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

EVgo Inc. (NASDAQ:EVGO) traded down 7.8% during mid-day trading 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 were traded 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.

Several other equities analysts have also recently commented on the stock. UBS Group boosted 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. Weiss Ratings reissued a “sell (d-)” rating on shares of EVgo in a research report on Thursday, January 22nd. Benchmark reaffirmed a “buy” rating on shares of EVgo in a research report on Monday. Stifel Nicolaus cut their price target on EVgo from $7.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Cantor Fitzgerald lowered 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. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, EVgo currently has an average rating of “Moderate Buy” and an average price target of $5.27.

Key Headlines Impacting EVgo

Here are the key news stories impacting EVgo this week:

• Positive Sentiment: Reported a strong Q4 and FY‑2025: Q4 revenue $118M (up 75% y/y) and EPS beat analysts’ estimates, and full‑year revenue rose ~50% — underlying business growth and margin progress support long‑term thesis. Read More.
• Positive Sentiment: Company is accelerating network rollout and NACS conversion, targeting 1,400–1,650 new stalls in 2026 — growth initiatives that can expand utilization and charging revenue. Read More.
• Neutral Sentiment: Corporate outlook: EVgo initiated FY‑2026 guidance of $410–$470M revenue and adjusted EBITDA of $(20)–$20M — it provides a framework for 2026 but leaves a wide earnings band. Read More.
• Neutral Sentiment: Brokerage consensus remains constructive overall (consensus “Moderate Buy”), showing continuing analyst support despite near‑term noise. Read More.
• Negative Sentiment: Several analysts cut price targets (RBC to $4.50, Cantor Fitzgerald to $6.00, Stifel to $7.00) — these downward revisions, even with buy/outperform ratings retained, likely pressured the stock. Read More. Read More.
• Negative Sentiment: FY‑2026 revenue guidance came in below Street expectations (~$480.8M), creating near‑term earnings uncertainty and giving investors a reason to trim positions. Read More.
• Neutral Sentiment: Market reaction: higher volume than average is amplifying moves; recent short‑interest data is noisy/unreliable in reports and not clearly explanatory for today’s decline. Read More.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd boosted its holdings in EVgo by 9,108.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 18,141 shares of the company’s stock valued at $53,000 after acquiring an additional 17,944 shares during the period. Virtu Financial LLC acquired a new position in shares of EVgo during the 4th quarter worth about $137,000. Invesco Ltd. boosted its stake in EVgo by 111.0% during the 4th 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 during the period. XTX Topco Ltd acquired a new stake in EVgo in the 4th quarter valued at approximately $155,000. Finally, VARCOV Co. bought a new position in EVgo in the 4th quarter worth approximately $430,000. 17.44% of the stock is currently owned by institutional investors and hedge funds.

EVgo Stock Performance

The company has a market capitalization of $776.11 million, a P/E ratio of -7.88 and a beta of 2.63. The company has a 50-day simple moving average of $2.99 and a 200 day simple moving average of $3.54.

EVgo (NASDAQ:EVGO) last announced its earnings results on Tuesday, March 3rd. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.10. The company had revenue of $118.47 million for the quarter. The company’s revenue for the quarter was up 75.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.11) earnings per share. As a group, sell-side analysts forecast 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.