Traders Buy High Volume of Largo Call Options (NYSE:LGO)

Largo Inc. (NYSE:LGO) was the recipient of unusually large options trading on Wednesday. Traders purchased 6,847 call options on the stock. This represents an increase of approximately 616% compared to the average volume of 956 call options.

Largo Trading Up 11.3%

LGO stock opened at $1.87 on Thursday. The company has a market capitalization of $156.47 million, a PE ratio of -2.34 and a beta of 1.52. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.81 and a current ratio of 1.67. Largo has a one year low of $0.85 and a one year high of $2.70. The company’s 50 day moving average price is $1.19 and its two-hundred day moving average price is $1.32.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. XTX Topco Ltd bought a new stake in shares of Largo in the 2nd quarter valued at about $46,000. Banco BTG Pactual S.A. purchased a new position in Largo in the 2nd quarter worth approximately $61,000. SG Americas Securities LLC purchased a new position in Largo in the 3rd quarter worth approximately $29,000. Old West Investment Management LLC bought a new stake in Largo in the third quarter valued at approximately $562,000. Finally, EverSource Wealth Advisors LLC purchased a new stake in shares of Largo during the third quarter valued at approximately $190,000. 64.08% of the stock is owned by institutional investors.

Largo Company Profile

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.