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

EVgo Inc. (NASDAQ:EVGO) shares fell 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.

Other research analysts have also recently issued research reports about the stock. UBS Group lifted their price target on shares of EVgo from $5.40 to $5.90 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Stifel Nicolaus decreased their target price on EVgo from $7.50 to $7.00 and set a “buy” rating on the stock in a report on Wednesday. Benchmark reiterated a “buy” rating on shares of EVgo in a research report on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of EVgo in a research report on Thursday, January 22nd. Finally, Cantor Fitzgerald decreased their price objective on EVgo from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Wednesday. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $5.27.

Key EVgo News

Here are the key news stories impacting EVgo this week:

• Positive Sentiment: Q4 results beat estimates: EVgo reported a narrower-than-expected loss and revenue jumped ~75% year-over-year, helped by an ancillary contract payment and charging-network growth — a key fundamental driver supporting the stock. EVgo Q4 Loss Narrower Than Expected, Revenues Increase Y/Y
• Positive Sentiment: Company says it has “surged to profitability” by siting chargers where usage is strong — management messaging and operational progress can support longer-term margin improvement and investor confidence. EVgo surges to profitability by putting chargers ‘where people are,’ CEO says
• Positive Sentiment: Network expansion acceleration: EVgo is targeting 1,400–1,650 new stalls in 2026 and accelerating NACS rollout — growth cadence that could materially increase revenue per stall over time. Evgo targets 1,400–1,650 new stalls in 2026
• Neutral Sentiment: Broker consensus remains generally constructive (consensus “Moderate Buy”), which offsets some negative reactions but leaves valuation and timing questions open. EVgo Given Consensus Rating of “Moderate Buy”
• Neutral Sentiment: Short-interest note in the data feed shows a large reported change but the entry contains zero shares/NaN and is likely a reporting/data error — not a confirmed driver of today’s move.
• Negative Sentiment: Analyst price-target trims: Several firms lowered targets (RBC to $4.50, Cantor Fitzgerald to $6.00, Stifel to $7.00) even while keeping positive ratings — the downgrades of upside targets likely contributed to selling pressure despite constructive ratings. Benzinga Stifel PT Lowered to $7
• Negative Sentiment: Market reaction / profit-taking: several outlets note the stock dipped despite the strong quarter, suggesting short-term traders are locking in gains and pushing the price below key moving averages. EVgo Stock Dips Despite Historic Profit

Hedge Funds Weigh In On EVgo

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP boosted its holdings in shares of EVgo by 145.0% during 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 last quarter. Kestra Advisory Services LLC bought a new stake in shares of EVgo in the 4th quarter worth about $27,000. Caitong International Asset Management Co. Ltd lifted its stake in 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 worth $29,000 after purchasing an additional 9,659 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of EVgo during the 4th quarter worth approximately $32,000. Finally, Fullerton Advisors LLC bought a new stake in shares of EVgo during the fourth quarter worth $36,000. Institutional investors own 17.44% of the company’s stock.

EVgo Trading Down 9.1%

The company has a market capitalization of $705.27 million, a PE ratio of -7.16 and a beta of 2.63. The firm’s 50-day simple moving average is $2.97 and its 200-day simple moving average is $3.54.

EVgo (NASDAQ:EVGO) last released its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.10. The firm had revenue of $118.47 million for the quarter. During the same quarter in the prior year, the firm earned ($0.11) EPS. The firm’s revenue for the quarter was up 75.5% compared to the same quarter last year. As a group, analysts anticipate that EVgo Inc. will post -0.45 EPS 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.