EVgo (NASDAQ:EVGO) Reaches New 1-Year Low Following Analyst Downgrade

EVgo Inc. (NASDAQ:EVGO)’s stock 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 trading hands. The stock had previously closed at $2.52.

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

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of 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 acquiring an additional 157,376 shares during the period. State Street Corp raised its holdings in shares of 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 purchasing an additional 2,362,435 shares during the period. Millennium Management LLC boosted its position in shares of EVgo by 25.9% during 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 boosted its position in shares of EVgo by 342.2% during 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 in the last quarter. Finally, Invesco Ltd. grew its stake in shares of EVgo by 111.0% in the 4th 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. Institutional investors and hedge funds own 17.44% of the company’s stock.

EVgo Trading Down 7.9%

The business has a 50-day moving average of $2.99 and a 200 day moving average of $3.54. The firm has a market capitalization of $714.51 million, a P/E ratio of -7.25 and a beta of 2.63.

EVgo (NASDAQ:EVGO) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.10. The firm had revenue of $118.47 million during the quarter. During the same period in the previous year, the business earned ($0.11) earnings per share. The business’s revenue for the quarter was up 75.5% on a year-over-year basis. As a group, research analysts forecast that EVgo Inc. will post -0.45 EPS for the current year.

About EVgo

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.