BUZZ — Gross profit miss weighs on Fastned shares

* Shares in Fastned fall 8.3% after the Dutch charge point operator reported its third quarter results * ING deems the report "mixed, but slightly disappointing" * While Fastned beat estimates on revenue line, the broker notes that organic growth versus the BEV fleet and gross profit per kWh were softer than hoped, alongside slower station openings * Fastned's Q3 gross profit rose 44% year-on-year to €37 million, which Degroof Petercam says was "slightly" below consensus * Van Lanschot Kempen N.V. analyst Jeremy Kincaid points out gross margin per kWh dropped from €0.60 to €0.55 this quarter * ING's forecast on the gross profit per kWh was €0.60 * Charging revenue was €51.3 million, up 63%, missing ING's estimates by 4% * The stock is on track for its worst day since May 2023, with today's slump reducing YTD gains to 89% (Reporting by Margaux Perrin in Gdansk) ((Margaux.Perrin@thomsonreuters.com)