Allego NV (NYSE: ALLG): It Is A Stock Worth Considering Today

In today’s recent session, 0.41 million shares of the Allego NV (NYSE:ALLG) have been traded, and its beta is 0.52. Most recently the company’s share price was $1.36, and it changed around -$0.17 or -11.10% from the last close, which brings the market valuation of the company to $363.39M. ALLG at last check was trading at a discount to its 52-week high of $3.88, offering almost -185.29% off that amount. The share price’s 52-week low was $0.57, which indicates that the recent value has risen by an impressive 58.09% since then. We note from Allego NV’s average daily trading volume that its 10-day average is 2.36 million shares, with the 3-month average coming to 432.89K.

Allego NV (NYSE:ALLG) trade information

Instantly ALLG has been showing red trend so far today with a performance of -11.10% on intraday trading today. The performance over the last five days has remained in the green territory. The company’s shares are currently up 0.75% year-to-date, but still up 63.87% over the last five days. On the other hand, Allego NV (NYSE:ALLG) is 37.38% up in the 30-day period. We can see from the shorts that 0.27 million shares have been sold at a short interest cover period of 4.64 day(s).

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Allego NV (ALLG) estimates and forecasts

Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 75.00% in revenue this quarter, and will report a decrease of -20.00% in the next quarter. The year-over-year growth rate is expected to be 38.50%, up from the previous year.

Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $83.79 million in revenue for the current quarter. 2 analysts expect Allego NV to make $68.99 million in revenue for the quarter ending Mar 2024. The company’s sales for the same quarters a year ago were $60.89 million and $38.8 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 37.60%. Forecasts for the next quarter put sales growth at 77.80%.

Allego NV (NYSE:ALLG)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 15.16% of Allego NV shares, and 81.91% of them are in the hands of institutional investors. The stock currently has a share float of 96.55%. Allego NV stock is held by 36 institutions, with Apollo Management Holdings, L.P. being the largest institutional investor. By Dec 30, 2023, it held 6.90% of the shares, which is about 18.71 million shares worth $24.52 million.

First Trust Advisors LP, with 0.50% or 1.35 million shares worth $1.78 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

First Trust Nasdaq (R) Clean Edge (R) Green Energy Index Fund and Tidal Tr II-Carbon Collective Climate Solutions U.S. Equity ETF were the top two Mutual Funds as of Jan 30, 2024. The former held 1.25 million shares worth $1.65 million, making up 0.46% of all outstanding shares. On the other hand, Tidal Tr II-Carbon Collective Climate Solutions U.S. Equity ETF held roughly 7258.0 shares worth around $9515.0, which represents about 0.00% of the total shares outstanding.