EVgo Sees Unusually High Options Volume (NYSE:EVGO)

EVgo, Inc. (NYSE:EVGO) was the target of unusually large options trading on Thursday. Investors purchased 7,389 call options on the stock. This represents an increase of approximately 237% compared to the average daily volume of 2,191 call options.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. TD Cowen raised EVgo from a “hold” rating to a “buy” rating and raised their target price for the company from $5.00 to $7.00 in a research report on Thursday. Cantor Fitzgerald restated an “overweight” rating and set a $5.00 price objective on shares of EVgo in a report on Monday, September 30th. Stifel Nicolaus dropped their target price on shares of EVgo from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Capital One Financial upgraded shares of EVgo to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Benchmark upped their price objective on EVgo from $3.00 to $5.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, EVgo presently has an average rating of “Moderate Buy” and a consensus target price of $5.22.

Insider Buying and Selling

In other EVgo news, President Dennis G. Kish sold 16,414 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $3.60, for a total transaction of $59,090.40. Following the transaction, the president now directly owns 47,614 shares in the company, valued at approximately $171,410.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Francine Sullivan sold 12,584 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $3.60, for a total value of $45,302.40. Following the completion of the transaction, the insider now directly owns 117,327 shares of the company’s stock, valued at $422,377.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Dennis G. Kish sold 16,414 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $3.60, for a total value of $59,090.40. Following the sale, the president now directly owns 47,614 shares of the company’s stock, valued at $171,410.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 66.96% of the stock is currently owned by corporate insiders.

Institutional Trading of EVgo

A number of institutional investors have recently added to or reduced their stakes in EVGO. KBC Group NV lifted its stake in EVgo by 88.7% in the 4th quarter. KBC Group NV now owns 227,367 shares of the company’s stock worth $814,000 after purchasing an additional 106,869 shares in the last quarter. Blueshift Asset Management LLC purchased a new stake in shares of EVgo in the fourth quarter worth $72,000. Voisard Asset Management Group Inc. bought a new stake in EVgo during the fourth quarter valued at $29,000. Wellington Management Group LLP grew its position in EVgo by 34.9% during the fourth quarter. Wellington Management Group LLP now owns 3,675,314 shares of the company’s stock worth $13,158,000 after buying an additional 951,272 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in EVgo in the 1st quarter worth about $71,000. Hedge funds and other institutional investors own 17.44% of the company’s stock.

EVgo Stock Up 13.9 %

NYSE EVGO opened at $7.20 on Friday. The company’s 50 day moving average is $4.07 and its 200-day moving average is $2.94. The firm has a market cap of $2.17 billion, a P/E ratio of -18.97 and a beta of 2.58. EVgo has a 12-month low of $1.65 and a 12-month high of $7.69.

EVgo (NYSE:EVGO) last issued its earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The business had revenue of $66.62 million for the quarter, compared to the consensus estimate of $59.40 million. During the same period in the previous year, the firm earned ($0.08) EPS. The company’s revenue was up 31.8% compared to the same quarter last year. Equities analysts expect that EVgo will post -0.4 EPS for the current year.

EVgo Company Profile

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.