Largo (NYSE:LGO) Stock Price Up 2.9% – Here’s What Happened

Largo Inc. (NYSE:LGO) shares shot up 2.9% during trading on Tuesday . The company traded as high as $1.06 and last traded at $1.06. 201,100 shares traded hands during trading, a decline of 57% from the average session volume of 466,134 shares. The stock had previously closed at $1.03.

Analysts Set New Price Targets

Separately, HC Wainwright cut their target price on shares of Largo from $3.70 to $2.90 and set a “buy” rating for the company in a research note on Thursday, November 13th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $2.90.

Largo Trading Up 2.9%

The business has a 50 day simple moving average of $1.24 and a two-hundred day simple moving average of $1.37. 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 $88.31 million, a PE ratio of -1.33 and a beta of 1.51.

Institutional Trading of Largo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LGO. Russell Investments Group Ltd. boosted its position in shares of Largo by 75.9% in the first quarter. Russell Investments Group Ltd. now owns 288,860 shares of the company’s stock worth $466,000 after acquiring an additional 124,604 shares during the last quarter. Sprott Inc. raised its stake in Largo by 5.4% during the first quarter. Sprott Inc. now owns 1,072,056 shares of the company’s stock worth $1,726,000 after purchasing an additional 55,247 shares during the period. Citadel Advisors LLC boosted its holdings in shares of Largo by 84.2% in the 3rd quarter. Citadel Advisors LLC now owns 231,860 shares of the company’s stock valued at $348,000 after purchasing an additional 105,974 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Largo during the 3rd quarter valued at $116,000. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Largo during the 3rd quarter worth $61,000. Hedge funds and other institutional investors 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.