Largo (NYSE:LGO) Stock Price Up 3.7% – What’s Next?

Shares of Largo Inc. (NYSE:LGO) rose 3.7% during mid-day trading on Monday . The company traded as high as $0.70 and last traded at $0.6638. Approximately 838,265 shares were traded during trading, a decline of 36% from the average session volume of 1,299,653 shares. The stock had previously closed at $0.6402.

Analysts Set New Price Targets

Separately, HC Wainwright dropped their price objective on Largo from $3.10 to $2.80 and set a “buy” rating on the stock in a research note on Monday, April 20th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $2.80.

Largo Trading Up 17.0%

The company has a market capitalization of $74.89 million, a price-to-earnings ratio of -0.93 and a beta of 1.43. The business has a fifty day moving average price of $0.96 and a 200 day moving average price of $1.17. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.67 and a quick ratio of 0.81.

Hedge Funds Weigh In On Largo

A number of institutional investors and hedge funds have recently bought and sold shares of LGO. Bank of America Corp DE boosted its holdings in Largo by 19.6% in the 1st quarter. Bank of America Corp DE now owns 497,135 shares of the company’s stock valued at $557,000 after purchasing an additional 81,550 shares during the period. Royal Bank of Canada grew its position in Largo by 3,192.4% in the 1st quarter. Royal Bank of Canada now owns 60,614 shares of the company’s stock worth $68,000 after purchasing an additional 58,773 shares during the last quarter. Renaissance Technologies LLC grew its position in Largo by 631.6% in the 1st quarter. Renaissance Technologies LLC now owns 1,293,300 shares of the company’s stock worth $1,448,000 after purchasing an additional 1,116,534 shares during the last quarter. Brooklands Fund Management Ltd increased its holdings in shares of Largo by 623.9% during the 1st quarter. Brooklands Fund Management Ltd now owns 760,119 shares of the company’s stock worth $851,000 after purchasing an additional 655,119 shares during the period. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of Largo during the 1st quarter worth about $28,000. Institutional investors own 64.08% of the company’s stock.

Largo Company Profile

Largo Inc (NYSE:LGO) is a diversified resources and digital asset company that provides investors with exposure to both critical battery metals and bitcoin through publicly traded vehicles. The combined platform integrates specialty metals operations with a physical bitcoin trust, reflecting the company’s strategy to offer participation in traditional commodities and emerging digital assets.

The metals division focuses on the production and sale of high-purity nickel and cobalt sulfate used in electric vehicle batteries and energy storage systems.