EVgo (NASDAQ:EVGO) Receives Hold Rating from Needham & Company LLC

EVgo (NASDAQ:EVGO)‘s stock had its “hold” rating reissued by stock analysts at Needham & Company LLC in a report released on Wednesday,Benzinga reports.

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

EVgo Price Performance

NASDAQ:EVGO traded down $0.20 during trading hours on Wednesday, reaching $1.52. 7,851,639 shares of the company traded hands, compared to its average volume of 4,053,260. EVgo has a 1-year low of $1.41 and a 1-year high of $5.18. The stock has a market cap of $478.64 million, a P/E ratio of -4.39 and a beta of 2.82. The firm’s 50-day moving average is $1.87 and its 200-day moving average is $2.18. The company has a debt-to-equity ratio of 5.39, a current ratio of 2.07 and a quick ratio of 2.07.

EVgo (NASDAQ:EVGO) last released its earnings results on Wednesday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.03. The business’s quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.10) earnings per share. Equities research analysts expect that EVgo will post -0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EVgo

Several institutional investors and hedge funds have recently bought and sold shares of EVGO. Quarry LP grew its stake in shares of EVgo by 145.0% in the 4th quarter. Quarry LP now owns 9,307 shares of the company’s stock valued at $27,000 after purchasing an additional 5,508 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of EVgo in the fourth quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of EVgo by 4,903.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 9,856 shares of the company’s stock valued at $29,000 after purchasing an additional 9,659 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in EVgo during the 4th quarter worth approximately $32,000. Finally, Sage Investment Advisers LLC bought a new position in shares of EVgo during the 4th quarter worth approximately $36,000. 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

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.