EVgo (NASDAQ:EVGO) Shares Down 4.4% - What's Next?

Key Points

• Shares fell 4.4% intraday to about $1.86 (low $1.84) on sharply reduced volume — ~1.47M shares traded, down ~65% versus the average.
• Analysts have cut price targets (e.g., Cantor, Stifel, RBC) but the consensus remains a "Moderate Buy" with a $5.58 average target.
• Fundamentals showed improvement as EVgo beat EPS estimates (‑$0.04 vs. ‑$0.14) and reported $118.47M in revenue, up 75.5% year‑over‑year, though FY EPS is still expected negative.

EVgo Inc. (NASDAQ:EVGO - Get Free Report)'s stock price dropped 4.4% during mid-day trading on Monday . The company traded as low as $1.84 and last traded at $1.8550. Approximately 1,465,991 shares traded hands during trading, a decline of 65% from the average daily volume of 4,208,726 shares. The stock had previously closed at $1.94.

Analysts Set New Price Targets

EVGO has been the topic of a number of analyst reports. Cantor Fitzgerald reduced their price target on EVgo from $7.00 to $6.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 4th. Stifel Nicolaus reduced their target price on EVgo from $7.50 to $7.00 and set a "buy" rating on the stock in a report on Wednesday, March 4th. Royal Bank Of Canada reduced their target price on EVgo from $7.00 to $4.50 and set an "outperform" rating on the stock in a report on Wednesday, March 4th. Benchmark reaffirmed a "buy" rating on shares of EVgo in a report on Monday, March 2nd. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of EVgo in a report on Thursday, January 22nd. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $5.58.

EVgo Stock Performance

The company has a market cap of $599.56 million, a price-to-earnings ratio of -5.98 and a beta of 2.80. The company has a fifty day moving average of $2.38 and a two-hundred day moving average of $3.13.

EVgo (NASDAQ:EVGO - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $118.47 million for the quarter. During the same quarter last year, the business posted ($0.11) earnings per share. The firm's quarterly revenue was up 75.5% compared to the same quarter last year. Equities analysts expect that EVgo Inc. will post -0.45 EPS for the current fiscal year.

Institutional Investors Weigh In On EVgo

Hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its position in EVgo by 14.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 37,603 shares of the company's stock worth $179,000 after purchasing an additional 4,732 shares during the last quarter. Advisors Asset Management Inc. raised its position in EVgo by 7.4% during the 4th quarter. Advisors Asset Management Inc. now owns 70,388 shares of the company's stock worth $205,000 after purchasing an additional 4,826 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in EVgo by 22.5% during the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 26,798 shares of the company's stock worth $78,000 after purchasing an additional 4,926 shares during the last quarter. Quarry LP raised its position 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 last quarter. Finally, DRW Securities LLC raised its position in EVgo by 19.2% during the 4th quarter. DRW Securities LLC now owns 39,655 shares of the company's stock worth $115,000 after purchasing an additional 6,389 shares during the last quarter. Institutional investors and hedge funds own 17.44% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.