EVgo Sees Unusually Large Options Volume (NYSE:EVGO)

Posted by Defense World Staff on Jul 18th, 2023

EVgo, Inc. (NYSE:EVGO – Get Free Report) saw unusually large options trading on Monday. Stock traders bought 17,988 call options on the stock. This represents an increase of approximately 399% compared to the average daily volume of 3,608 call options.

Analyst Ratings Changes

A number of equities analysts recently commented on EVGO shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price objective on shares of EVgo in a research note on Friday, March 31st. Bank of America reduced their price target on EVgo from $7.00 to $1.00 in a research report on Friday, May 19th. Northland Securities reduced their price target on EVgo from $9.00 to $7.00 in a research report on Wednesday, May 24th. Citigroup reduced their price target on EVgo from $6.20 to $5.10 in a research report on Tuesday, June 20th. Finally, Stifel Nicolaus began coverage on EVgo in a research report on Tuesday, May 16th. They set a “buy” rating and a $9.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $8.23.

EVgo Trading Up 8.4 %

Shares of EVGO opened at $4.37 on Tuesday. EVgo has a twelve month low of $3.45 and a twelve month high of $12.65. The firm’s fifty day simple moving average is $4.32 and its 200-day simple moving average is $5.38. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -11.81 and a beta of 1.93.

EVgo (NYSE:EVGO – Get Free Report) last announced its quarterly earnings data on Tuesday, May 9th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.06. The firm had revenue of $25.30 million during the quarter, compared to analyst estimates of $27.03 million. On average, analysts predict that EVgo will post -0.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other EVgo news, General Counsel Francine Sullivan sold 11,819 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $4.13, for a total transaction of $48,812.47. Following the completion of the transaction, the general counsel now owns 55,846 shares in the company, valued at $230,643.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other EVgo news, General Counsel Francine Sullivan sold 11,819 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $4.13, for a total transaction of $48,812.47. Following the completion of the transaction, the general counsel now owns 55,846 shares in the company, valued at $230,643.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Olga Shevorenkova sold 31,093 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $3.96, for a total value of $123,128.28. Following the transaction, the chief financial officer now owns 58,820 shares of the company’s stock, valued at approximately $232,927.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 143,347 shares of company stock worth $572,076. Corporate insiders own 73.48% of the company’s stock.

Institutional Investors Weigh In On EVgo

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. raised its stake in EVgo by 16.4% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 50,817 shares of the company’s stock worth $203,000 after acquiring an additional 7,172 shares in the last quarter. Capital Advisors Wealth Management LLC raised its stake in EVgo by 8.7% during the 2nd quarter. Capital Advisors Wealth Management LLC now owns 38,659 shares of the company’s stock worth $155,000 after acquiring an additional 3,080 shares in the last quarter. SG Americas Securities LLC acquired a new stake in EVgo during the 2nd quarter worth $93,000. B. Riley Wealth Advisors Inc. acquired a new stake in EVgo during the 1st quarter worth $103,000. Finally, Jane Street Group LLC raised its stake in EVgo by 336.6% during the 1st quarter. Jane Street Group LLC now owns 251,987 shares of the company’s stock worth $1,963,000 after acquiring an additional 194,277 shares in the last quarter. 13.17% of the stock is currently owned by institutional investors and hedge funds.

EVgo Company Profile

(Get Free Report)

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.