HC Wainwright Reiterates Buy Rating for Largo (NYSE:LGO)

HC Wainwright reaffirmed their buy rating on shares of Largo (NYSE:LGO) in a research report report published on Tuesday morning, Benzinga reports. They currently have a $4.40 target price on the stock.

Largo Trading Up 8.4 %

Largo stock opened at $2.07 on Tuesday. Largo has a 52 week low of $1.38 and a 52 week high of $2.63. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.23 and a current ratio of 2.13. The firm has a market capitalization of $132.71 million, a PE ratio of -2.49 and a beta of 1.80. The business’s 50-day simple moving average is $1.89 and its 200-day simple moving average is $1.84.

Largo (NYSE:LGO) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.23) EPS for the quarter. Largo had a negative return on equity of 21.87% and a negative net margin of 33.12%. The business had revenue of $28.56 million during the quarter. Equities research analysts forecast that Largo will post -0.44 earnings per share for the current year.

Institutional Trading of Largo

A hedge fund recently raised its stake in Largo stock. Renaissance Technologies LLC increased its position in shares of Largo Inc. (NYSE:LGO) by 19.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,900 shares of the company’s stock after buying an additional 7,300 shares during the quarter. Renaissance Technologies LLC owned 0.07% of Largo worth $81,000 at the end of the most recent quarter. 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.