Largo Sees Unusually Large Options Volume (NYSE:LGO)

Largo Inc. (NYSE:LGO) was the recipient of some unusual options trading on Friday. Stock investors purchased 13,319 call options on the stock. This represents an increase of 1,239% compared to the typical daily volume of 995 call options.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reduced their price target on Largo from $3.10 to $2.80 and set a “buy” rating for the company in a research report on Monday. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Largo presently has an average rating of “Buy” and a consensus target price of $2.80.

Largo Stock Performance

Shares of NYSE LGO traded up $0.08 during mid-day trading on Friday, hitting $1.33. The company had a trading volume of 1,806,838 shares, compared to its average volume of 1,530,254. The company has a market capitalization of $129.51 million, a price-to-earnings ratio of -1.66 and a beta of 1.56. Largo has a 1 year low of $0.85 and a 1 year high of $2.70. The company has a current ratio of 1.67, a quick ratio of 0.81 and a debt-to-equity ratio of 0.34. The stock’s 50-day moving average price is $1.35 and its 200-day moving average price is $1.26.

Hedge Funds Weigh In On Largo

Several hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in Largo during the third quarter worth about $29,000. XTX Topco Ltd purchased a new position in Largo during the second quarter worth about $46,000. Banque Cantonale Vaudoise purchased a new position in Largo during the third quarter worth about $61,000. Banco BTG Pactual S.A. purchased a new position in Largo during the second quarter worth about $61,000. Finally, Quadrature Capital Ltd purchased a new position in Largo during the fourth quarter worth about $62,000. 64.08% of the stock is currently owned by hedge funds and other institutional investors.

Largo Company Profile

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.