Traders Purchase High Volume of Put Options on EVgo (NYSE:EVGO)

EVgo, Inc. (NYSE:EVGO - Get Free Report) was the target of unusually large options trading on Monday. Stock traders acquired 12,188 put options on the stock. This represents an increase of approximately 679% compared to the typical volume of 1,564 put options.

Insiders Place Their Bets

In other news, President Dennis G. Kish sold 34,717 shares of the firm's stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total value of $104,151.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Olga Shevorenkova sold 19,363 shares of the firm's stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total value of $58,089.00. Following the completion of the transaction, the chief financial officer now owns 81,991 shares in the company, valued at approximately $245,973. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Dennis G. Kish sold 34,717 shares of the firm'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 $104,151.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,002 shares of company stock worth $234,693. 66.96% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EVgo

Hedge funds have recently made changes to their positions in the company. Voisard Asset Management Group Inc. bought a new stake in EVgo during the fourth quarter worth approximately $29,000. Headlands Technologies LLC bought a new position in shares of EVgo during the third quarter valued at approximately $32,000. Verdence Capital Advisors LLC bought a new position in shares of EVgo during the third quarter valued at approximately $34,000. Sigma Planning Corp bought a new position in shares of EVgo during the third quarter valued at approximately $36,000. Finally, Legacy Capital Wealth Partners LLC bought a new position in shares of EVgo during the third quarter valued at approximately $37,000. 17.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on EVGO. Royal Bank of Canada reiterated an "outperform" rating and set a $4.00 price objective on shares of EVgo in a research note on Friday, April 5th. Cantor Fitzgerald reiterated a "neutral" rating and set a $5.00 price objective on shares of EVgo in a research note on Thursday, March 7th. Finally, Evercore ISI lowered their price objective on EVgo from $9.00 to $8.00 and set an "outperform" rating for the company in a research note on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $5.19.

EVgo Stock Up 0.6 %

Shares of EVgo stock traded up $0.01 on Monday, reaching $1.74. The company's stock had a trading volume of 3,285,041 shares, compared to its average volume of 2,790,030. The company has a market capitalization of $524.64 million, a price-to-earnings ratio of -3.70 and a beta of 2.45. The firm's fifty day simple moving average is $2.40 and its two-hundred day simple moving average is $2.69. EVgo has a 52 week low of $1.66 and a 52 week high of $6.48.

EVgo (NYSE:EVGO - Get Free Report) last posted its earnings results on Wednesday, March 6th. The company reported ($0.12) EPS for the quarter, topping analysts' consensus estimates of ($0.17) by $0.05. The business had revenue of $50.00 million during the quarter, compared to the consensus estimate of $44.39 million. During the same period in the previous year, the business posted ($0.06) EPS. The firm's revenue for the quarter was up 83.2% on a year-over-year basis. As a group, research analysts predict that EVgo will post -0.37 EPS for the current year.

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.