Largo (NYSE:LGO) Price Target Cut to $0.90 by Analysts at HC Wainwright

Largo (NYSE:LGO) had its target price lowered by HC Wainwright to $0.90 in a research report released on Wednesday morning, Marketbeat.com reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. National Bank Financial set a $2.40 price target on shares of Largo in a report on Tuesday, July 7th. Maxim Group assumed coverage on Largo in a report on Friday, July 24th. They issued a “buy” rating and a $1.50 price target for the company. Two investment analysts have rated the stock with a Buy rating. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $1.60.

Largo Trading Up 1.2%

Shares of Largo stock opened at $0.33 on Wednesday. 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 firm has a fifty day moving average price of $0.54 and a 200 day moving average price of $0.93. Largo has a 1 year low of $0.31 and a 1 year high of $1.93. The stock has a market cap of $38.16 million, a PE ratio of -0.41 and a beta of 1.50.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Baader Bank Aktiengesellschaft acquired a new stake in shares of Largo during the first quarter valued at about $28,000. Royal Bank of Canada raised its stake in shares of Largo by 3,192.4% in the 1st quarter. Royal Bank of Canada now owns 60,614 shares of the company’s stock valued at $68,000 after acquiring an additional 58,773 shares during the period. Bank of America Corp DE raised its stake in shares of Largo by 19.6% in the 1st quarter. Bank of America Corp DE now owns 497,135 shares of the company’s stock valued at $557,000 after acquiring an additional 81,550 shares during the period. Brooklands Fund Management Ltd lifted its holdings in shares of Largo by 623.9% in the 1st quarter. Brooklands Fund Management Ltd now owns 760,119 shares of the company’s stock worth $851,000 after acquiring an additional 655,119 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Largo by 631.6% in the 1st quarter. Renaissance Technologies LLC now owns 1,293,300 shares of the company’s stock worth $1,448,000 after acquiring an additional 1,116,534 shares during the last quarter. Institutional investors and hedge funds own 64.08% of the company’s stock.

About Largo

Largo Inc is a vertically integrated vanadium materials company focused on the production and development of vanadium-based products. The company’s principal asset is the Maracás Menchen vanadium mine and processing facility in Bahia, Brazil, which produces vanadium pentoxide and other vanadium products for industrial and energy-storage applications.

Largo markets high-purity vanadium products, including its VPURE and VPURE+ vanadium pentoxide products, as well as ferrovanadium and related materials.