Largo (NYSE:LGO) Given New $3.70 Price Target at HC Wainwright

Largo (NYSE:LGO) had its price target reduced by investment analysts at HC Wainwright from $4.20 to $3.70 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price points to a potential upside of 88.78% from the company’s current price.

Largo Price Performance

NYSE LGO opened at $1.96 on Wednesday. The stock has a market capitalization of $125.66 million, a P/E ratio of -2.45 and a beta of 1.70. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.81 and a current ratio of 1.67. The business’s fifty day moving average is $1.84 and its two-hundred day moving average is $1.93. Largo has a 1 year low of $1.38 and a 1 year high of $2.84.

Largo (NYSE:LGO) last announced its earnings results on Tuesday, November 12th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.07). The company had revenue of $29.91 million for the quarter. Largo had a negative net margin of 35.10% and a negative return on equity of 22.61%. During the same period last year, the company posted ($0.19) earnings per share. On average, research analysts forecast that Largo will post -0.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in shares of Largo in the 4th quarter valued at approximately $39,000. Sprott Inc. raised its stake in Largo by 156.8% during the 4th quarter. Sprott Inc. now owns 1,016,809 shares of the company’s stock valued at $1,749,000 after purchasing an additional 620,909 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of Largo in the third quarter valued at $32,000. 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.