HC Wainwright Has Lowered Expectations for Largo (NYSE:LGO) Stock Price

Largo (NYSE:LGO) had its target price dropped by HC Wainwright from $4.40 to $4.20 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price indicates a potential upside of 104.88% from the stock’s previous close.

Largo Stock Performance

LGO opened at $2.05 on Thursday. Largo has a twelve month low of $1.38 and a twelve month high of $2.84. The firm has a market capitalization of $131.43 million, a PE ratio of -2.56 and a beta of 1.75. The company has a current ratio of 2.13, a quick ratio of 1.23 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average price is $2.00 and its 200 day moving average price is $1.92.

Institutional Trading of Largo

A hedge fund recently raised its stake in Largo stock. Renaissance Technologies LLC increased its position in shares of Largo Inc. (NYSE:LGO) by 19.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,900 shares of the company’s stock after purchasing an additional 7,300 shares during the period. Renaissance Technologies LLC owned 0.07% of Largo worth $81,000 at the end of the most recent quarter. Institutional investors and hedge funds own 64.08% of the company’s stock.

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.