Largo (NYSE:LGO) Price Target Raised to $3.90

Largo (NYSE:LGO) had its target price hoisted by equities researchers at HC Wainwright from $3.70 to $3.90 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 142.24% from the company’s previous close.

Largo Price Performance

LGO opened at $1.61 on Tuesday. The stock’s 50-day moving average price is $1.81 and its 200 day moving average price is $1.91. Largo has a 12-month low of $1.38 and a 12-month high of $2.84. The firm has a market cap of $103.22 million, a price-to-earnings ratio of -2.01 and a beta of 1.69. The company has a current ratio of 1.67, a quick ratio of 0.81 and a debt-to-equity ratio of 0.34.

Institutional Trading of Largo

Several hedge funds have recently modified their holdings of LGO. Millennium Management LLC purchased a new position in Largo in the fourth quarter worth approximately $74,000. Virtu Financial LLC acquired a new stake in shares of Largo in the 4th quarter valued at $39,000. Sprott Inc. raised its holdings in shares of 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 purchasing an additional 620,909 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Largo during the 3rd quarter worth $32,000. 64.08% of the stock is currently owned by institutional investors and hedge funds.

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.