Traders Buy Large Volume of Call Options on EVgo (NYSE:EVGO)

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

Insider Activity at EVgo

In other news, CEO Badar Khan sold 166,725 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $5.14, for a total transaction of $856,966.50. Following the sale, the chief executive officer now directly owns 348,761 shares in the company, valued at approximately $1,792,631.54. This represents a 32.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 66.96% of the company’s stock.

Hedge Funds Weigh In On EVgo

Several large investors have recently bought and sold shares of EVGO. Legacy Capital Wealth Partners LLC bought a new position in shares of EVgo during the 2nd quarter worth about $27,000. International Assets Investment Management LLC bought a new stake in EVgo in the 3rd quarter valued at $51,000. Creative Planning raised its stake in shares of EVgo by 32.7% in the 3rd quarter. Creative Planning now owns 13,365 shares of the company’s stock valued at $55,000 after buying an additional 3,297 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of EVgo during the 2nd quarter worth about $45,000. Finally, Blueshift Asset Management LLC acquired a new stake in shares of EVgo during the 3rd quarter valued at about $80,000. 17.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

EVGO has been the subject of a number of recent analyst reports. UBS Group raised EVgo from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $4.00 to $8.50 in a report on Thursday, October 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a report on Wednesday, November 13th. Marathon Capitl raised shares of EVgo from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 price objective on shares of EVgo in a research note on Monday, September 30th. Finally, Royal Bank of Canada boosted their price target on shares of EVgo from $4.00 to $8.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $6.61.

EVgo Trading Down 4.7 %

NYSE EVGO opened at $4.46 on Thursday. EVgo has a 1 year low of $1.65 and a 1 year high of $9.07. The company has a fifty day simple moving average of $6.75 and a 200 day simple moving average of $4.71. The company has a market cap of $1.35 billion, a P/E ratio of -10.62 and a beta of 2.24.

EVgo (NYSE:EVGO) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The business had revenue of $67.50 million for the quarter, compared to the consensus estimate of $66.52 million. EVgo’s revenue for the quarter was up 92.3% on a year-over-year basis. During the same period last year, the business earned ($0.09) EPS. Equities research analysts forecast that EVgo will post -0.41 EPS for the current fiscal 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.