Largo (NYSE:LGO) Price Target Cut to $4.60 by Analysts at HC Wainwright

Largo (NYSE:LGO) had its price objective cut by HC Wainwright from $9.00 to $4.60 in a report released on Monday morning, Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Largo’s FY2024 earnings at ($0.06) EPS.

Largo Trading Up 3.3 %

LGO stock opened at $1.56 on Monday. The company has a quick ratio of 1.62, a current ratio of 3.23 and a debt-to-equity ratio of 0.30. Largo has a twelve month low of $1.50 and a twelve month high of $5.44. The stock has a market capitalization of $99.92 million, a price-to-earnings ratio of -3.06 and a beta of 1.76. The firm’s fifty day simple moving average is $1.88 and its two-hundred day simple moving average is $2.25.

Institutional Trading of Largo

Large investors have recently made changes to their positions in the stock. Toronto Dominion Bank purchased a new stake in Largo in the third quarter worth about $36,000. Sprott Inc. purchased a new stake in shares of Largo during the third quarter valued at about $59,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Largo during the third quarter valued at about $99,000. Credit Suisse AG lifted its position in shares of Largo by 22.8% during the second quarter. Credit Suisse AG now owns 35,527 shares of the company’s stock valued at $242,000 after buying an additional 6,599 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Largo by 17.1% during the second quarter. Goldman Sachs Group Inc. now owns 33,064 shares of the company’s stock valued at $226,000 after buying an additional 4,837 shares during the last quarter. 64.08% of the stock is owned by hedge funds and other institutional investors.

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.