HC Wainwright Trims Largo (NYSE:LGO) Target Price to $4.40

Largo (NYSE:LGO) had its price target decreased by HC Wainwright from $4.70 to $4.40 in a research report released on Tuesday, Benzinga reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for Largo’s FY2024 earnings at ($0.44) EPS.

Largo Price Performance

Shares of LGO opened at $1.68 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.58 and a quick ratio of 1.50. Largo has a 1-year low of $1.38 and a 1-year high of $3.73. The stock has a market cap of $107.64 million, a PE ratio of -2.43 and a beta of 1.80. The firm has a fifty day moving average price of $1.91 and a 200 day moving average price of $1.81.

Largo (NYSE:LGO) last posted its earnings results on Wednesday, May 15th. The company reported ($0.20) EPS for the quarter. The firm had revenue of $42.19 million for the quarter. Largo had a negative return on equity of 17.01% and a negative net margin of 24.05%. As a group, sell-side analysts anticipate that Largo will post -0.22 EPS for the current year.

Hedge Funds Weigh In On Largo

A number of institutional investors have recently modified their holdings of LGO. Renaissance Technologies LLC boosted its stake in Largo by 19.9% during the 2nd quarter. Renaissance Technologies LLC now owns 43,900 shares of the company’s stock worth $81,000 after purchasing an additional 7,300 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Largo by 32.8% in the fourth quarter. Russell Investments Group Ltd. now owns 90,890 shares of the company’s stock valued at $210,000 after buying an additional 22,437 shares during the last quarter. Finally, Herr Investment Group LLC acquired a new stake in shares of Largo during the second quarter worth about $370,000. 64.08% of the stock is owned by institutional investors and hedge funds.

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.