all of this in jeopardy by eliminating several tax credits supporting the industry. The bottom line: Our nation currently spends hundreds of billions of dollars each year subsidizing the fossil fuel industry. The least North Carolina's congressional delegation can do is help to retain some modest subsidies for an industry of the future that helps our people and our planet. For NC Newsline, I'm Rob Schofield.
Business Insider
2 days ago
- Automotive
- Business Insider
EVgo initiated with an Equal Weight at Morgan Stanley
Morgan Stanley analyst Andrew Percoco initiated coverage of EVgo (EVGO) with an Equal Weight rating and $4 price target The company is a 'pure-play' EV charging name positioned well in a growing EV market, while its partnerships with OEMs, site hosts and fleet operators, and low-cost financing should enable it to generate strong earnings growth, the analyst tells investors in a research note. The firm adds however that policy risk, competitive pressures, and valuation keep Morgan Stanley on the sidelines. Confident Investing Starts Here:
Yahoo
5 days ago
- Business
- Yahoo
1 Cash-Heavy Stock with Exciting Potential and 2 to Avoid
A cash-heavy balance sheet is often a sign of strength, but not always. Some companies avoid debt because they have weak business models, limited expansion opportunities, or inconsistent cash flow. Not all businesses with cash are winners, and that's why we built StockStory - to help you separate the good from the bad. That said, here is one company with a net cash position that balances growth with stability and two with hidden risks. Net Cash Position: $80.24 million (15.2% of Market Cap) Created through a settlement between NRG Energy and the California Public Utilities Commission, EVgo (NASDAQ:EVGO) is a provider of electric vehicle charging solutions, operating fast charging stations across the United States. Why Does EVGO Worry Us? Historically negative EPS raises concerns for risk-averse investors and makes its earnings potential harder to gauge Cash-burning history makes us doubt the long-term viability of its business model Depletion of cash reserves could lead to a fundraising event that triggers shareholder dilution EVgo is trading at $3.95 per share, or 33.4x forward EV-to-EBITDA. Check out our free in-depth research report to learn more about why EVGO doesn't pass our bar. Net Cash Position: $385.6 million (10.9% of Market Cap) With clients including 97% of the S&P 100 and operations in 103 offices across 51 countries, Korn Ferry (NYSE:KFY) is a global consulting firm that helps organizations design optimal structures, recruit talent, develop leaders, and create effective compensation strategies. Why Do We Think KFY Will Underperform? Sales tumbled by 2% annually over the last two years, showing market trends are working against its favor during this cycle Demand will likely be soft over the next 12 months as Wall Street's estimates imply tepid growth of 1.4% Earnings per share decreased by more than its revenue over the last two years, showing each sale was less profitable At $68.29 per share, Korn Ferry trades at 13.3x forward P/E. Dive into our free research report to see why there are better opportunities than KFY. Net Cash Position: $744,000 (0.1% of Market Cap) Established in 1901, Limbach (NASDAQ: LMB) provides integrated building systems solutions, including mechanical, electrical, and plumbing services. Why Is LMB on Our Radar? Operating margin expansion of 5.3 percentage points over the last five years shows the company optimized its expenses Incremental sales over the last two years have been highly profitable as its earnings per share increased by 53.3% annually, topping its revenue gains Industry-leading 22.9% return on capital demonstrates management's skill in finding high-return investments, and its rising returns show it's making even more lucrative bets Limbach's stock price of $127.50 implies a valuation ratio of 30.7x forward P/E. Is now a good time to buy? See for yourself in our in-depth research report, it's free. Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 5 Growth Stocks for this month. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today for free.
Yahoo
27-05-2025
- Automotive
- Yahoo
Advocates say US House budget cuts will harm NC's electric vehicle industry
An EVgo fast charging station charges a vehicle. (Photo: Loren Elliott for CalMatters) Advocates for speeding the nation's transition to electric vehicles have joined the list of groups and individuals criticizing the massive budget reconciliation bill that was narrowly approved by U.S. House Republicans last week. In a news release distributed Tuesday, Ben Prochazka, the executive director of the nonprofit Electrification Coalition said the bill 'takes a sledgehammer' to North Carolina's electric vehicle (EV) industry and would undo EV tax credits that have led to 16,300 jobs and $20.4 billion in investments in the state. Among the provisions in current law that would be eliminated by the legislation: a tax credit of up to $7,500 for the purchase of an eligible new EV a 30% tax credit up to $100,000 per single item or $1,000 for eligible home refueling infrastructure a credit that supports a portion of the cost of producing certain technologies a credit of up to $7,500 for the purchase of eligible commercial EVs under 14,000 pounds and up to $40,000 for those over 14,000 pounds a credit of up to $4,000 for the purchase of an eligible used EV. The bill 'would eliminate critical tax credits that are spurring private-sector investments, supporting critical mineral supply chain development, creating American jobs and ensuring the United States remains competitive in the global automotive market,' Prochazka said in the statement. 'Removing these credits would pull the rug out from under the auto and aligned battery industries at a critical time, immediately putting North Carolina jobs at risk. Industry needs policy certainty and consistency to build domestic and allied supply chains.' The bill now heads to the Senate, where Prochazka said he hopes North Carolina Republican Sens. Thom Tillis and Ted Budd fight to preserve the EV credits. The legislation also would implement a new car tax, which would levy an annual tax of $250 on owners of electric vehicles and $100 for owners of hybrid vehicles. 'While all drivers should pay their fair share, this proposal is nearly three times what the average driver pays in federal gas taxes, which have not covered the cost of infrastructure for nearly 20 years,' Prochazka said. 'Rather than imposing a punitive tax on a subset of Americans, Congress should identify a fuel-neutral solution to the Highway Trust Fund's structural insolvency.' According to the Electrification Coalition, North Carolina is currently home to eight EV and battery manufacturing facilities.
Yahoo
25-05-2025
- Automotive
- Yahoo
Parents demand city pull plug on EV charging station across from Brooklyn school
Brooklyn residents are urging the city to pump the breaks on a new electric vehicle charging station set to be built across from an elementary school, insisting possible health risks aren't worth the purported green benefits, The Post has learned. Plans for an EVgo charging station on the corner of Fifth Avenue and 92nd Street in Bay Ridge are cruising along thanks to new City of Yes zoning updates that make it easier to build green energy technology and bypass community board input. EVgo submitted plans to raze the former KFC located at the site, though construction permits had not been filed yet, Crain's New York reported last week. Parents worry the charging station would bring more traffic to already dangerous roads around PS/IS 104, expose kids to potential radiation and bring the risk of fires that are more intense and difficult to extinguish. 'This is not something that should be built across from a school with over 1,000 children,' John Ricottone, a parent and first vice president president of the Community Education Council for District 20, told The Post. Ricottone is leading the charge calling for further safety evaluations of the site. 'Placing EV stations in such a high-traffic, accident-prone area—directly adjacent to an elementary school—is both reckless and dangerous,' he contended in a letter to the community, school staffers and city officials. There have been several hit-and-run accidents and pedestrians hit by cars in the area in recent years, Ricottone said. 'The safety of our children and the wellbeing of our community must take precedence over infrastructure that can—and should—be located in a safer, more appropriate location,' he wrote in the letter. The lot was purchased by the Los Angeles-based EV charging company in 2022 for $5.3 million, according to reports. EVgo did not immediately respond to a request for comment.
