Traders Purchase High Volume of Call Options on Largo (NYSE:LGO)

Largo Inc. (NYSE:LGO) saw unusually large options trading on Wednesday. Traders bought 6,847 call options on the company. This is an increase of approximately 616% compared to the typical daily volume of 956 call options.

Institutional Trading of Largo

Institutional investors and hedge funds have recently bought and sold shares of the stock. Old West Investment Management LLC acquired a new position in shares of Largo in the third quarter worth about $562,000. Banque Cantonale Vaudoise purchased a new stake in shares of Largo in the 3rd quarter valued at approximately $61,000. Russell Investments Group Ltd. boosted its stake in Largo by 65.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 207,974 shares of the company’s stock worth $311,000 after purchasing an additional 81,967 shares during the period. Citadel Advisors LLC raised its stake in Largo by 84.2% during the 3rd quarter. Citadel Advisors LLC now owns 231,860 shares of the company’s stock valued at $348,000 after purchasing an additional 105,974 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of Largo in the second quarter valued at $46,000. Institutional investors and hedge funds own 64.08% of the company’s stock.

Analyst Ratings Changes

Separately, HC Wainwright lifted their target price on Largo from $2.90 to $3.10 and gave the stock a “buy” rating in a report on Wednesday, January 14th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $3.10.

Largo Price Performance

Shares of NYSE:LGO traded up $0.17 on Wednesday, reaching $1.85. 5,267,200 shares of the company traded hands, compared to its average volume of 1,567,870. The stock has a market capitalization of $154.38 million, a PE ratio of -2.31 and a beta of 1.52. 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 50 day moving average is $1.17 and its 200-day moving average is $1.32. Largo has a fifty-two week low of $0.85 and a fifty-two week high of $2.70.

About Largo

Largo Inc (NYSE:LGO) is a diversified resources and digital asset company that provides investors with exposure to both critical battery metals and bitcoin through publicly traded vehicles. The combined platform integrates specialty metals operations with a physical bitcoin trust, reflecting the company’s strategy to offer participation in traditional commodities and emerging digital assets.

The metals division focuses on the production and sale of high-purity nickel and cobalt sulfate used in electric vehicle batteries and energy storage systems.