HC Wainwright Cuts Largo (NYSE:LGO) Price Target to $4.70

Largo (NYSE:LGO) had its price objective decreased by HC Wainwright from $4.80 to $4.70 in a report issued on Thursday morning, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Largo Price Performance

Shares of Largo stock opened at $2.05 on Thursday. The firm has a market capitalization of $131.35 million, a PE ratio of -2.97 and a beta of 1.80. The company has a current ratio of 2.58, a quick ratio of 1.50 and a debt-to-equity ratio of 0.30. Largo has a 12 month low of $1.38 and a 12 month high of $4.76. The business’s 50-day moving average price is $1.90 and its 200-day moving average price is $1.85.

Largo (NYSE:LGO) last issued its earnings results on Wednesday, May 15th. The company reported ($0.20) earnings per share (EPS) for the quarter. The firm had revenue of $42.19 million during the quarter. Largo had a negative return on equity of 17.01% and a negative net margin of 24.05%. Sell-side analysts forecast that Largo will post -0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Largo

A hedge fund recently raised its stake in Largo stock. Russell Investments Group Ltd. grew its stake in shares of Largo Inc. (NYSE:LGO) by 32.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 90,890 shares of the company’s stock after buying an additional 22,437 shares during the quarter. Russell Investments Group Ltd. owned 0.14% of Largo worth $210,000 at the end of the most recent quarter. 64.08% of the stock is owned by hedge funds and other institutional investors.

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.