Traders Purchase Large Volume of Largo Put Options (NYSE:LGO)

Largo Inc. (NYSE:LGO) was the recipient of unusually large options trading on Monday. Stock traders bought 2,990 put options on the stock. This represents an increase of approximately 200% compared to the average volume of 996 put options.

Analysts Set New Price Targets

Separately, HC Wainwright increased their target price on Largo from $2.90 to $3.10 and gave the company a “buy” rating in a report on Wednesday, January 14th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $3.10.

Hedge Funds Weigh In On Largo

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in Largo in the 3rd quarter valued at about $29,000. XTX Topco Ltd acquired a new stake in Largo during the 2nd quarter valued at $46,000. Banco BTG Pactual S.A. purchased a new stake in Largo during the 2nd quarter worth $61,000. Banque Cantonale Vaudoise acquired a new position in Largo in the 3rd quarter worth $61,000. Finally, Quadrature Capital Ltd purchased a new position in Largo in the 4th quarter valued at about $62,000. Hedge funds and other institutional investors own 64.08% of the company’s stock.

Largo Price Performance

Shares of NYSE:LGO traded down $0.01 during midday trading on Monday, hitting $1.11. The company’s stock had a trading volume of 230,452 shares, compared to its average volume of 1,646,252. 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 business’s 50 day simple moving average is $1.41 and its 200 day simple moving average is $1.32. Largo has a 12-month low of $0.85 and a 12-month high of $2.70. The company has a market cap of $102.78 million, a P/E ratio of -1.38 and a beta of 1.45.

About Largo

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.