Stock Traders Purchase Large Volume of Call Options on EVgo (NASDAQ:EVGO)

EVgo, Inc. (NASDAQ:EVGO - Get Free Report) was the target of unusually large options trading activity on Tuesday. Stock traders acquired 14,559 call options on the stock. This represents an increase of 874% compared to the typical daily volume of 1,495 call options.

Analyst Ratings Changes

EVGO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reissued an "overweight" rating on shares of EVgo in a report on Thursday. Needham & Company LLC reaffirmed a "hold" rating on shares of EVgo in a report on Wednesday, March 5th. UBS Group lowered their target price on shares of EVgo from $8.00 to $5.00 and set a "buy" rating for the company in a report on Monday, January 27th. Roth Capital reissued a "buy" rating on shares of EVgo in a research note on Wednesday. Finally, Stifel Nicolaus reduced their price objective on EVgo from $10.00 to $8.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $6.25.

EVgo Stock Performance

Shares of EVgo stock traded down $0.17 on Friday, hitting $3.66. The company's stock had a trading volume of 5,720,901 shares, compared to its average volume of 4,354,259. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -8.71 and a beta of 2.27. The firm has a fifty day moving average price of $2.71 and a 200-day moving average price of $4.05. EVgo has a 1 year low of $1.80 and a 1 year high of $9.07.

EVgo (NASDAQ:EVGO - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.11) by $0.02. The business had revenue of $75.29 million during the quarter, compared to analyst estimates of $70.11 million. During the same quarter in the previous year, the company posted ($0.09) EPS. The firm's revenue was up 36.4% on a year-over-year basis. As a group, analysts forecast that EVgo will post -0.45 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its position in shares of EVgo by 18.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 353,653 shares of the company's stock valued at $941,000 after purchasing an additional 54,859 shares during the period. BIT Capital GmbH purchased a new position in shares of EVgo during the first quarter worth about $59,000. XTX Topco Ltd purchased a new stake in EVgo during the 1st quarter valued at approximately $55,000. Federated Hermes Inc. acquired a new stake in EVgo during the 1st quarter worth approximately $856,000. Finally, Inspire Advisors LLC purchased a new position in EVgo in the 1st quarter valued at $64,000. 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.