Largo (NYSE:LGO) Shares Down 5.1% – Here’s What Happened

Largo Inc. (NYSE:LGO) shares dropped 5.1% on Monday . The stock traded as low as $1.67 and last traded at $1.68. Approximately 48,918 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 81,574 shares. The stock had previously closed at $1.77.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and issued a $4.20 price target on shares of Largo in a report on Friday, December 20th.

Largo Trading Down 5.1 %

The company has a debt-to-equity ratio of 0.34, a current ratio of 1.67 and a quick ratio of 0.81. The stock’s fifty day simple moving average is $1.96 and its 200-day simple moving average is $1.94. The firm has a market cap of $107.71 million, a PE ratio of -2.10 and a beta of 1.69.

Largo (NYSE:LGO) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.07). Largo had a negative return on equity of 22.61% and a negative net margin of 35.10%. The firm had revenue of $29.91 million for the quarter. During the same quarter in the previous year, the business earned ($0.19) earnings per share. On average, sell-side analysts forecast that Largo Inc. will post -0.57 earnings per share for the current year.

Institutional Trading of Largo

Several large investors have recently bought and sold shares of LGO. XTX Topco Ltd acquired a new stake in shares of Largo during the 3rd quarter worth about $32,000. Renaissance Technologies LLC raised its stake in shares of Largo by 19.9% in the 2nd quarter. Renaissance Technologies LLC now owns 43,900 shares of the company’s stock valued at $81,000 after acquiring an additional 7,300 shares during the period. Finally, Herr Investment Group LLC acquired a new position in shares of Largo in the 2nd quarter worth approximately $370,000. Hedge funds and other institutional investors own 64.08% of the company’s stock.

About Largo

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.