EVgo (NASDAQ:EVGO) Sets New 52-Week Low - Should You Sell?

Key Points

• New 52-week low: EVgo fell to $2.05 (last $2.08) on Friday with about 3.96M shares traded, leaving a market cap near $640.6M and 50-/200-day moving averages of $2.89/$3.47, indicating a downward trend.
• Mixed fundamentals: The company beat quarterly EPS estimates (‑$0.04 vs. ‑$0.14) and reported revenue up 75.5% YoY to $118.47M, but analysts still forecast a full-year negative EPS (‑0.45) and the stock shows a negative P/E.
• Analyst and institutional views: Consensus is a Moderate Buy (8 Buys, 2 Holds, 1 Sell) with an average price target of $5.32 despite recent target cuts, while institutional investors—led by sizable increases from Millennium and AQR—have been adding to positions.

EVgo Inc. (NASDAQ:EVGO - Get Free Report) reached a new 52-week low during trading on Friday . The stock traded as low as $2.05 and last traded at $2.08, with a volume of 3963194 shares changing hands. The stock had previously closed at $2.10.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on EVGO shares. Cantor Fitzgerald reduced their target price on shares of EVgo from $7.00 to $6.00 and set an "overweight" rating for the company in a research note on Wednesday, March 4th. Weiss Ratings reiterated a "sell (d-)" rating on shares of EVgo in a report on Thursday, January 22nd. Benchmark reaffirmed a "buy" rating on shares of EVgo in a report on Monday, March 2nd. Stifel Nicolaus cut their price target on shares of EVgo from $7.50 to $7.00 and set a "buy" rating for the company in a report on Wednesday, March 4th. Finally, Royal Bank Of Canada reduced their target price on shares of EVgo from $7.00 to $4.50 and set an "outperform" rating for the company in a report on Wednesday, March 4th. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $5.32.

EVgo Price Performance

The stock has a market cap of $640.60 million, a price-to-earnings ratio of -6.50 and a beta of 2.63. The business has a fifty day moving average of $2.89 and a 200 day moving average of $3.47.

EVgo (NASDAQ:EVGO - Get Free Report) last posted its earnings results on Tuesday, March 3rd. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.10. The company had revenue of $118.47 million for the quarter. During the same quarter in the prior year, the business posted ($0.11) EPS. EVgo's quarterly revenue was up 75.5% on a year-over-year basis. On average, analysts expect that EVgo Inc. will post -0.45 EPS for the current year.

Institutional Trading of EVgo

Institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC grew its position in EVgo by 1,188.1% in the first quarter. AQR Capital Management LLC now owns 494,598 shares of the company's stock valued at $1,316,000 after acquiring an additional 456,201 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in EVgo by 31.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,339 shares of the company's stock worth $222,000 after purchasing an additional 19,883 shares during the last quarter. Millennium Management LLC lifted its holdings in 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 buying an additional 1,195,470 shares in the last quarter. Bank of Montreal Can bought a new position in EVgo in the 2nd quarter valued at $54,000. Finally, Los Angeles Capital Management LLC increased its stake in shares of EVgo by 31.7% in the 2nd quarter. Los Angeles Capital Management LLC now owns 45,370 shares of the company's stock valued at $166,000 after buying an additional 10,929 shares during the period. 17.44% of the stock is currently owned by institutional investors.

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.

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