For Allego NV [ALLG], Analyst sees a rise to $10. What next?

Allego NV [NYSE: ALLG] gained 9.02% on the last trading session, reaching $1.45 price per share at the time. The company report on March 26, 2024 at 4:05 PM that Allego Schedules Conference Call to Discuss Fourth Quarter and Full Year 2023 Financial Results.

Allego N.V. (“Allego” or the “Company”) (NYSE: ALLG), a leading pan-European public electric vehicle fast and ultra-fast charging network, today announced it will release the Company’s fourth quarter and full year 2023 results on Tuesday, April 2, 2024, followed by a conference call at 8:30 AM ET.

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Participants may access the call at 1-877-407-9716, international callers may use 1-201-493-6779 and request to join the Allego earnings call. A live webcast will also be available at https://ir.allego.eu/events-publications.

If compared to the average trading volume of 239.33K shares, ALLG reached a trading volume of 9968424 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Allego NV [ALLG]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ALLG shares is $8.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ALLG stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Citigroup have made an estimate for Allego NV shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 08, 2022. While these analysts kept the previous recommendation, Cowen raised their target price to Outperform. The new note on the price target was released on April 11, 2022, representing the official price target for Allego NV stock.

The Average True Range (ATR) for Allego NV is set at 0.20, with the Price to Sales ratio for ALLG stock in the period of the last 12 months amounting to 2.32.

Trading performance analysis for ALLG stock

Allego NV [ALLG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 69.67. With this latest performance, ALLG shares gained by 45.00% in over the last four-week period, additionally sinking by -30.95% over the last 6 months – not to mention a drop of -34.09% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ALLG stock in for the last two-week period is set at 74.37, with the RSI for the last a single of trading hit 81.55, and the three-weeks RSI is set at 68.69 for Allego NV [ALLG]. The present Moving Average for the last 50 days of trading for this stock 0.9708, while it was recorded at 1.0619 for the last single week of trading, and 1.7359 for the last 200 days.

Allego NV [ALLG]: A deeper dive into fundamental analysis

Allego NV’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.85 and a Current Ratio set at 1.21.

Allego NV [ALLG]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Allego NV posted -0.16/share EPS, while the average EPS was predicted by analysts to be reported at -0.02/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -700.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ALLG.

An analysis of Institutional ownership at Allego NV [ALLG]

The top three institutional holders of ALLG stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ALLG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ALLG stock with ownership which is approximately 5.8325%.