EVgo (NASDAQ:EVGO) Stock Moved Down to Hold by UBS Group

Posted by Brenda Bartman on Nov 4th, 2026

UBS Group cut shares of EVgo (NASDAQ:EVGO – Free Report) from a strong-buy rating to a hold rating in a research note published on Tuesday,Zacks reports.

Several other research firms also recently issued reports on EVGO. Evercore reiterated an “outperform” rating and set a $2.50 price target on shares of EVgo in a research note on Monday, September 21st. JPMorgan Chase & Co. downgraded EVgo from a “neutral” rating to an “underweight” rating in a research note on Tuesday, July 21st. Needham & Company LLC restated a “hold” rating on shares of EVgo in a report on Wednesday, August 5th. Morgan Stanley set a $2.50 target price on EVgo in a research report on Thursday, August 6th. Finally, Cantor Fitzgerald cut EVgo from an “overweight” rating to a “hold” rating and decreased their target price for the stock from $3.00 to $2.00 in a research report on Tuesday. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, EVgo currently has an average rating of “Hold” and a consensus price target of $2.79.

Get Our Latest Stock Report on EVgo

EVgo Trading Down 1.1%

EVgo stock opened at $1.83 on Tuesday. The company has a debt-to-equity ratio of 5.39, a current ratio of 2.19 and a quick ratio of 2.19. The company has a market capitalization of $575.57 million, a price-to-earnings ratio of -4.57 and a beta of 2.87. EVgo has a one year low of $0.98 and a one year high of $3.92. The company’s fifty day moving average price is $1.32 and its two-hundred day moving average price is $1.92.

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

Institutional Investors Weigh In On EVgo

Hedge funds have recently bought and sold shares of the company. State Street Corp increased its stake in shares of EVgo by 1.3% in 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. Renaissance Technologies LLC lifted its position in shares of EVgo by 31.8% during the 1st quarter. Renaissance Technologies LLC now owns 1,192,933 shares of the company’s stock worth $2,052,000 after purchasing an additional 288,100 shares during the last quarter. Lazard Asset Management LLC boosted its stake in EVgo by 89.4% during the 1st quarter. Lazard Asset Management LLC now owns 652,657 shares of the company’s stock valued at $1,123,000 after purchasing an additional 307,984 shares during the period. J. Derek Lewis & Associates Inc. boosted its stake in EVgo by 1,127.7% during the 3rd quarter. J. Derek Lewis & Associates Inc. now owns 515,625 shares of the company’s stock valued at $687,000 after purchasing an additional 473,625 shares during the period. Finally, Tidal Investments LLC boosted its stake in EVgo by 2,675.5% during the 2nd quarter. Tidal Investments LLC now owns 331,891 shares of the company’s stock valued at $634,000 after purchasing an additional 319,933 shares during the period. 17.44% of the stock is currently owned by institutional investors.

Trending Headlines about EVgo

Here are the key news stories impacting EVgo this week:

Positive Sentiment: Majority shareholder LS Power proposed acquiring the shares of EVgo it does not already own for $2 per share in cash. That is about 9% above the $1.83 reference price, and the proposal previously sparked a sharp rally in EVGO shares. EVgo confirms receipt of take-private proposal
Neutral Sentiment: The proposal is unsolicited and non-binding, and LS Power already controls about 56% of EVgo’s combined voting power. The $2 offer is therefore a potential catalyst, not a completed transaction or guaranteed sale.
Negative Sentiment: Cantor Fitzgerald cut EVgo to Neutral from Overweight and lowered its price target to $2 from $3, leaving limited indicated upside to the offer price. UBS Group also downgraded the stock to Hold from Strong Buy, adding to near-term caution. Cantor Fitzgerald downgrade

EVgo Company Profile

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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.