HC Wainwright Issues Positive Forecast for Largo (NYSE:LGO) Stock Price

Largo (NYSE:LGO) had its target price boosted by research analysts at HC Wainwright from $3.70 to $3.90 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 142.24% from the company’s previous close.

Largo Price Performance

Shares of NYSE:LGO opened at $1.61 on Tuesday. Largo has a 12 month low of $1.38 and a 12 month high of $2.84. The firm has a market capitalization of $103.22 million, a P/E ratio of -2.01 and a beta of 1.69. 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 company’s fifty day moving average price is $1.81 and its 200 day moving average price is $1.91.

Hedge Funds Weigh In On Largo

A number of institutional investors have recently modified their holdings of the business. XTX Topco Ltd purchased a new position in Largo during the 3rd quarter worth $32,000. Virtu Financial LLC purchased a new stake in shares of Largo in the fourth quarter valued at about $39,000. Millennium Management LLC acquired a new stake in shares of Largo during the fourth quarter worth about $74,000. Finally, Sprott Inc. grew its holdings in shares of Largo by 156.8% during the fourth quarter. Sprott Inc. now owns 1,016,809 shares of the company’s stock worth $1,749,000 after buying an additional 620,909 shares during the last quarter. 64.08% of the stock is owned by institutional investors and hedge funds.

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.