EVgo (NASDAQ:EVGO) Sets New 12-Month Low on Analyst Downgrade

EVgo Inc. (NASDAQ:EVGO)’s share price reached a new 52-week low on Thursday 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 $2.30 and last traded at $2.32, with a volume of 3177172 shares changing hands. The stock had previously closed at $2.52.

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

More EVgo News

Here are the key news stories impacting EVgo this week:

• Positive Sentiment: Q4 beat: EVgo reported a narrower loss and an EPS beat with revenue up ~75% year-over-year, helped by an ancillary contract payment and charging network growth — a result that supports improving unit economics and revenue momentum. EVgo Q4 Loss Narrower Than Expected, Revenues Increase Y/Y
• Positive Sentiment: Shift to profitability and execution: Management says EVgo has “surged to profitability” by focusing on high-use locations, signaling improving margins and a path toward sustainable earnings. That narrative supports a longer-term bull case. EVgo surges to profitability by putting chargers ‘where people are,’ CEO says
• Positive Sentiment: Growth cadence: EVgo reiterated aggressive expansion plans (targeting ~1,400–1,650 new stalls in 2026) and an accelerated NACS rollout, which supports revenue and network effect expectations over the next 12–24 months. Evgo targets 1,400–1,650 new stalls in 2026
• Neutral Sentiment: Full disclosure: the Q4 earnings presentation and call transcript provide more detail on margins, ancillary revenue assumptions and roll-out timing for investors doing due diligence. EVgo Q4 Results – Earnings Call Presentation
• Neutral Sentiment: Broker consensus: The street still has a generally constructive stance (consensus moderate buy), but that view is mixed with revised models — useful for context but not a near-term catalyst by itself. EVgo Given Consensus Rating of “Moderate Buy”
• Neutral Sentiment: Short-interest data published around the print looks unreliable/zeroed in public feeds (likely a data anomaly), so don’t read that as a meaningful change in positioning. (Watch future updates for accurate short-interest signals.)
• Negative Sentiment: Analyst price-target trims: Several firms lowered PTs after the quarter (RBC cut to $4.50; Cantor to $6.00; Stifel to $7.00), which can pressure the stock in the near term even if ratings remain constructive. Analyst price-target updates via Benzinga Stifel PT lowered to $7
• Negative Sentiment: Profit-taking / market reaction: Coverage noted the stock dipped despite the “historic profit,” suggesting short-term selling and rotation out of the name after the print even though fundamentals improved. That dynamic explains today’s pullback. EVgo Stock Dips Despite Historic Profit

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Soros Fund Management LLC raised its holdings in shares of EVgo by 342.2% in the 2nd quarter. Soros Fund Management LLC now owns 4,976,983 shares of the company’s stock worth $18,166,000 after purchasing an additional 3,851,583 shares during the period. State Street Corp raised its stake in shares of EVgo by 59.3% in the fourth quarter. State Street Corp now owns 6,346,462 shares of the company’s stock valued at $18,468,000 after buying an additional 2,362,435 shares during the period. Invesco Ltd. raised its stake in shares of EVgo by 111.0% in the fourth 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 during the period. Millennium Management LLC lifted its position in shares of EVgo by 45.3% during the 3rd quarter. Millennium Management LLC now owns 5,560,748 shares of the company’s stock valued at $26,302,000 after buying an additional 1,734,958 shares during the last quarter. Finally, Tudor Investment Corp ET AL bought a new position in shares of EVgo during the 3rd quarter worth $8,165,000. 17.44% of the stock is owned by institutional investors.

EVgo Stock Performance

The firm has a 50 day moving average price of $2.99 and a two-hundred day moving average price of $3.54. The company has a market cap of $714.51 million, a P/E ratio of -7.25 and a beta of 2.63.

EVgo (NASDAQ:EVGO) last released its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.10. The business had revenue of $118.47 million for the quarter. The firm’s revenue was up 75.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.11) earnings per share. On average, sell-side analysts predict that EVgo Inc. will post -0.45 EPS for the current fiscal 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.