Investors Purchase Large Volume of Largo Put Options (NYSE:LGO)

Largo Inc. (NYSE:LGO) saw unusually large options trading activity on Monday. Traders purchased 2,990 put options on the company. This represents an increase of 200% compared to the typical daily volume of 996 put options.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Sprott Inc. increased its holdings in shares of Largo by 11.2% during the 3rd quarter. Sprott Inc. now owns 1,174,346 shares of the company’s stock worth $1,762,000 after purchasing an additional 118,712 shares during the period. Marshall Wace LLP boosted its position in shares of Largo by 952.2% during the fourth quarter. Marshall Wace LLP now owns 918,075 shares of the company’s stock worth $863,000 after buying an additional 830,824 shares during the period. Old West Investment Management LLC bought a new position in Largo in the third quarter valued at approximately $562,000. Citadel Advisors LLC increased its stake in shares of Largo by 84.2% during the 3rd quarter. Citadel Advisors LLC now owns 231,860 shares of the company’s stock worth $348,000 after purchasing an additional 105,974 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Largo by 65.0% during the third quarter. Russell Investments Group Ltd. now owns 207,974 shares of the company’s stock worth $311,000 after purchasing an additional 81,967 shares during the period. 64.08% of the stock is owned by hedge funds and other institutional investors.

Largo Price Performance

LGO stock traded down $0.01 during trading on Monday, hitting $1.11. The company had a trading volume of 230,452 shares, compared to its average volume of 1,646,252. The business has a 50 day moving average of $1.41 and a 200 day moving average of $1.32. The firm has a market capitalization of $102.78 million, a price-to-earnings ratio of -1.38 and a beta of 1.45. The company has a current ratio of 1.67, a quick ratio of 0.81 and a debt-to-equity ratio of 0.34. Largo has a fifty-two week low of $0.85 and a fifty-two week high of $2.70.

Wall Street Analyst Weigh In

Separately, HC Wainwright raised their target price on shares of Largo from $2.90 to $3.10 and gave the stock a “buy” rating in a report on Wednesday, January 14th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $3.10.

About Largo

Largo Inc (NYSE:LGO) is a diversified resources and digital asset company that provides investors with exposure to both critical battery metals and bitcoin through publicly traded vehicles. The combined platform integrates specialty metals operations with a physical bitcoin trust, reflecting the company’s strategy to offer participation in traditional commodities and emerging digital assets.

The metals division focuses on the production and sale of high-purity nickel and cobalt sulfate used in electric vehicle batteries and energy storage systems.