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

Largo (NYSE:LGO) had its price target decreased by HC Wainwright from $4.20 to $3.70 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 98.92% from the stock’s current price.

Largo Price Performance

Shares of LGO stock opened at $1.86 on Wednesday. The stock’s fifty day moving average is $1.83 and its 200-day moving average is $1.93. 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 stock has a market capitalization of $119.24 million, a PE ratio of -2.33 and a beta of 1.70. Largo has a 52 week low of $1.38 and a 52 week high of $2.84.

Largo (NYSE:LGO) last announced its 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). 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 previous year, the firm earned ($0.19) EPS. Equities research analysts expect that Largo will post -0.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Largo

Several hedge funds have recently added to or reduced their stakes in LGO. XTX Topco Ltd bought a new position in Largo in the third quarter valued at about $32,000. Sprott Inc. boosted its holdings 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. Finally, Virtu Financial LLC bought a new position in Largo in the fourth quarter valued at about $39,000. Institutional investors own 64.08% of the company’s stock.

Largo Company Profile

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.