Investment analysts at Citigroup initiated coverage on shares of Allego (NYSE:ALLG – Get Rating) in a research note issued on Thursday, Briefing.com reports. The firm set a “buy” rating and a $10.00 price target on the stock. Citigroup’s price objective would suggest a potential upside of 133.64% from the company’s current price.
Separately, Capital One Financial lowered shares of Allego from an “overweight” rating to an “equal weight” rating in a research report on Friday, May 13th.
Allego Stock Performance
NYSE ALLG traded up $0.33 during trading hours on Thursday, reaching $4.28. 907 shares of the company were exchanged, compared to its average volume of 826,319. Allego has a 1 year low of $3.35 and a 1 year high of $28.44. The firm has a 50 day simple moving average of $4.12. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.71 and a current ratio of 0.85.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. ECP ControlCo LLC bought a new stake in shares of Allego during the 1st quarter valued at $15,120,000. Russell Investments Group Ltd. bought a new stake in shares of Allego during the 2nd quarter valued at $198,000. Arena Capital Advisors LLC CA bought a new stake in shares of Allego during the 1st quarter valued at $499,000. Millennium Management LLC bought a new stake in shares of Allego during the 2nd quarter valued at $126,000. Finally, Bank of America Corp DE bought a new stake in shares of Allego during the 1st quarter valued at $186,000. 33.16% of the stock is owned by hedge funds and other institutional investors.
Allego Company Profile
Ad Wealthy Millionaire
A Potential Fintech Unicorn
This stock weathered the digital currency downturn and still has huge potential.
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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