Largo (NYSE:LGO) Stock Price Target Cut by HC Wainwright

Largo (NYSE:LGO) had its price target reduced by research analysts at HC Wainwright to $0.90 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright‘s price target indicates a potential upside of 174.89% from the stock’s previous close.

Several other equities analysts have also commented on LGO. Maxim Group initiated coverage on Largo in a report on Friday, July 24th. They set a “buy” rating and a $1.50 target price for the company. National Bank Financial set a $2.40 price target on Largo in a report on Tuesday, July 7th. Two research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $1.60.

Largo Stock Performance

Shares of NYSE LGO opened at $0.33 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 1.67 and a debt-to-equity ratio of 0.34. The firm’s 50-day moving average price is $0.55 and its two-hundred day moving average price is $0.94. Largo has a 52-week low of $0.31 and a 52-week high of $1.93. The stock has a market capitalization of $37.70 million, a P/E ratio of -0.41 and a beta of 1.50.

Institutional Trading of Largo

Several hedge funds have recently bought and sold shares of the company. Baader Bank Aktiengesellschaft acquired a new position in Largo during the 1st quarter valued at about $28,000. 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. Bank of America Corp DE increased its stake in shares of Largo by 19.6% in the first 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. Brooklands Fund Management Ltd increased its stake in shares of 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 purchasing an additional 655,119 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of 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 purchasing an additional 1,116,534 shares during the period. 64.08% of the stock is currently owned by institutional investors.

Largo Company Profile

Largo Inc is a vertically integrated vanadium materials company focused on the production and development of vanadium-based products. The company’s principal asset is the Maracás Menchen vanadium mine and processing facility in Bahia, Brazil, which produces vanadium pentoxide and other vanadium products for industrial and energy-storage applications.

Largo markets high-purity vanadium products, including its VPURE and VPURE+ vanadium pentoxide products, as well as ferrovanadium and related materials.