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

EVgo, Inc. (NYSE:EVGO) was the recipient of some unusual options trading activity on Thursday. Stock investors acquired 7,389 call options on the company. This represents an increase of approximately 237% compared to the average volume of 2,191 call options.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on EVGO shares. Benchmark increased their target price on shares of EVgo from $3.00 to $5.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Capital One Financial raised shares of EVgo to a “strong-buy” rating in a research note on Monday, September 16th. UBS Group initiated coverage on shares of EVgo in a research note on Monday, July 22nd. They set a “neutral” rating and a $4.00 target price for the company. JPMorgan Chase & Co. raised shares of EVgo from a “neutral” rating to an “overweight” rating and set a $7.00 price target on the stock in a research report on Thursday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a report on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.22.

Insider Buying and Selling at EVgo

In related news, insider Francine Sullivan sold 12,584 shares of the business’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 $45,302.40. Following the sale, the insider now owns 117,327 shares in the company, valued at $422,377.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Francine Sullivan sold 12,584 shares of EVgo stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $3.60, for a total transaction of $45,302.40. Following the sale, the insider now directly owns 117,327 shares in the company, valued at $422,377.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Dennis G. Kish sold 16,414 shares of the business’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 transaction of $59,090.40. Following the sale, the president now directly owns 47,614 shares in the company, 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. Company insiders own 66.96% of the company’s stock.

Institutional Investors Weigh In On EVgo

A number of hedge funds have recently added to or reduced their stakes in EVGO. Price T Rowe Associates Inc. MD lifted its holdings in shares of EVgo by 11.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 63,392 shares of the company’s stock worth $160,000 after purchasing an additional 6,633 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of EVgo by 47.0% in the second quarter. SG Americas Securities LLC now owns 24,049 shares of the company’s stock valued at $59,000 after buying an additional 7,687 shares in the last quarter. Voisard Asset Management Group Inc. acquired a new position in shares of EVgo during the fourth quarter valued at about $29,000. Atria Wealth Solutions Inc. increased its position in shares of EVgo by 2.8% during the second quarter. Atria Wealth Solutions Inc. now owns 330,871 shares of the company’s stock worth $811,000 after acquiring an additional 8,940 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC acquired a new stake in shares of EVgo in the 2nd quarter worth about $27,000. Institutional investors and hedge funds own 17.44% of the company’s stock.

EVgo Trading Up 13.9 %

NYSE:EVGO opened at $7.20 on Friday. EVgo has a 12 month low of $1.65 and a 12 month high of $7.69. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of -18.97 and a beta of 2.58. The firm has a fifty day simple moving average of $4.07 and a two-hundred day simple moving average of $2.94.

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