Investors Purchase Large Volume of EVgo Call Options (NYSE:EVGO)

EVgo, Inc. (NYSE:EVGO) was the target of some unusual options trading activity on Tuesday. Stock traders bought 9,182 call options on the stock. This is an increase of 30% compared to the average volume of 7,067 call options.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on EVGO shares. Royal Bank of Canada boosted their price target on shares of EVgo from $4.00 to $8.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. UBS Group raised EVgo from a “neutral” rating to a “buy” rating and increased their price target for the company from $4.00 to $8.50 in a research note on Thursday, October 10th. Marathon Capitl raised EVgo from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. TD Cowen raised EVgo from a “hold” rating to a “buy” rating and increased their target price for the company from $5.00 to $7.00 in a research note on Thursday, October 3rd. Finally, Needham & Company LLC restated a “hold” rating on shares of EVgo in a research report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $6.61.

Insider Activity

In other EVgo news, CEO Badar Khan sold 166,725 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $5.14, for a total transaction of $856,966.50. Following the completion of the sale, the chief executive officer now directly owns 348,761 shares of the company’s stock, valued at approximately $1,792,631.54. The trade was a 32.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 66.96% of the stock is owned by insiders.

Institutional Investors Weigh In On EVgo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legacy Capital Wealth Partners LLC acquired a new stake in shares of EVgo in the 2nd quarter valued at approximately $27,000. Point72 DIFC Ltd acquired a new stake in EVgo in the second quarter valued at $45,000. International Assets Investment Management LLC bought a new position in shares of EVgo in the 3rd quarter valued at about $51,000. Creative Planning increased its stake in shares of EVgo by 32.7% during the 3rd quarter. Creative Planning now owns 13,365 shares of the company’s stock worth $55,000 after purchasing an additional 3,297 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of EVgo by 47.0% in the 2nd quarter. SG Americas Securities LLC now owns 24,049 shares of the company’s stock valued at $59,000 after purchasing an additional 7,687 shares during the period. 17.44% of the stock is currently owned by institutional investors and hedge funds.

EVgo Stock Performance

NYSE EVGO traded down $1.71 during trading hours on Tuesday, reaching $4.61. 34,495,639 shares of the company’s stock were exchanged, compared to its average volume of 4,789,995. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -11.02 and a beta of 2.24. The company’s 50-day moving average is $6.84 and its two-hundred day moving average is $4.70. EVgo has a one year low of $1.65 and a one year high of $9.07.

EVgo (NYSE:EVGO) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The company had revenue of $67.50 million for the quarter, compared to analyst estimates of $66.52 million. The firm’s revenue for the quarter was up 92.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.09) EPS. Research analysts predict that EVgo will post -0.41 earnings per share for the current fiscal year.

About EVgo

EVgo, Inc owns and operates a direct current fast charging network for electric vehicles (EVs) in the United States. The company offers electricity directly to drivers, who access its publicly available networked chargers; original equipment manufacturer charging and related services; fleet and rideshare public charging services; and charging as a service and fleet dedicated charging services.