Largo (NYSE:LGO) Price Target Lowered to $3.70 at HC Wainwright

Largo (NYSE:LGO) had its price target decreased by research analysts at HC Wainwright from $4.20 to $3.70 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 88.78% from the company’s previous close.

Largo Stock Performance

Shares of LGO opened at $1.96 on Wednesday. The company has a market capitalization of $125.66 million, a PE ratio of -2.45 and a beta of 1.70. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.81 and a current ratio of 1.67. The company’s 50 day moving average price is $1.84 and its 200 day moving average price is $1.93. Largo has a 52 week low of $1.38 and a 52 week high of $2.84.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. XTX Topco Ltd acquired a new stake in shares of Largo during the 3rd quarter valued at about $32,000. Virtu Financial LLC bought a new position in Largo during the fourth quarter valued at approximately $39,000. Finally, Sprott Inc. lifted its stake in Largo by 156.8% in the fourth quarter. Sprott Inc. now owns 1,016,809 shares of the company’s stock valued at $1,749,000 after acquiring an additional 620,909 shares during the last quarter. Hedge funds and other institutional investors 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.