Largo (NYSE:LGO – Free Report) had its price objective lowered by HC Wainwright from $3.70 to $2.90 in a research report report published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.
Largo Price Performance
Shares of NYSE LGO opened at $0.95 on Thursday. Largo has a twelve month low of $0.94 and a twelve month high of $2.70. The company has a quick ratio of 0.81, a current ratio of 1.67 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $78.94 million, a P/E ratio of -1.18 and a beta of 1.50. The stock’s 50-day simple moving average is $1.50 and its two-hundred day simple moving average is $1.43.
Institutional Investors Weigh In On Largo
A number of hedge funds have recently made changes to their positions in LGO. Baader Bank Aktiengesellschaft acquired a new position in Largo in the 1st quarter valued at about $77,000. Russell Investments Group Ltd. boosted its holdings in shares of Largo by 75.9% during the first quarter. Russell Investments Group Ltd. now owns 288,860 shares of the company’s stock worth $466,000 after purchasing an additional 124,604 shares during the last quarter. Sprott Inc. raised its holdings in Largo by 5.4% in the first quarter. Sprott Inc. now owns 1,072,056 shares of the company’s stock valued at $1,726,000 after buying an additional 55,247 shares during the period. Virtu Financial LLC acquired a new position in Largo in the 3rd quarter worth $116,000. Finally, Banque Cantonale Vaudoise bought a new stake in Largo during the third quarter valued at $61,000. 64.08% of the stock is currently 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.
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