EVgo Sees Unusually Large Options Volume (NYSE:EVGO)

EVgo, Inc. (NYSE:EVGO) was the target of unusually large options trading activity on Monday. Stock investors bought 12,188 put options on the company. This represents an increase of 679% compared to the average volume of 1,564 put options.

Analyst Ratings Changes

A number of analysts recently issued reports on EVGO shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $4.00 target price on shares of EVgo in a research report on Friday, April 5th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $5.00 price target on shares of EVgo in a research report on Thursday, March 7th. Finally, Evercore ISI cut their price objective on EVgo from $9.00 to $8.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $5.19.

Insider Buying and Selling

In related news, CFO Olga Shevorenkova sold 19,363 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total transaction of $58,089.00. Following the completion of the transaction, the chief financial officer now directly owns 81,991 shares in the company, valued at $245,973. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, President Dennis G. Kish sold 34,717 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $3.00, for a total value of $104,151.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Olga Shevorenkova sold 19,363 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total transaction of $58,089.00. Following the sale, the chief financial officer now directly owns 81,991 shares in the company, valued at $245,973. The disclosure for this sale can be found here. Insiders have sold a total of 86,002 shares of company stock worth $234,693 over the last ninety days. Company insiders own 66.96% of the company’s stock.

Hedge Funds Weigh In On EVgo

Institutional investors and hedge funds have recently modified their holdings of the stock. Voisard Asset Management Group Inc. acquired a new stake in EVgo during the 4th quarter worth approximately $29,000. Headlands Technologies LLC bought a new position in EVgo during the 3rd quarter worth $32,000. Verdence Capital Advisors LLC acquired a new stake in shares of EVgo during the third quarter worth $34,000. Sigma Planning Corp bought a new stake in shares of EVgo in the third quarter valued at about $36,000. Finally, Legacy Capital Wealth Partners LLC acquired a new position in shares of EVgo in the third quarter valued at about $37,000. 17.44% of the stock is currently owned by institutional investors and hedge funds.

EVgo Stock Performance

EVgo stock opened at $1.74 on Tuesday. The stock has a 50-day simple moving average of $2.40 and a 200 day simple moving average of $2.69. The stock has a market capitalization of $524.64 million, a P/E ratio of -3.70 and a beta of 2.45. EVgo has a 52 week low of $1.66 and a 52 week high of $6.48.

EVgo (NYSE:EVGO) last issued its earnings results on Wednesday, March 6th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.05. The business had revenue of $50.00 million for the quarter, compared to the consensus estimate of $44.39 million. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. The business’s revenue was up 83.2% compared to the same quarter last year. Research analysts forecast that EVgo will post -0.37 earnings per share for the current 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.