EVgo Inc. (NASDAQ:EVGO – Get Free Report) was the recipient of unusually large options trading on Monday. Stock traders purchased 4,024 call options on the company. This is an increase of 320% compared to the average volume of 959 call options.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the stock. UBS Group reiterated a “buy” rating on shares of EVgo in a research report on Wednesday, October 7th. Royal Bank Of Canada reduced their price objective on shares of EVgo from $3.00 to $2.50 and set an “outperform” rating for the company in a report on Thursday, August 6th. Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a research note on Wednesday, August 5th. Stifel Nicolaus decreased their price objective on shares of EVgo from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, August 25th. Finally, Roth Capital set a $2.00 target price on EVgo in a report on Monday, August 10th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $2.93.
Get Our Latest Research Report on EVgo
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in EVGO. State Street Corp lifted its holdings in EVgo by 1.3% during the 2nd quarter. State Street Corp now owns 6,371,895 shares of the company’s stock worth $12,170,000 after purchasing an additional 80,946 shares during the last quarter. Tidal Investments LLC increased its position in EVgo by 2,675.5% during the 2nd quarter. Tidal Investments LLC now owns 331,891 shares of the company’s stock worth $634,000 after buying an additional 319,933 shares during the period. Squarepoint Ops LLC bought a new stake in shares of EVgo in the second quarter valued at about $149,000. Kintra Wealth LLC acquired a new position in shares of EVgo in the second quarter valued at about $25,000. Finally, J. Derek Lewis & Associates Inc. increased its position in EVgo by 59.3% during the first quarter. J. Derek Lewis & Associates Inc. now owns 43,000 shares of the company’s stock worth $74,000 after acquiring an additional 16,000 shares during the period. 17.44% of the stock is owned by institutional investors and hedge funds.
EVgo Trading Up 49.6%
EVGO stock traded up $0.62 during midday trading on Monday, hitting $1.89. 53,407,073 shares of the company’s stock were exchanged, compared to its average volume of 4,156,811. EVgo has a one year low of $0.98 and a one year high of $4.11. The company has a debt-to-equity ratio of 5.39, a quick ratio of 2.19 and a current ratio of 2.19. The company has a market cap of $592.87 million, a PE ratio of -4.71 and a beta of 2.87. The stock’s fifty day moving average price is $1.30 and its 200-day moving average price is $1.93.
EVgo (NASDAQ:EVGO – Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.03. The company had revenue of $82.65 million during the quarter. During the same period in the previous year, the firm posted ($0.10) earnings per share. The company’s revenue for the quarter was down 15.7% on a year-over-year basis. Research analysts predict that EVgo will post -0.50 earnings per share for the current fiscal year.
EVgo Company Profile
EVgo, Inc (NASDAQ: EVGO) operates a public electric vehicle charging network in the United States. The company develops, owns and operates fast-charging stations designed primarily for passenger vehicles, providing drivers with access to charging at shopping centers, grocery stores, retail locations, workplaces and other convenient destinations.
EVgo’s services include on-demand charging through its network and mobile app, as well as features such as payment processing, station availability information and vehicle-to-charger connectivity.
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