HC Wainwright Reiterates Buy Rating for Largo (NYSE:LGO)

Largo (NYSE:LGO)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $4.40 target price on the stock. HC Wainwright’s price objective points to a potential upside of 132.80% from the company’s current price.

Largo Stock Down 0.5 %

Shares of LGO opened at $1.89 on Tuesday. The firm has a 50 day simple moving average of $1.87 and a two-hundred day simple moving average of $1.84. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.13 and a quick ratio of 1.23. Largo has a one year low of $1.38 and a one year high of $2.66. The company has a market cap of $121.10 million, a P/E ratio of -2.74 and a beta of 1.80.

Largo (NYSE:LGO) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.23) EPS for the quarter. The business had revenue of $28.56 million for the quarter. Largo had a negative return on equity of 21.87% and a negative net margin of 33.12%. Research analysts forecast that Largo will post -0.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Largo

A hedge fund recently raised its stake in Largo stock. Renaissance Technologies LLC grew its stake in shares of Largo Inc. (NYSE:LGO) by 19.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 43,900 shares of the company’s stock after buying an additional 7,300 shares during the quarter. Renaissance Technologies LLC owned approximately 0.07% of Largo worth $81,000 as of its most recent SEC filing. 64.08% of the stock is owned by hedge funds and other institutional investors.

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.