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

Shares of Largo Inc. (NYSE:LGO) were down 5.1% during mid-day trading on Monday . The company traded as low as $1.67 and last traded at $1.68. Approximately 48,918 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 81,574 shares. The stock had previously closed at $1.77.

Analysts Set New Price Targets

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 Stock Performance

The company has a debt-to-equity ratio of 0.34, a current ratio of 1.67 and a quick ratio of 0.81. The company has a market capitalization of $107.71 million, a PE ratio of -2.10 and a beta of 1.69. The company has a 50 day moving average of $1.96 and a two-hundred day moving average of $1.94.

Largo (NYSE:LGO) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.16) EPS 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 company had revenue of $29.91 million during the quarter. During the same quarter in the prior year, the company posted ($0.19) earnings per share. As a group, equities research analysts predict that Largo Inc. will post -0.57 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its holdings in shares of Largo by 19.9% during the 2nd quarter. Renaissance Technologies LLC now owns 43,900 shares of the company’s stock valued at $81,000 after purchasing an additional 7,300 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Largo in the third quarter valued at $32,000. Finally, Herr Investment Group LLC bought a new position in shares of Largo during the second quarter valued at approximately $370,000. 64.08% of the stock is owned by hedge funds and other institutional investors.

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.