Allego (NYSE:ALLG – Get Rating) was the recipient of a large growth in short interest during the month of December. As of December 30th, there was short interest totalling 611,100 shares, a growth of 12.4% from the December 15th total of 543,600 shares. Based on an average daily volume of 169,600 shares, the short-interest ratio is presently 3.6 days. Approximately 0.3% of the shares of the stock are sold short.
Institutional Investors Weigh In On Allego
A number of institutional investors have recently bought and sold shares of the stock. UBS Group AG acquired a new stake in Allego during the first quarter worth about $29,000. ExodusPoint Capital Management LP acquired a new position in shares of Allego during the second quarter worth about $54,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Allego during the third quarter worth about $77,000. Brave Asset Management Inc. purchased a new stake in shares of Allego in the fourth quarter worth about $78,000. Finally, Penserra Capital Management LLC acquired a new stake in shares of Allego in the first quarter valued at about $105,000. 34.24% of the stock is currently owned by hedge funds and other institutional investors.
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Allego Stock Down 2.4 %
ALLG traded down $0.10 during midday trading on Monday, hitting $3.99. The company's stock had a trading volume of 63,775 shares, compared to its average volume of 72,391. Allego has a 52-week low of $2.33 and a 52-week high of $28.44. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 2.59. The firm has a 50-day moving average price of $3.37 and a two-hundred day moving average price of $3.89.
Analyst Ratings Changes
ALLG has been the topic of several recent research reports. Credit Suisse Group initiated coverage on Allego in a research report on Friday, September 30th. They issued an "outperform" rating and a $10.00 price objective on the stock. Cowen lowered their price target on shares of Allego from $10.00 to $4.00 in a report on Tuesday, November 15th. Finally, Cowen reduced their price objective on shares of Allego from $10.00 to $4.00 in a research note on Tuesday, November 15th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $7.00.
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.
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