EVgo Sees Unusually High Options Volume (NYSE:EVGO)

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

Insider Activity at EVgo

In other EVgo news, CEO Badar Khan sold 166,725 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $5.14, for a total value of $856,966.50. Following the transaction, the chief executive officer now directly owns 348,761 shares of the company’s stock, valued at $1,792,631.54. This represents a 32.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 66.96% of the stock is owned by company insiders.

Institutional Trading of EVgo

Institutional investors and hedge funds have recently modified their holdings of the business. Creative Planning lifted 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 acquiring an additional 3,297 shares during the last quarter. Legacy Capital Wealth Partners LLC raised its position in EVgo by 31.8% in the third quarter. Legacy Capital Wealth Partners LLC now owns 14,500 shares of the company’s stock valued at $60,000 after purchasing an additional 3,500 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of EVgo by 47.0% during the second quarter. SG Americas Securities LLC now owns 24,049 shares of the company’s stock valued at $59,000 after purchasing an additional 7,687 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of EVgo by 20.2% during the third quarter. Janus Henderson Group PLC now owns 52,416 shares of the company’s stock worth $217,000 after purchasing an additional 8,800 shares during the last quarter. Finally, Atria Wealth Solutions Inc. increased its stake in shares of EVgo by 2.8% in the second quarter. Atria Wealth Solutions Inc. now owns 330,871 shares of the company’s stock valued at $811,000 after buying an additional 8,940 shares during the period. 17.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada increased their target price on EVgo from $4.00 to $8.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a research report on Wednesday, November 13th. Stifel Nicolaus boosted their target price on shares of EVgo from $6.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. UBS Group raised shares of EVgo from a “neutral” rating to a “buy” rating and raised their price target for the stock from $4.00 to $8.50 in a research report on Thursday, October 10th. Finally, Capital One Financial raised shares of EVgo to a “strong-buy” rating in a report on Monday, September 16th. Two equities research 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. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $6.61.

EVgo Stock Down 27.1 %

Shares of NYSE:EVGO traded down $1.71 during midday trading on Tuesday, hitting $4.61. The stock had a trading volume of 34,495,639 shares, compared to its average volume of 4,789,995. The company’s 50-day moving average price is $6.84 and its 200-day moving average price is $4.70. EVgo has a fifty-two week low of $1.65 and a fifty-two week high of $9.07. The company has a market capitalization of $1.40 billion, a P/E ratio of -11.02 and a beta of 2.24.

EVgo (NYSE:EVGO) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $66.52 million. EVgo’s quarterly revenue was up 92.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.09) EPS. Research analysts expect that EVgo will post -0.41 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.