Largo (NYSE:LGO) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Largo (NYSE:LGO) in a research note released on Friday,Benzinga reports. The firm currently has a $4.20 price objective on the stock.

Largo Trading Up 1.8 %

Largo stock opened at $1.70 on Friday. 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 firm’s 50 day moving average price is $2.09 and its 200-day moving average price is $1.96. Largo has a 1 year low of $1.38 and a 1 year high of $2.84. The stock has a market cap of $108.99 million, a P/E ratio of -2.13 and a beta of 1.66.

Largo (NYSE:LGO) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.07). Largo had a negative net margin of 35.10% and a negative return on equity of 22.61%. The company had revenue of $29.91 million during the quarter. During the same quarter in the prior year, the company posted ($0.19) EPS. On average, equities analysts predict that Largo will post -0.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Largo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its stake in Largo by 19.9% in the 2nd quarter. Renaissance Technologies LLC now owns 43,900 shares of the company’s stock worth $81,000 after acquiring an additional 7,300 shares during the last quarter. Herr Investment Group LLC purchased a new position in shares of Largo in the second quarter valued at $370,000. Finally, XTX Topco Ltd bought a new stake in Largo in the third quarter worth $32,000. 64.08% of the stock is owned by institutional investors.

Largo Company Profile

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.