HC Wainwright Reaffirms “Buy” Rating for Largo (NYSE:LGO)

HC Wainwright reaffirmed their buy rating on shares of Largo (NYSE:LGO) in a research note released on Friday morning,Benzinga reports. They currently have a $4.20 price objective on the stock.

Largo Trading Up 1.8 %

Largo stock opened at $1.70 on Friday. Largo has a 52 week low of $1.38 and a 52 week high of $2.84. The stock has a 50-day moving average price of $2.09 and a 200 day moving average price of $1.96. The stock has a market cap of $108.99 million, a PE ratio of -2.13 and a beta of 1.66. The company has a current ratio of 1.67, a quick ratio of 0.81 and a debt-to-equity ratio of 0.34.

Largo (NYSE:LGO) last issued its 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 return on equity of 22.61% and a negative net margin of 35.10%. The firm had revenue of $29.91 million for the quarter. During the same period in the prior year, the firm earned ($0.19) EPS. Equities research analysts predict that Largo will post -0.57 earnings per share for the current fiscal year.

Institutional Trading of Largo

A number of hedge funds and other institutional investors have recently made changes to their positions in LGO. XTX Topco Ltd acquired a new position in shares of Largo in the 3rd quarter valued at $32,000. 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 valued at $81,000 after buying an additional 7,300 shares during the period. Finally, Herr Investment Group LLC purchased a new position in shares of Largo during the 2nd quarter valued at $370,000. 64.08% of the stock is currently owned by institutional investors.

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.