EVgo (NASDAQ:EVGO) Stock Price Down 7.8% on Analyst Downgrade

EVgo Inc. (NASDAQ:EVGO) traded down 7.8% on Wednesday after Royal Bank Of Canada lowered their price target on the stock from $7.00 to $4.50. Royal Bank Of Canada currently has an outperform rating on the stock. EVgo traded as low as $2.43 and last traded at $2.47. 2,015,777 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 3,545,203 shares. The stock had previously closed at $2.68.

Other equities research analysts have also issued reports about the stock. UBS Group raised their price target on shares of EVgo from $5.40 to $5.90 and gave the company a “buy” rating in a report on Tuesday, November 11th. Stifel Nicolaus decreased their price objective on shares of EVgo from $7.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday. Cantor Fitzgerald dropped their target price on EVgo from $7.00 to $6.00 and set an “overweight” rating on the stock in a research report on Wednesday. Benchmark reiterated a “buy” rating on shares of EVgo in a research note on Monday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of EVgo in a research note on Thursday, January 22nd. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $5.27.

EVgo News Summary

Here are the key news stories impacting EVgo this week:

• Positive Sentiment: Q4 beats: EVgo reported Q4 revenue of $118.5M (up 75% YoY) and EPS of ($0.04), beating consensus—driving an initial stock uptick after the results. Q4 press release
• Positive Sentiment: Network expansion: Management is accelerating NACS rollout and targeting 1,400–1,650 new stalls in 2026, signaling faster unit growth and network revenue scaling that supports longer‑term revenue visibility. Expansion article
• Positive Sentiment: Analyst support remains constructive: Cantor Fitzgerald and Stifel kept overweight/buy ratings despite trimming price targets, implying continued analyst conviction in upside potential (new PTs of $6.00 and $7.00 respectively). Analyst notes
• Neutral Sentiment: Coverage and summaries: Multiple outlets summarized the beat and call (earnings transcript, MarketBeat and Zacks coverage), providing detail for investors but no new catalysts beyond the results. Earnings summary
• Neutral Sentiment: Consensus rating: Brokerages show a consensus of “Moderate Buy,” reflecting mixed but generally positive sell‑side sentiment. Consensus note
• Neutral Sentiment: Short‑interest data reported appears inconsistent (zero shares / 0.0 days-to-cover) and likely reflects a data anomaly rather than a real short‑squeeze signal; treat with caution. (No reliable link available.)
• Negative Sentiment: FY‑2026 guidance disappointed vs. Street: EVgo guided revenue to $410–$470M versus consensus near ~$481M, and issued an adjusted EBITDA range that implies modest near‑term profitability risk—this trimmed some of the post‑earnings upside. Company presentation

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Soros Fund Management LLC grew its holdings in shares of EVgo by 342.2% during the second quarter. Soros Fund Management LLC now owns 4,976,983 shares of the company’s stock valued at $18,166,000 after purchasing an additional 3,851,583 shares during the last quarter. Federated Hermes Inc. increased its position in EVgo by 211.0% in the third quarter. Federated Hermes Inc. now owns 1,003,689 shares of the company’s stock worth $4,747,000 after buying an additional 681,011 shares during the period. AXQ Capital LP bought a new stake in EVgo in the second quarter valued at $382,000. Geode Capital Management LLC lifted its stake in EVgo by 11.1% in the second quarter. Geode Capital Management LLC now owns 3,147,529 shares of the company’s stock valued at $11,490,000 after buying an additional 313,335 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of EVgo by 50.0% during the second quarter. KBC Group NV now owns 191,920 shares of the company’s stock valued at $701,000 after acquiring an additional 63,972 shares during the period. Institutional investors own 17.44% of the company’s stock.

EVgo Stock Down 7.8%

The firm has a market cap of $760.71 million, a P/E ratio of -6.33 and a beta of 2.63. The firm’s 50-day moving average price is $3.00 and its 200 day moving average price is $3.55.

EVgo (NASDAQ:EVGO) last posted its earnings results on Tuesday, March 3rd. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.10. The firm had revenue of $118.47 million for the quarter. During the same period last year, the firm earned ($0.11) earnings per share. The firm’s revenue for the quarter was up 75.5% compared to the same quarter last year. On average, equities analysts predict that EVgo Inc. will post -0.45 earnings per share for the current year.

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.