HC Wainwright Issues Pessimistic Forecast for Largo (NYSE:LGO) Stock Price

Largo (NYSE:LGO) had its price target decreased by equities researchers at HC Wainwright from $4.40 to $4.20 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 104.88% from the company’s current price.

Largo Price Performance

Shares of Largo stock opened at $2.05 on Thursday. The firm has a market cap of $131.43 million, a PE ratio of -2.56 and a beta of 1.75. The business has a 50-day moving average price of $2.00 and a 200 day moving average price of $1.92. The company has a quick ratio of 1.23, a current ratio of 2.13 and a debt-to-equity ratio of 0.35. Largo has a twelve month low of $1.38 and a twelve month high of $2.84.

Institutional Trading of Largo

A hedge fund recently raised its stake in Largo stock. Renaissance Technologies LLC raised its position in Largo Inc. (NYSE:LGO) by 19.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 43,900 shares of the company’s stock after buying an additional 7,300 shares during the period. Renaissance Technologies LLC owned about 0.07% of Largo worth $81,000 at the end of the most recent reporting period. Hedge funds and other institutional investors 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.