Largo (NYSE:LGO) Trading Down 5.1% – Here’s What Happened

Largo Inc. (NYSE:LGO)’s stock price fell 5.1% on Monday . The stock traded as low as $1.67 and last traded at $1.68. 48,918 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 81,574 shares. The stock had previously closed at $1.77.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and set a $4.20 price target on shares of Largo in a research report on Friday, December 20th.

Largo Price Performance

The business has a fifty day moving average of $1.95 and a 200 day moving average of $1.94. The firm has a market cap of $110.44 million, a P/E ratio of -2.15 and a beta of 1.69. The company has a quick ratio of 0.81, a current ratio of 1.67 and a debt-to-equity ratio of 0.34.

Largo (NYSE:LGO) last posted its earnings results on Tuesday, November 12th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.07). Largo had a negative return on equity of 22.61% and a negative net margin of 35.10%. The business had revenue of $29.91 million for the quarter. During the same quarter in the previous year, the firm earned ($0.19) earnings per share. On average, sell-side analysts anticipate that Largo Inc. will post -0.57 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Herr Investment Group LLC acquired a new position in shares of Largo in the second quarter valued at approximately $370,000. Renaissance Technologies LLC grew its holdings in Largo by 19.9% in the 2nd quarter. Renaissance Technologies LLC now owns 43,900 shares of the company’s stock valued at $81,000 after buying an additional 7,300 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in Largo during the 3rd quarter worth $32,000. 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.