EVgo (NASDAQ:EVGO) Stock Rating Cut to Neutral at Cantor Fitzgerald

Posted by on Nov 3rd, 2026

EVgo (NASDAQ:EVGO – Get Free Report) was downgraded by analysts at Cantor Fitzgerald from an “overweight” rating to a “neutral” rating in a research report issued on Tuesday, Benzinga reports. They presently have a $2.00 target price on the stock, down from their prior target price of $3.00. Cantor Fitzgerald‘s target price would suggest a potential upside of 8.11% from the company’s previous close.

Several other brokerages have also recently commented on EVGO. Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a report on Wednesday, August 5th. Morgan Stanley set a $2.50 price target on shares of EVgo in a report on Thursday, August 6th. Roth Capital set a $2.00 price target on shares of EVgo in a report on Monday, August 10th. Royal Bank Of Canada dropped their price target on shares of EVgo from $3.00 to $2.50 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. Finally, JPMorgan Chase & Co. lowered shares of EVgo from a “neutral” rating to an “underweight” rating in a research note on Tuesday, July 21st. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, EVgo presently has an average rating of “Hold” and an average target price of $2.79.

Read Our Latest Analysis on EVgo

EVgo Stock Up 46.8%

Shares of NASDAQ:EVGO opened at $1.85 on Tuesday. The firm has a market cap of $581.85 million, a P/E ratio of -4.62 and a beta of 2.87. EVgo has a 12-month low of $0.98 and a 12-month high of $4.11. The business has a fifty day simple moving average of $1.31 and a 200 day simple moving average of $1.93. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 5.39.

EVgo (NASDAQ:EVGO – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.03. The company had revenue of $82.65 million during the quarter. The company’s revenue was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.10) EPS. Analysts predict that EVgo will post -0.50 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp grew its stake in EVgo by 1.3% during the second quarter. State Street Corp now owns 6,371,895 shares of the company’s stock worth $12,170,000 after purchasing an additional 80,946 shares during the period. Tidal Investments LLC increased its holdings in EVgo by 2,675.5% in the second quarter. Tidal Investments LLC now owns 331,891 shares of the company’s stock worth $634,000 after purchasing an additional 319,933 shares in the last quarter. Squarepoint Ops LLC acquired a new position in EVgo in the second quarter valued at approximately $149,000. Kintra Wealth LLC acquired a new position in EVgo in the second quarter valued at approximately $25,000. Finally, J. Derek Lewis & Associates Inc. lifted its stake in EVgo by 59.3% in the first quarter. J. Derek Lewis & Associates Inc. now owns 43,000 shares of the company’s stock valued at $74,000 after buying an additional 16,000 shares during the period. 17.44% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting EVgo

Here are the key news stories impacting EVgo this week:

  • Positive Sentiment: Take-private proposal establishes a near-term valuation reference. LS Power Equity Advisors and affiliates, which control approximately 56% of EVgo’s combined voting power, offered to acquire all Class A shares they do not already own for $2.00 each. The cash bid represents a substantial premium to EVgo’s pre-announcement trading level and has lifted investor expectations for a potential transaction. EVgo Confirms Receipt of Unsolicited and Non-Binding Take Private Proposal
  • Positive Sentiment: Analyst sentiment improved. JPMorgan upgraded EVgo from Underweight to Neutral, potentially reducing selling pressure and adding support to the stock’s recovery. Unusually heavy call-option activity also indicated increased speculative interest ahead of the proposal and the company’s quarterly report. JPMorgan Upgrades EVgo to Neutral From Underweight
  • Neutral Sentiment: Upcoming earnings remain an important test. Investors are watching whether EVgo’s charging-business performance can offset a possible guidance reduction and continuing earnings pressure. Analysts were expecting a decline in earnings ahead of the report. EVgo’s Q3 Report Tests Whether A Strong Charging Business Can Offset A Guidance Cut
  • Negative Sentiment: The offer is not yet a completed deal. EVgo described LS Power’s bid as unsolicited and non-binding. The board must evaluate the proposal, and the $2.00 price may limit further upside unless LS Power improves its terms or a competing bidder emerges. EVgo Acknowledges Receipt of Take Private Proposal

About EVgo

(Get Free Report)

EVgo, Inc (NASDAQ: EVGO) operates a public electric vehicle charging network in the United States. The company develops, owns and operates fast-charging stations designed primarily for passenger vehicles, providing drivers with access to charging at shopping centers, grocery stores, retail locations, workplaces and other convenient destinations.

EVgo’s services include on-demand charging through its network and mobile app, as well as features such as payment processing, station availability information and vehicle-to-charger connectivity.

Read More

Analyst Recommendations for EVgo (NASDAQ:EVGO)

Receive News & Ratings for EVgo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EVgo and related companies with MarketBeat.com's FREE daily email newsletter.