Largo (NYSE:LGO) Price Target Lowered to $3.70 at HC Wainwright

Largo (NYSE:LGO) had its target price trimmed by HC Wainwright from $4.20 to $3.70 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Largo Stock Performance

LGO stock opened at $1.81 on Wednesday. The business’s fifty day moving average is $1.82 and its 200-day moving average is $1.93. The company has a quick ratio of 0.81, a current ratio of 1.67 and a debt-to-equity ratio of 0.34. The company has a market cap of $116.04 million, a P/E ratio of -2.26 and a beta of 1.70. Largo has a twelve month low of $1.38 and a twelve month high of $2.84.

Largo (NYSE:LGO) last released its 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). The firm had revenue of $29.91 million for the quarter. Largo had a negative return on equity of 22.61% and a negative net margin of 35.10%. During the same period in the previous year, the business posted ($0.19) EPS. Equities research analysts forecast that Largo will post -0.57 EPS for the current year.

Institutional Investors Weigh In On Largo

Hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd acquired a new stake in Largo during the third quarter worth approximately $32,000. Virtu Financial LLC acquired a new stake in shares of Largo in the fourth quarter valued at approximately $39,000. Finally, Sprott Inc. raised its position in shares of Largo by 156.8% in the fourth quarter. Sprott Inc. now owns 1,016,809 shares of the company’s stock valued at $1,749,000 after buying an additional 620,909 shares in the last quarter. 64.08% of the stock is currently owned by institutional investors and hedge funds.

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.