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

EVgo Inc. (NASDAQ:EVGO) was 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. Approximately 2,015,777 shares traded hands during trading, a decline of 43% from the average daily volume of 3,545,203 shares. The stock had previously closed at $2.68.

A number of other equities analysts also recently issued reports on EVGO. UBS Group increased 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. Stifel Nicolaus lowered their target price on shares of EVgo from $7.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of EVgo in a research report on Thursday, January 22nd. Cantor Fitzgerald decreased their price target on EVgo from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Benchmark reaffirmed a “buy” rating on shares of EVgo in a research note on Monday. 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $5.27.

Key EVgo News

Here are the key news stories impacting EVgo this week:

• Positive Sentiment: Q4 beats: EVgo reported Q4 revenue of $118.5M (up 75% YoY) and EPS of ($0.04), beating consensus—driving an initial stock uptick after the results. Q4 press release
• Positive Sentiment: Network expansion: Management is accelerating NACS rollout and targeting 1,400–1,650 new stalls in 2026, signaling faster unit growth and network revenue scaling that supports longer‑term revenue visibility. Expansion article
• Positive Sentiment: Analyst support remains constructive: Cantor Fitzgerald and Stifel kept overweight/buy ratings despite trimming price targets, implying continued analyst conviction in upside potential (new PTs of $6.00 and $7.00 respectively). Analyst notes
• Neutral Sentiment: Coverage and summaries: Multiple outlets summarized the beat and call (earnings transcript, MarketBeat and Zacks coverage), providing detail for investors but no new catalysts beyond the results. Earnings summary
• Neutral Sentiment: Consensus rating: Brokerages show a consensus of “Moderate Buy,” reflecting mixed but generally positive sell‑side sentiment. Consensus note
• Neutral Sentiment: Short‑interest data reported appears inconsistent (zero shares / 0.0 days-to-cover) and likely reflects a data anomaly rather than a real short‑squeeze signal; treat with caution. (No reliable link available.)
• Negative Sentiment: FY‑2026 guidance disappointed vs. Street: EVgo guided revenue to $410–$470M versus consensus near ~$481M, and issued an adjusted EBITDA range that implies modest near‑term profitability risk—this trimmed some of the post‑earnings upside. Company presentation

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Quarry LP boosted its position in shares of EVgo by 145.0% in the fourth quarter. Quarry LP now owns 9,307 shares of the company’s stock worth $27,000 after acquiring an additional 5,508 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in EVgo during the fourth quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of EVgo by 4,903.0% in the 4th 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 during the last quarter. Ameriprise Financial Inc. purchased a new stake in shares of EVgo during the 3rd quarter valued at $49,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of EVgo during the 4th quarter worth $32,000. 17.44% of the stock is currently owned by institutional investors and hedge funds.

EVgo Stock Performance

The firm has a market capitalization of $760.71 million, a price-to-earnings ratio of -6.33 and a beta of 2.63. The business has a fifty day moving average price of $3.00 and a 200 day moving average price of $3.55.

EVgo (NASDAQ:EVGO) last posted 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 business had revenue of $118.47 million for the quarter. During the same period in the previous year, the business posted ($0.11) earnings per share. The business’s quarterly revenue was up 75.5% on a year-over-year basis. On average, analysts expect 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.