Largo (NYSE:LGO) Stock Price Up 9.8% – Should You Buy?

Shares of Largo Inc. (NYSE:LGO) traded up 9.8% on Wednesday . The company traded as high as $1.4650 and last traded at $1.45. 1,357,083 shares were traded during mid-day trading, an increase of 59% from the average session volume of 856,199 shares. The stock had previously closed at $1.32.

Wall Street Analyst Weigh In

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

Largo Price Performance

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 company has a market capitalization of $121.33 million, a PE ratio of -1.81 and a beta of 1.51. The firm’s 50 day simple moving average is $1.05 and its 200 day simple moving average is $1.33.

Institutional Trading of Largo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Old West Investment Management LLC bought a new position in shares of Largo during the third quarter valued at approximately $562,000. EverSource Wealth Advisors LLC purchased a new position in Largo during the 3rd quarter valued at $190,000. Sprott Inc. boosted its holdings in Largo by 11.2% during the 3rd quarter. Sprott Inc. now owns 1,174,346 shares of the company’s stock valued at $1,762,000 after acquiring an additional 118,712 shares during the period. Citadel Advisors LLC grew its position in 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 acquiring an additional 105,974 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Largo by 65.0% in the third quarter. Russell Investments Group Ltd. now owns 207,974 shares of the company’s stock worth $311,000 after purchasing an additional 81,967 shares during the period. 64.08% of the stock is owned by hedge funds and other 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.