Allego N.V. Down 12.41% To $1.20 After Earnings

Allego N.V. (ALLG) said before open Tuesday that it lost $0.17 per share in quarter three 2023. The company reported $31.1 million in revenue

In the same quarter a year ago, the company earned $1.01 per share on revenue of $22.5 million.

The stock is down 12.41% to $1.20 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Allego N.V. has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 7, putting Allego N.V. in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $1.37 on November 13, 2023 and set a 52-week high on February 6, 2023 at $4.89.

Allego NV delivers charging solutions for electric cars, motors, buses, and trucks, for consumers, businesses, and cities.