EVgo Target of Unusually Large Options Trading (NYSE:EVGO)

EVgo, Inc. (NYSE:EVGO) was the recipient of some unusual options trading on Tuesday. Traders purchased 7,921 call options on the company. This is an increase of 20% compared to the average daily volume of 6,588 call options.

EVgo Price Performance

Shares of EVGO traded down $0.10 during mid-day trading on Thursday, hitting $5.10. The stock had a trading volume of 1,343,041 shares, compared to its average volume of 4,539,167. The business has a fifty day moving average price of $6.08 and a 200-day moving average price of $4.01. EVgo has a 52 week low of $1.65 and a 52 week high of $9.07. The firm has a market cap of $1.54 billion, a P/E ratio of -12.38 and a beta of 2.38.

EVgo (NYSE:EVGO) last issued its earnings results on Tuesday, November 12th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The business had revenue of $67.50 million during the quarter, compared to analyst estimates of $66.52 million. During the same period in the prior year, the company posted ($0.09) EPS. The firm’s revenue for the quarter was up 92.3% compared to the same quarter last year. As a group, research analysts expect that EVgo will post -0.4 earnings per share for the current fiscal year.

Institutional Trading of EVgo

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning increased its position in EVgo by 32.7% during 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. Legacy Capital Wealth Partners LLC increased its position in shares of EVgo by 31.8% during the third quarter. Legacy Capital Wealth Partners LLC now owns 14,500 shares of the company’s stock valued at $60,000 after acquiring an additional 3,500 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in 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 acquiring an additional 6,633 shares during the last quarter. SG Americas Securities LLC lifted its position in 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 acquiring an additional 7,687 shares in the last quarter. Finally, Atria Wealth Solutions Inc. increased its holdings in EVgo by 2.8% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 330,871 shares of the company’s stock worth $811,000 after buying an additional 8,940 shares in the last quarter. Institutional investors own 17.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EVGO. TD Cowen upgraded EVgo from a “hold” rating to a “buy” rating and raised their price target for the company from $5.00 to $7.00 in a research note on Thursday, October 3rd. Marathon Capitl raised EVgo from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. Stifel Nicolaus lifted their target price on EVgo from $6.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. UBS Group upgraded shares of EVgo from a “neutral” rating to a “buy” rating and increased their target price for the stock from $4.00 to $8.50 in a research report on Thursday, October 10th. Finally, Capital One Financial raised EVgo to a “strong-buy” rating in a research report on Monday, September 16th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $6.61.

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.