EVgo Sees Unusually Large Options Volume (NYSE:EVGO)

EVgo, Inc. (NYSE:EVGO) saw unusually large options trading on Thursday. Stock investors bought 7,389 call options on the stock. This represents an increase of 237% compared to the average daily volume of 2,191 call options.

Analyst Upgrades and Downgrades

Several research firms recently commented on EVGO. JPMorgan Chase & Co. upgraded shares of EVgo from a “neutral” rating to an “overweight” rating and set a $7.00 price target on the stock in a research note on Thursday. UBS Group assumed coverage on shares of EVgo in a research report on Monday, July 22nd. They set a “neutral” rating and a $4.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 price target on shares of EVgo in a research report on Monday. Capital One Financial upgraded EVgo to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a research report on Thursday, August 29th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $4.89.

Insider Transactions at EVgo

In other EVgo news, President Dennis G. Kish sold 16,414 shares of the company’s stock in a transaction 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 transaction, the president now directly owns 47,614 shares in the company, valued at $171,410.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Francine Sullivan sold 12,584 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $3.60, for a total transaction of $45,302.40. Following the transaction, the insider now owns 117,327 shares in the company, valued at $422,377.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Dennis G. Kish sold 16,414 shares of EVgo 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 $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 disclosure for this sale can be found here. 66.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EVgo

Institutional investors have recently added to or reduced their stakes in the business. Legacy Capital Wealth Partners LLC bought a new stake in EVgo in the second quarter valued at approximately $27,000. Voisard Asset Management Group Inc. acquired a new stake in EVgo in the fourth quarter valued at approximately $29,000. Bleakley Financial Group LLC acquired a new position in shares of EVgo during the first quarter worth approximately $36,000. SG Americas Securities LLC bought a new position in shares of EVgo in the first quarter valued at $41,000. Finally, Point72 DIFC Ltd bought a new position in EVgo in the 2nd quarter valued at about $45,000. 17.44% of the stock is owned by institutional investors.

EVgo Trading Up 33.8 %

EVgo stock traded up $1.33 during midday trading on Thursday, reaching $5.26. The company’s stock had a trading volume of 22,481,930 shares, compared to its average volume of 3,209,833. The business has a 50-day moving average price of $4.01 and a 200-day moving average price of $2.91. EVgo has a 52 week low of $1.65 and a 52 week high of $5.50. The stock has a market cap of $1.59 billion, a PE ratio of -13.82 and a beta of 2.59.

EVgo (NYSE:EVGO) last issued its earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The company had revenue of $66.62 million during the quarter, compared to analyst estimates of $59.40 million. During the same quarter in the prior year, the business earned ($0.08) EPS. The business’s quarterly revenue was up 31.8% on a year-over-year basis. As a group, research analysts predict that EVgo will post -0.4 EPS 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.