Allego (NYSE:ALLG – Get Rating) had its price target reduced by investment analysts at DA Davidson from $10.00 to $7.50 in a research note issued on Wednesday, The Fly reports. DA Davidson’s price objective would indicate a potential upside of 258.85% from the company’s previous close.
Allego Price Performance
ALLG stock opened at $2.09 on Wednesday. The company has a debt-to-equity ratio of 11.28, a quick ratio of 1.54 and a current ratio of 1.83. The firm has a 50 day simple moving average of $2.18 and a 200 day simple moving average of $3.12. Allego has a 52 week low of $1.85 and a 52 week high of $9.43.
Institutional Trading of Allego
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS Group AG acquired a new position in Allego in the 1st quarter valued at approximately $29,000. ExodusPoint Capital Management LP acquired a new position in Allego in the 4th quarter valued at approximately $42,000. MCF Advisors LLC raised its holdings in Allego by 182.3% in the 1st quarter. MCF Advisors LLC now owns 19,480 shares of the company’s stock valued at $47,000 after acquiring an additional 12,580 shares in the last quarter. Brinker Capital Investments LLC acquired a new position in Allego in the 4th quarter valued at approximately $50,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in Allego in the 3rd quarter valued at approximately $77,000. 34.24% of the stock is currently owned by institutional investors and hedge funds.
Allego N.V. operates as an electric vehicle (EV) charging company. The company offers charging solutions for electric cars, motors, buses, and trucks. It has a charging network with renewable energy and charging solutions for business-to-business customers, including leading retail and auto brands. The company has approximately 28,000 charging ports in Europe.
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