HC Wainwright Lowers Largo (NYSE:LGO) Price Target to $3.70

Largo (NYSE:LGO) had its price target lowered by research analysts at HC Wainwright from $3.90 to $3.70 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective would suggest a potential upside of 166.19% from the stock’s previous close.

Largo Trading Down 7.6%

Shares of LGO opened at $1.39 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.81 and a current ratio of 1.67. Largo has a 52-week low of $1.12 and a 52-week high of $2.84. The firm has a market cap of $89.12 million, a price-to-earnings ratio of -1.74 and a beta of 1.62. The business’s fifty day moving average is $1.59 and its 200-day moving average is $1.81.

Hedge Funds Weigh In On Largo

A number of institutional investors have recently added to or reduced their stakes in LGO. Virtu Financial LLC acquired a new stake in Largo in the fourth quarter valued at approximately $39,000. Millennium Management LLC bought a new position in shares of Largo in the 4th quarter valued at $74,000. Baader Bank Aktiengesellschaft acquired a new stake in shares of Largo during the 1st quarter valued at $77,000. Sprott Inc. grew its position in Largo by 5.4% during the 1st quarter. Sprott Inc. now owns 1,072,056 shares of the company’s stock worth $1,726,000 after acquiring an additional 55,247 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Largo by 75.9% in the 1st quarter. Russell Investments Group Ltd. now owns 288,860 shares of the company’s stock worth $466,000 after purchasing an additional 124,604 shares in the last quarter. 64.08% of the stock is currently 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.