Allego (NYSE:ALLG) Price Target Cut to $7.50

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.

About Allego

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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.