Largo (NYSE:LGO) Stock Price Down 0.5% – Here’s Why

Largo Inc. (NYSE:LGO)’s share price traded down 0.5% during trading on Friday . The company traded as low as $0.9685 and last traded at $1.01. 845,505 shares traded hands during trading, a decline of 43% from the average session volume of 1,483,182 shares. The stock had previously closed at $1.0150.

Analyst Upgrades and Downgrades

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

Largo Price Performance

The company has a debt-to-equity ratio of 0.34, a current ratio of 1.67 and a quick ratio of 0.81. The stock has a market cap of $98.72 million, a price-to-earnings ratio of -1.26 and a beta of 1.52. The stock has a fifty day moving average of $1.24 and a 200 day moving average of $1.21.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC lifted its holdings in Largo by 631.6% in the first quarter. Renaissance Technologies LLC now owns 1,293,300 shares of the company’s stock valued at $1,448,000 after acquiring an additional 1,116,534 shares during the period. Sprott Inc. lifted its holdings in Largo by 11.2% in the third quarter. Sprott Inc. now owns 1,174,346 shares of the company’s stock valued at $1,762,000 after acquiring an additional 118,712 shares during the period. Marshall Wace LLP lifted its holdings in Largo by 952.2% in the fourth quarter. Marshall Wace LLP now owns 918,075 shares of the company’s stock valued at $863,000 after acquiring an additional 830,824 shares during the period. Brooklands Fund Management Ltd lifted its holdings in Largo by 623.9% in the first quarter. Brooklands Fund Management Ltd now owns 760,119 shares of the company’s stock valued at $851,000 after acquiring an additional 655,119 shares during the period. Finally, Old West Investment Management LLC acquired a new position in Largo in the third quarter valued at approximately $562,000. 64.08% of the stock is owned by institutional investors and hedge funds.

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.