Royal Bank Of Canada Issues Pessimistic Forecast for EVgo (NASDAQ:EVGO) Stock Price

EVgo (NASDAQ:EVGO) had its target price reduced by equities researchers at Royal Bank Of Canada from $3.00 to $2.50 in a report released on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 63.93% from the stock’s current price.

EVGO has been the subject of several other reports. Cantor Fitzgerald lowered their price objective on shares of EVgo from $4.00 to $3.00 and set an “overweight” rating for the company in a research note on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a report on Wednesday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of EVgo in a research report on Wednesday, July 15th. Wall Street Zen downgraded EVgo from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th. Finally, JPMorgan Chase & Co. restated an “underweight” rating on shares of EVgo in a report on Tuesday, July 21st. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, EVgo currently has an average rating of “Hold” and a consensus price target of $4.60.

EVgo Stock Down 0.3%

Shares of EVGO traded down $0.01 on Thursday, reaching $1.52. The company’s stock had a trading volume of 2,367,962 shares, compared to its average volume of 4,054,471. EVgo has a twelve month low of $1.41 and a twelve month high of $5.18. The stock has a market capitalization of $478.64 million, a PE ratio of -4.39 and a beta of 2.82. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 5.39. The firm has a fifty day moving average of $1.86 and a 200-day moving average of $2.17.

EVgo (NASDAQ:EVGO) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.03. The business had revenue of $82.65 million for the quarter. The business’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period last year, the company earned ($0.10) earnings per share. Equities analysts predict that EVgo will post -0.51 EPS for the current year.

Institutional Trading of EVgo

A number of large investors have recently made changes to their positions in the company. Quarry LP boosted its stake in EVgo by 145.0% during the 4th quarter. Quarry LP now owns 9,307 shares of the company’s stock worth $27,000 after purchasing an additional 5,508 shares during the period. Kestra Advisory Services LLC purchased a new stake in shares of EVgo during the 4th quarter valued at $27,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of EVgo by 4,903.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 9,856 shares of the company’s stock worth $29,000 after buying an additional 9,659 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in EVgo in the third quarter valued at $49,000. Finally, Balyasny Asset Management L.P. acquired a new stake in EVgo during the fourth quarter worth about $32,000. 17.44% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting EVgo

Here are the key news stories impacting EVgo this week:

• Positive Sentiment: New Tesla-based fast chargers expand EVgo’s network. EVgo plans to deploy EVgo-branded Tesla V4 Superchargers across U.S. metropolitan areas. The chargers can deliver up to 500 kW and 1,000 volts, potentially improving charging speed, broadening vehicle compatibility through Magic Dock, and increasing EVgo’s addressable customer base. EVgo Expands Fast Charging in the U.S. with Supercharger Deployment
• Positive Sentiment: Charging-network fundamentals remained strong. Q2 charging-network revenue rose 19% year over year to $61 million, marking the 18th consecutive quarter of double-digit growth. Network throughput increased 13% to 99 gigawatt-hours. EVgo also outlined a path toward approximately $500 million in adjusted EBITDA by 2030. EVgo Inc. Reports Second Quarter 2026 Results
• Positive Sentiment: EVgo beat quarterly loss expectations. The company reported a Q2 loss of $0.15 per share, better than the $0.18 consensus estimate. Planned expansion with Brixmor could add more than 500 charging stalls at shopping centers, while the Pilot-GM-EVgo network has reached 300 locations nationwide.
• Neutral Sentiment: Analyst sentiment is mixed. Cantor Fitzgerald lowered its price target from $4 to $3 but retained an “overweight” rating, implying substantial upside from recent levels. Needham reaffirmed its “hold” rating, signaling uncertainty about the pace of EVgo’s improvement.
• Negative Sentiment: Revenue and guidance disappointed. Total Q2 revenue was $82.65 million, down 15.7% year over year, despite growth in charging-network revenue. EVgo’s FY 2026 revenue outlook of $400 million-$430 million is below the approximately $433 million analyst consensus, weighing on near-term growth expectations. The quarterly loss also widened from $0.10 per share a year earlier. EVgo Reports Q2 Loss, Tops Revenue Estimates

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.