Largo’s (LGO) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Largo (NYSE:LGO) in a research note released on Friday morning,Benzinga reports. The brokerage currently has a $4.20 target price on the stock.

Largo Stock Performance

LGO opened at $1.70 on Friday. The company’s 50 day moving average is $2.09 and its 200 day moving average is $1.96. The company has a current ratio of 1.67, a quick ratio of 0.81 and a debt-to-equity ratio of 0.34. The company has a market cap of $108.99 million, a price-to-earnings ratio of -2.13 and a beta of 1.66. Largo has a 12-month low of $1.38 and a 12-month high of $2.84.

Largo (NYSE:LGO) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate 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 company earned ($0.19) EPS. On average, equities research analysts predict that Largo will post -0.57 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LGO. XTX Topco Ltd purchased a new stake in Largo in the 3rd quarter worth approximately $32,000. Renaissance Technologies LLC increased its stake in shares of Largo by 19.9% in the second quarter. Renaissance Technologies LLC now owns 43,900 shares of the company’s stock worth $81,000 after purchasing an additional 7,300 shares in the last quarter. Finally, Herr Investment Group LLC bought a new stake in shares of Largo during the 2nd quarter valued at $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.