Largo (NYSE:LGO) Price Target Raised to $4.70 at HC Wainwright

Largo (NYSE:LGO) had its price objective boosted by equities research analysts at HC Wainwright from $4.60 to $4.70 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 193.75% from the stock’s current price.

Largo Price Performance

Largo stock opened at $1.60 on Wednesday. Largo has a 52-week low of $1.38 and a 52-week high of $5.40. The firm has a market capitalization of $102.48 million, a price-to-earnings ratio of -3.14 and a beta of 1.74. The company has a fifty day simple moving average of $1.66 and a 200-day simple moving average of $2.01. The company has a quick ratio of 1.78, a current ratio of 3.23 and a debt-to-equity ratio of 0.30.

Largo (NYSE:LGO) last released its earnings results on Thursday, March 21st. The company reported ($0.21) earnings per share (EPS) for the quarter. The business had revenue of $44.17 million for the quarter. Largo had a negative return on equity of 12.02% and a negative net margin of 16.29%. On average, equities analysts anticipate that Largo will post -0.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Toronto Dominion Bank acquired a new position in shares of Largo during the 3rd quarter valued at about $36,000. Sprott Inc. acquired a new position in Largo in the third quarter valued at about $59,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Largo in the third quarter valued at about $99,000. Finally, Russell Investments Group Ltd. lifted its position in Largo by 32.8% in the fourth quarter. Russell Investments Group Ltd. now owns 90,890 shares of the company’s stock valued at $210,000 after buying an additional 22,437 shares during the last 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.