Stock Traders Buy Large Volume of Largo Put Options (NYSE:LGO)

Largo Inc. (NYSE:LGO) was the target of some unusual options trading activity on Monday. Stock investors bought 2,990 put options on the stock. This is an increase of approximately 200% compared to the average daily volume of 996 put options.

Largo Stock Performance

Shares of LGO stock opened at $1.08 on Tuesday. The firm has a market capitalization of $100.45 million, a price-to-earnings ratio of -1.35 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. The business’s 50-day moving average price is $1.40 and its 200-day moving average price is $1.31. Largo has a 12 month low of $0.85 and a 12 month high of $2.70.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Largo

Several hedge funds have recently added to or reduced their stakes in LGO. Quadrature Capital Ltd bought a new stake in Largo during the 4th quarter worth approximately $62,000. Brooklands Fund Management Ltd bought a new position in shares of Largo during the fourth quarter valued at $99,000. Marshall Wace LLP raised its stake in shares of Largo by 952.2% during the fourth quarter. Marshall Wace LLP now owns 918,075 shares of the company’s stock valued at $863,000 after acquiring an additional 830,824 shares during the last quarter. Citadel Advisors LLC lifted its holdings in shares of Largo by 84.2% during the third 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 period. Finally, Virtu Financial LLC acquired a new position in shares of Largo during the third quarter worth $116,000. 64.08% of the stock is currently owned by institutional investors and hedge funds.

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.