HC Wainwright Has Lowered Expectations for Largo (NYSE:LGO) Stock Price

Largo (NYSE:LGO) had its target price cut by investment analysts at HC Wainwright from $4.20 to $3.70 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 98.92% from the company’s current price.

Largo Trading Up 1.1 %

NYSE:LGO opened at $1.86 on Wednesday. Largo has a 1-year low of $1.38 and a 1-year high of $2.84. The business’s 50-day moving average price is $1.83 and its two-hundred day moving average price is $1.93. 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 firm has a market capitalization of $119.24 million, a price-to-earnings ratio of -2.33 and a beta of 1.70.

Largo (NYSE:LGO) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.07). The business had revenue of $29.91 million for the quarter. Largo had a negative return on equity of 22.61% and a negative net margin of 35.10%. During the same quarter in the prior year, the company posted ($0.19) earnings per share. On average, equities analysts expect that Largo will post -0.57 earnings per share for the current year.

Institutional Investors Weigh In On Largo

Hedge funds have recently modified their holdings of the business. XTX Topco Ltd acquired a new stake in shares of Largo during the third quarter worth about $32,000. Virtu Financial LLC acquired a new stake in shares of Largo during the fourth quarter worth about $39,000. Finally, Sprott Inc. raised its position in shares of Largo by 156.8% during the fourth quarter. Sprott Inc. now owns 1,016,809 shares of the company’s stock worth $1,749,000 after purchasing an additional 620,909 shares during the period. Institutional investors and hedge funds 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.