Largo Target of Unusually Large Options Trading (NYSE:LGO)

Largo Inc. (NYSE:LGO) saw some unusual options trading on Friday. Traders acquired 13,319 call options on the stock. This is an increase of approximately 1,239% compared to the average volume of 995 call options.

Analysts Set New Price Targets

Separately, HC Wainwright lowered their target price on Largo from $3.10 to $2.80 and set a “buy” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Largo currently has a consensus rating of “Buy” and a consensus target price of $2.80.

Hedge Funds Weigh In On Largo

Several large investors have recently added to or reduced their stakes in LGO. SG Americas Securities LLC purchased a new position in Largo during the third quarter worth about $29,000. XTX Topco Ltd purchased a new position in Largo during the second quarter worth about $46,000. Banco BTG Pactual S.A. purchased a new position in Largo during the second quarter worth about $61,000. Banque Cantonale Vaudoise purchased a new position in Largo during the third quarter worth about $61,000. Finally, Quadrature Capital Ltd purchased a new position in Largo during the fourth quarter worth about $62,000. 64.08% of the stock is currently owned by hedge funds and other institutional investors.

Largo Stock Up 3.2%

Shares of NYSE:LGO opened at $1.29 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.67 and a debt-to-equity ratio of 0.34. Largo has a 52-week low of $0.85 and a 52-week high of $2.70. The stock’s fifty day simple moving average is $1.34 and its 200-day simple moving average is $1.26. The company has a market capitalization of $126.08 million, a P/E ratio of -1.61 and a beta of 1.56.

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.