EVgo Target of Unusually High Options Trading (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 daily volume of 1,564 put options.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $5.00 target price on shares of EVgo in a report on Thursday, March 7th. Evercore ISI lowered their target price on shares of EVgo from $9.00 to $8.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $4.00 target price on shares of EVgo in a report on Friday, April 5th. Three 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, EVgo currently has a consensus rating of “Moderate Buy” and an average target price of $5.19.

EVgo Stock Up 0.6 %

Shares of EVGO stock opened at $1.75 on Wednesday. The stock has a market cap of $527.66 million, a price-to-earnings ratio of -3.72 and a beta of 2.45. EVgo has a fifty-two week low of $1.66 and a fifty-two week high of $6.48. The firm’s 50 day moving average price is $2.39 and its two-hundred day moving average price is $2.68.

EVgo (NYSE:EVGO) last announced its quarterly earnings results on Wednesday, March 6th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.05. The business had revenue of $50.00 million for the quarter, compared to analyst estimates of $44.39 million. The company’s quarterly revenue was up 83.2% on a year-over-year basis. During the same period last year, the firm earned ($0.06) earnings per share. On average, equities analysts forecast that EVgo will post -0.37 EPS for the current fiscal year.

Insider Transactions at EVgo

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in EVgo by 4.6% during the third quarter. Vanguard Group Inc. now owns 9,501,327 shares of the company’s stock valued at $32,114,000 after buying an additional 421,704 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of EVgo by 34.9% during the fourth quarter. Wellington Management Group LLP now owns 3,675,314 shares of the company’s stock worth $13,158,000 after purchasing an additional 951,272 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of EVgo by 47.8% during the third quarter. Bank of New York Mellon Corp now owns 330,856 shares of the company’s stock worth $1,118,000 after purchasing an additional 107,029 shares in the last quarter. Atria Wealth Solutions Inc. lifted its position in shares of EVgo by 3.2% during the fourth quarter. Atria Wealth Solutions Inc. now owns 288,368 shares of the company’s stock worth $1,032,000 after purchasing an additional 8,879 shares in the last quarter. Finally, Dark Forest Capital Management LP lifted its position in shares of EVgo by 1,862.2% during the third quarter. Dark Forest Capital Management LP now owns 244,722 shares of the company’s stock worth $827,000 after purchasing an additional 232,250 shares in the last quarter. 17.44% of the stock is owned by institutional investors and hedge funds.

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.