Largo (NYSE:LGO) Receives Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Largo (NYSE:LGO) in a research note published on Friday,Benzinga reports. They currently have a $4.20 target price on the stock.

Largo Stock Performance

Shares of LGO stock opened at $1.70 on Friday. The company has a current ratio of 1.67, a quick ratio of 0.81 and a debt-to-equity ratio of 0.34. The company has a market cap of $108.99 million, a PE ratio of -2.13 and a beta of 1.66. Largo has a 12-month low of $1.38 and a 12-month high of $2.84. The business’s fifty day simple moving average is $2.09 and its 200-day simple moving average is $1.96.

Largo (NYSE:LGO) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate 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 during the quarter. During the same quarter in the prior year, the business earned ($0.19) earnings per share. Analysts expect that Largo will post -0.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Largo

A number of institutional investors have recently added to or reduced their stakes in LGO. Renaissance Technologies LLC boosted its stake in shares of Largo by 19.9% in the second quarter. Renaissance Technologies LLC now owns 43,900 shares of the company’s stock worth $81,000 after acquiring an additional 7,300 shares during the last quarter. Herr Investment Group LLC purchased a new position in shares of Largo during the 2nd quarter worth $370,000. Finally, XTX Topco Ltd acquired a new position in shares of Largo during the 3rd quarter valued at about $32,000. Institutional investors and hedge funds 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.