EVgo Sees Unusually High Options Volume (NASDAQ:EVGO)

EVgo Inc. (NASDAQ:EVGO – Get Free Report) was the target of unusually large options trading on Monday. Traders bought 15,524 call options on the company. This represents an increase of approximately 1,664% compared to the typical volume of 880 call options.

EVgo Stock Performance

Shares of NASDAQ EVGO traded up $0.14 during mid-day trading on Monday, reaching $1.56. 5,645,123 shares of the company were exchanged, compared to its average volume of 4,060,766. The stock has a market capitalization of $489.62 million, a P/E ratio of -4.46 and a beta of 2.78. 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 company’s 50-day simple moving average is $1.91 and its 200-day simple moving average is $2.26. EVgo has a twelve month low of $1.41 and a twelve month high of $5.18.

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EVgo (NASDAQ:EVGO – Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02. The company had revenue of $109.53 million during the quarter. The business’s revenue was up 45.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.09) EPS. As a group, research analysts predict that EVgo will post -0.51 earnings per share for the current year.

Hedge Funds Weigh In On EVgo

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of EVgo by 1.3% during the third quarter. Vanguard Group Inc. now owns 12,399,808 shares of the company’s stock worth $58,651,000 after purchasing an additional 157,376 shares during the period. State Street Corp boosted its stake in EVgo by 59.3% in the 4th quarter. State Street Corp now owns 6,346,462 shares of the company’s stock valued at $18,468,000 after purchasing an additional 2,362,435 shares during the period. Millennium Management LLC boosted its stake in EVgo by 25.9% in the 1st quarter. Millennium Management LLC now owns 5,819,392 shares of the company’s stock valued at $15,480,000 after purchasing an additional 1,195,470 shares during the period. Soros Fund Management LLC grew its holdings in EVgo by 12.5% in the 4th quarter. Soros Fund Management LLC now owns 4,500,000 shares of the company’s stock valued at $13,095,000 after buying an additional 500,000 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in EVgo by 111.0% in the 4th quarter. Invesco Ltd. now owns 4,424,683 shares of the company’s stock valued at $12,876,000 after buying an additional 2,327,545 shares in the last quarter. Institutional investors and hedge funds own 17.44% of the company’s stock.

Wall Street Analyst Weigh In

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

Read Our Latest Stock Analysis on EVGO

EVgo Company Profile

(Get Free Report)

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.

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