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

Largo (NYSE:LGO) had its target price dropped by research analysts at HC Wainwright from $3.70 to $2.90 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 180.19% from the stock’s current price.

Largo Stock Performance

Shares of LGO traded down $0.07 during mid-day trading on Thursday, reaching $1.04. The company’s stock had a trading volume of 213,599 shares, compared to its average volume of 462,308. The company has a current ratio of 1.67, a quick ratio of 0.81 and a debt-to-equity ratio of 0.34. Largo has a 1-year low of $1.03 and a 1-year high of $2.70. The business has a 50-day simple moving average of $1.52 and a two-hundred day simple moving average of $1.43. The stock has a market cap of $86.23 million, a P/E ratio of -1.31 and a beta of 1.50.

Institutional Trading of Largo

A number of institutional investors and hedge funds have recently made changes to their positions in LGO. SG Americas Securities LLC acquired a new position in shares of Largo during the third quarter worth $29,000. XTX Topco Ltd acquired a new stake in shares of Largo during the 2nd quarter valued at $46,000. Banque Cantonale Vaudoise bought a new stake in Largo during the 3rd quarter worth $61,000. Banco BTG Pactual S.A. bought a new stake in Largo during the 2nd quarter worth $61,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in Largo in the 1st quarter worth about $77,000. 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.