EVgo
EVGO Small CapConsumer Cyclical · Specialty Retail
Updated: Jul 6, 2026, 22:20 UTC
Price Chart
Key Metrics
Valuation Analysis
About the Company
EVgo, Inc. owns and operates a direct current fast charging network for electric vehicles in the United States. It offers electricity directly to drivers; original equipment manufacturer charging and related services; and commercial charging. The company also provides ancillary services, such as customization of digital applications, charging data integration, access to chargers behind parking lot or garage pay gates, microtargeted advertising, and charging reservations; and hardware, design, and construction services for charging sites, as well as ongoing operations, maintenance, and networking and software integration solutions through eXtend. In addition, it offers PlugShare, such as data, research, and advertising services and equipment procurement and operational services. The company
EVgo Stock at a Glance
EVgo (EVGO) is currently trading at $1.96 with a market capitalization of $615.2M. The 52-week range spans from $1.64 to $5.18; the current price is 62.2% below the yearly high. Year-over-year revenue growth stands at +45.5%.
💰 Dividend
EVgo currently does not pay a dividend. The company typically reinvests its earnings into growth initiatives and product development.
📊 Analyst Rating
8 analysts rate EVgo (EVGO) on consensus: None. The average price target is $4.25, implying +116.84% from the current price. Analyst price targets range from $3.00 to $7.00.
EVgo: The Investment Case in Detail
EVgo (EVGO) operates in the Consumer Cyclical — specifically Specialty Retail — and is headquartered in United States. Below is a structured read of the investment case built directly from the latest fundamentals, valuation multiples, analyst positioning and smart-money flows. Each section translates raw numbers into the investment logic they imply, so you can decide whether the risk/reward fits your portfolio.
The Bull Case
Top-line momentum is unusually strong with revenue expanding 45.5% year-over-year, a pace that puts the company well above the market average and signals genuine demand traction rather than mere cyclical tailwind.
The Bear Case
Net margins remain negative, meaning every euro of revenue is still producing losses — the path to profitability is the central question for shareholders. With a beta near 2.78, the share price moves sharply more than the broader market — drawdowns in market corrections can be unusually severe and require strong nerves. Short interest sits at 34.79% of float — a meaningful contingent of professionals is positioned for the share to fall, which deserves attention even if their thesis may turn out to be wrong.
What to Watch Next
- The price sits in the lower quartile of the 52-week range — value hunters often start scaling in around this zone if fundamentals hold.
- The analyst consensus price target implies 116.84% upside — if the next two quarters confirm the underlying thesis, target hikes typically follow.
Investment Thesis: Strengths & Weaknesses
- Strong revenue growth of 45.5% YoY
- –Currently unprofitable
- –High volatility (Beta 2.78)
- –High short interest (34.79%)
- –Negative free cash flow
Technical Snapshot
Price is below both the 50- and 200-day moving averages, with 50d below 200d — a bearish picture (death-cross alignment).
Risk Profile
The data points to above-average price swings, elevated short interest (34.79%).
Trading Data
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EVgo (EVGO) 2026: 1,90 USD US EV-Fast-Charging Network Operator Speculative-Cyclical with GM-Partnership, DOE Loan-Guarantee and IRA-Rollback Tail-Risk
The Real Story
EVgo Inc. (NASDAQ: EVGO) operates one of the largest US public DC-fast-charging networks for electric vehicles with approximately 1.000 charging-station-sites and 4.000+ individual charging-stalls primarily in major-US-metropolitan areas. Customer-base includes EV-drivers (direct-payment), automotive-OEMs (GM partnership, Toyota, Subaru), and rideshare-and-fleet customers. Lead growth-driver is GM partnership-launched 2020 expanding charging-network deployment at GM-dealer-and-retail-locations.
The 2024-2025 period: massive cash-burn approximately 200 million USD annually, dependent on DOE loan-guarantee (1,25 billion USD secured 2024), GM partnership-funding, and continued capital-raise. Forward-P/E negative (-5,8x), P/B negative (-2,2x) reflecting accumulated losses.
What Smart Money Thinks
EVgo has structurally-controlled register. LS Power Equity Partners (sponsor-shareholder via SPAC-merger) holds approximately 19 percent. BlackRock at approximately 8,4 percent, Vanguard at approximately 6,2 percent. Short-interest sits at approximately 19 percent of float as of May 2026 reflecting structural-skepticism.
Explore the BMI Smart-Money Tracker →
📈 The 3 Real Bull Points
DOE Title 17 Clean Energy Financing Program 1,25 billion USD loan-guarantee secured 2024 funds EVgo expansion-runway through 2027-2028. The federal-policy validation reduces capital-raise dilution-risk through medium-term.
EVgo-GM partnership has expanded charging-deployment at GM-retail-and-dealer-locations. Combined with Toyota, Subaru, plus rideshare-and-fleet customers creates structurally-deep customer-base.
As US EV-fleet grows from approximately 4 million in 2025 to 25-40 million by 2030, EVgo's charging-network throughput-pricing power emerges. Plug-in volume could grow approximately 30-40 percent annually through 2028.
📉 The 3 Real Bear Points
Trump-2 IRA-rollback risk on EV-tax-credits and clean-energy-incentives compresses US EV-adoption trajectory plus EVgo's specific tax-credit-economics on charging-deployment. Severe rollback could compress EVgo demand-and-charge-economics 25-40 percent.
EVgo has negative book-value from accumulated losses. Continued 200 million USD annual cash-burn requires perpetual capital-raise creating significant share-dilution at low share-prices.
Tesla Supercharger NACS-standard adoption by all major-OEMs (Ford, GM, Hyundai, etc.) intensifies competition. ChargePoint, Blink Charging, Electrify America compete for premium-station-locations.
Valuation in Context
EVgo at 1,90 USD per share with approximately 313,6 million shares outstanding has a market capitalization of approximately 596 million USD. With approximately 350 million USD net-debt (excluding DOE loan-facility), enterprise value approximately 945 million USD against trailing-twelve-month revenue approximately 280 million USD.
Risk-adjusted-DCF on EV-fleet growth scenario supports 2,80-4,50 USD fair-value range if IRA-trajectory persists. Bear-case (IRA-rollback, capital-raise dilution) 0,80-1,20 USD. Bull-case (EV-acceleration, no IRA-rollback) 5-7 USD over 24-36 months.
🗓️ Next 3 Catalyst Dates
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2026 Q3:
Q2 2026 earnings (early August 2026). Watch-items: charging-throughput growth, GM-partnership-deployment-update, IRA-policy-update.
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2027 Q1:
Fiscal-2026 full-year results plus fiscal-2027 guidance.
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2027 H2:
EV-fleet inflection and EVgo cash-burn-reduction milestones.
💬 Daniel's Take
EVgo is a speculative-cyclical US EV-fast-charging-network with GM-partnership, DOE loan-guarantee, IRA-rollback tail-risk and continued capital-burn dilution overhang. Position-sizing: 0,1–0,4 percent in deep-speculative sleeve only for binary-outcome tolerance.
Sources (3)
Disclaimer: This article is not investment advice. Investing in stocks carries risks, including total loss.
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