Largo Inc. (NYSE:LGO – Get Free Report) rose 0.5% on Thursday . The stock traded as high as $1.89 and last traded at $1.84. Approximately 18,929 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 60,486 shares. The stock had previously closed at $1.83.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright increased their target price on shares of Largo from $4.70 to $4.80 and gave the company a “buy” rating in a research note on Friday, May 17th.
View Our Latest Stock Analysis on LGO
Largo Trading Up 0.5 %
Largo (NYSE:LGO – Get Free Report) last posted its quarterly earnings results on Wednesday, May 15th. The company reported ($0.20) earnings per share (EPS) for the quarter. Largo had a negative return on equity of 17.01% and a negative net margin of 24.05%. The business had revenue of $42.19 million during the quarter. On average, sell-side analysts predict that Largo Inc. will post -0.22 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Toronto Dominion Bank acquired a new position in Largo in the third quarter worth about $36,000. Sprott Inc. acquired a new stake in shares of Largo during the third quarter worth approximately $59,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Largo by 32.8% during the fourth quarter. Russell Investments Group Ltd. now owns 90,890 shares of the company’s stock worth $210,000 after buying an additional 22,437 shares in the last quarter. Institutional investors and hedge funds own 64.08% of the company’s stock.
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.
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