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

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

Largo Stock Down 2.7 %

Shares of Largo stock opened at $1.81 on Wednesday. The company has a market capitalization of $116.04 million, a PE ratio of -2.26 and a beta of 1.70. Largo has a 1-year low of $1.38 and a 1-year high of $2.84. The business has a 50-day moving average of $1.82 and a 200-day moving average of $1.93. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.67 and a quick ratio of 0.81.

Largo (NYSE:LGO) last released its quarterly earnings results 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). Largo had a negative net margin of 35.10% and a negative return on equity of 22.61%. The business had revenue of $29.91 million for the quarter. During the same quarter in the previous year, the business posted ($0.19) earnings per share. As a group, equities analysts forecast that Largo will post -0.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd purchased a new position in Largo in the third quarter valued at about $32,000. Virtu Financial LLC acquired a new position in Largo in the 4th quarter valued at approximately $39,000. Finally, Sprott Inc. raised its holdings in Largo by 156.8% in the 4th quarter. Sprott Inc. now owns 1,016,809 shares of the company’s stock valued at $1,749,000 after acquiring an additional 620,909 shares in the last quarter. Hedge funds and other 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.