Needham & Company LLC Reiterates “Hold” Rating for EVgo (NASDAQ:EVGO)

EVgo (NASDAQ:EVGO)‘s stock had its “hold” rating reaffirmed by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday,Benzinga reports.

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

EVgo Stock Performance

NASDAQ:EVGO traded down $0.20 during mid-day trading on Wednesday, hitting $1.52. 7,851,639 shares of the stock were exchanged, compared to its average volume of 4,053,260. The firm’s 50-day simple moving average is $1.87 and its 200 day simple moving average is $2.18. The stock has a market capitalization of $478.64 million, a price-to-earnings ratio of -4.39 and a beta of 2.82. EVgo has a fifty-two week low of $1.41 and a fifty-two week high of $5.18. The company has a debt-to-equity ratio of 5.39, a quick ratio of 2.07 and a current ratio of 2.07.

EVgo (NASDAQ:EVGO) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.03. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.10) EPS. As a group, equities analysts anticipate that EVgo will post -0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in EVgo by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 12,399,808 shares of the company’s stock valued at $58,651,000 after purchasing an additional 157,376 shares during the last quarter. State Street Corp raised its holdings in EVgo by 59.3% during the fourth quarter. State Street Corp now owns 6,346,462 shares of the company’s stock valued at $18,468,000 after acquiring an additional 2,362,435 shares during the period. Millennium Management LLC lifted its holdings in EVgo by 25.9% in the 1st quarter. Millennium Management LLC now owns 5,819,392 shares of the company’s stock worth $15,480,000 after purchasing an additional 1,195,470 shares in the last quarter. Soros Fund Management LLC lifted its holdings in shares of EVgo by 12.5% in the fourth quarter. Soros Fund Management LLC now owns 4,500,000 shares of the company’s stock worth $13,095,000 after buying an additional 500,000 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of EVgo by 111.0% during the fourth quarter. Invesco Ltd. now owns 4,424,683 shares of the company’s stock valued at $12,876,000 after purchasing an additional 2,327,545 shares in the last quarter. Hedge funds and other institutional investors own 17.44% of the company’s stock.

Key Stories Impacting EVgo

Here are the key news stories impacting EVgo this week:

• Positive Sentiment: EVgo reported a second-quarter loss of $0.15 per share, better than the $0.18 loss expected by analysts, although the loss widened from $0.10 per share a year earlier. EVgo Reports Q2 Loss, Tops Revenue Estimates
• Positive Sentiment: Charging-network revenue increased 19% year over year to $61 million, marking the 18th consecutive quarter of double-digit growth. Network throughput also rose 13% to 99 gigawatt-hours, indicating continued demand for EVgo’s chargers. EVgo Reports Second Quarter 2026 Results
• Positive Sentiment: EVgo is expanding its network through partnerships. Its agreement with Brixmor is expected to add more than 500 fast-charging stalls at over 90 shopping centers, while the Pilot-General Motors-EVgo network has surpassed 300 locations and 1,300 stalls across 40 states. EVgo and Brixmor Expand Partnership
• Positive Sentiment: The company plans to deploy V4 EVgo Superchargers capable of up to 500 kilowatts and 1,000 volts, potentially improving charging speed and network competitiveness. EVgo Expands Fast Charging
• Neutral Sentiment: Management’s Q2 earnings call provided additional commentary on operating performance, network expansion and the company’s outlook. EVgo Q2 2026 Earnings Call Transcript
• Negative Sentiment: Reported revenue declined 15.7% year over year, signaling weakness outside the core charging-network business despite solid network revenue growth. EVgo Earnings Results
• Negative Sentiment: EVgo guided to fiscal 2026 revenue of $400 million to $430 million, below the approximately $433.2 million analyst consensus. The lower outlook offsets the quarterly EPS beat and is the clearest near-term pressure on the shares. EVgo Q2 Key Metrics

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.