Evgo Inc saw a positive improvement to its Relative Strength (RS) Rating on Tuesday, rising from 89 to 92.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD's unique RS Rating identifies market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the last 52 weeks matches up against other publicly traded companies.
Over 100 years of market history shows that the market's biggest winners tend to have an 80 or better RS Rating at the beginning of a new climb.
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Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock manages to establish and enter a buy zone in heavy trade.
Evgo Inc saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 0% to 500%. Revenue rose from 86% to 90%.
The company holds the No. 15 rank among its peers in the Electrical Power/Equipment industry group. Franklin Electric, Encore Wire and AZZ are among the top 5 highly rated stocks within the group.
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