ECP ControlCo LLC Acquires New Holdings in Allego (NYSE:ALLG)

ECP ControlCo LLC acquired a new stake in Allego (NYSE:ALLGGet Rating) in the 1st quarter, Holdings Channel.com reports. The fund acquired 1,000,000 shares of the company’s stock, valued at approximately $15,120,000. Allego accounts for 2.8% of ECP ControlCo LLC’s holdings, making the stock its 5th biggest holding.

Separately, Penserra Capital Management LLC acquired a new position in shares of Allego in the 1st quarter valued at approximately $105,000. Hedge funds and other institutional investors own 33.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ALLG shares. Capital One Financial lowered Allego from an “overweight” rating to an “equal weight” rating in a research report on Friday, May 13th. Citigroup began coverage on Allego in a research report on Thursday. They set a “buy” rating and a $10.00 price target for the company.

Allego Stock Up 2.1 %

NYSE:ALLG opened at $4.42 on Friday. Allego has a twelve month low of $3.35 and a twelve month high of $28.44. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.85 and a quick ratio of 0.71. The business’s 50 day moving average price is $4.10.

Allego Company Profile

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Allego (NYSE:ALLG)

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