EVgo Target of Unusually Large Options Trading (NASDAQ:EVGO)

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

EVgo Stock Performance

Shares of NASDAQ EVGO opened at $1.63 on Wednesday. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 5.39. The firm’s 50-day moving average price is $1.89 and its two-hundred day moving average price is $2.23. EVgo has a 52-week low of $1.41 and a 52-week high of $5.18. The stock has a market capitalization of $511.59 million, a P/E ratio of -4.66 and a beta of 2.78.

EVgo (NASDAQ:EVGO) last posted its earnings results on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.02. The company had revenue of $109.53 million for the quarter. The company’s revenue was up 45.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.09) earnings per share. As a group, sell-side analysts forecast that EVgo will post -0.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Quarry LP increased its position in EVgo by 145.0% in the fourth quarter. Quarry LP now owns 9,307 shares of the company’s stock worth $27,000 after buying an additional 5,508 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of EVgo during the fourth quarter valued at $27,000. Caitong International Asset Management Co. Ltd grew its position 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 worth $29,000 after acquiring an additional 9,659 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in shares of EVgo during the fourth quarter worth about $32,000. Finally, Sage Investment Advisers LLC bought a new position in shares of EVgo during the fourth quarter worth about $36,000. 17.44% of the stock is currently owned by institutional investors.

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.