Investors Buy High Volume of EVgo Call Options (NASDAQ:EVGO)

EVgo Inc. (NASDAQ:EVGO) saw unusually large options trading activity on Monday. Stock investors acquired 15,524 call options on the company. This is an increase of approximately 1,664% compared to the average daily volume of 880 call options.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Quarry LP grew its position in EVgo by 145.0% during the 4th quarter. Quarry LP now owns 9,307 shares of the company’s stock worth $27,000 after acquiring an additional 5,508 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of EVgo during the fourth quarter valued at about $27,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of EVgo by 4,903.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 9,856 shares of the company’s stock valued at $29,000 after purchasing an additional 9,659 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of EVgo during the fourth quarter worth about $32,000. Finally, Sage Investment Advisers LLC bought a new stake in shares of EVgo during the fourth quarter worth about $36,000. 17.44% of the stock is currently owned by institutional investors and hedge funds.

EVgo Trading Up 9.9%

Shares of EVgo stock opened at $1.56 on Tuesday. The firm has a market capitalization of $489.62 million, a PE ratio of -4.46 and a beta of 2.78. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 5.39. The firm’s 50 day moving average is $1.90 and its 200 day moving average is $2.24. EVgo has a 1 year low of $1.41 and a 1 year high of $5.18.

EVgo (NASDAQ:EVGO) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. The company had revenue of $109.53 million for the quarter. During the same period last year, the company posted ($0.09) EPS. EVgo’s quarterly revenue was up 45.4% compared to the same quarter last year. Equities research analysts forecast that EVgo will post -0.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on EVGO shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of EVgo in a research report on Wednesday, July 15th. JPMorgan Chase & Co. restated an “underweight” rating on shares of EVgo in a research report on Tuesday, July 21st. Royal Bank Of Canada cut their target price on EVgo from $4.50 to $3.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Finally, Wall Street Zen downgraded EVgo from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $5.28.

EVgo Company Profile

EVgo operates one of the largest public electric vehicle (EV) fast-charging networks in the United States, delivering direct current (DC) fast charging and Level 2 charging services to passenger vehicles and commercial fleets. The company’s charging stations are strategically located in urban centers, suburban shopping areas, workplace parking facilities, and along major highway corridors, enabling convenient access for EV drivers and promoting long-distance travel.

The company offers a suite of charging solutions, including subscription plans, pay-per-use options, and fleet charging services tailored to the needs of ride-hailing, delivery, and corporate vehicle fleets.