HC Wainwright Issues Pessimistic Estimate for Largo Earnings

Largo Inc. (NYSE:LGO) – Equities research analysts at HC Wainwright cut their FY2024 earnings per share estimates for Largo in a research note issued on Wednesday, November 13th. HC Wainwright analyst H. Ihle now anticipates that the company will post earnings per share of ($0.57) for the year, down from their previous forecast of ($0.44). HC Wainwright has a “Buy” rating and a $4.20 price objective on the stock. The consensus estimate for Largo’s current full-year earnings is ($0.57) per share.

Largo Stock Performance

Shares of LGO opened at $1.95 on Monday. The company has a market capitalization of $125.01 million, a PE ratio of -2.44 and a beta of 1.75. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.67 and a quick ratio of 1.23. Largo has a one year low of $1.38 and a one year high of $2.84. The company’s fifty day moving average price is $2.02 and its 200 day moving average price is $1.93.

Largo (NYSE:LGO) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.07). The company had revenue of $29.91 million during the quarter. Largo had a negative net margin of 35.10% and a negative return on equity of 22.61%. During the same quarter last year, the firm earned ($0.19) earnings per share.

Institutional Trading of Largo

Hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new position in Largo during the 3rd quarter valued at $32,000. Renaissance Technologies LLC increased its holdings in shares of Largo by 19.9% during the 2nd quarter. Renaissance Technologies LLC now owns 43,900 shares of the company’s stock worth $81,000 after purchasing an additional 7,300 shares during the period. Finally, Herr Investment Group LLC acquired a new position in shares of Largo during the second quarter valued at about $370,000. Institutional investors own 64.08% of the company’s stock.

Largo Company Profile

Largo Inc engages in the development and sale of vanadium-based energy storage systems in Canada. The company operates through, Sales & Trading, Mine Properties, Corporate, Exploration and Evaluation Properties, and Largo Clean Energy and Largo Physical Vanadium Segments. Its products include VPURE+ vanadium flakes that are used in the production of master alloys and aerospace applications; VPURE vanadium flakes ferrovanadium and vanadium carbon nitride for the steel industry; and VPURE+ vanadium powder for catalyst applications.