HC Wainwright Has Lowered Expectations for Largo (NYSE:LGO) Stock Price

Largo (NYSE:LGO) had its price target reduced by analysts at HC Wainwright to $0.90 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright‘s target price suggests a potential upside of 174.89% from the stock’s previous close.

LGO has been the subject of several other research reports. Maxim Group began coverage on shares of Largo in a research report on Friday, July 24th. They issued a “buy” rating and a $1.50 target price for the company. National Bank Financial set a $2.40 target price on shares of Largo in a research note on Tuesday, July 7th. Two investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat, Largo currently has a consensus rating of “Buy” and a consensus target price of $1.60.

Largo Trading Down 3.1%

NYSE LGO opened at $0.33 on Wednesday. Largo has a 12 month low of $0.31 and a 12 month high of $1.93. 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 $37.70 million, a price-to-earnings ratio of -0.41 and a beta of 1.50. The company’s fifty day moving average price is $0.55 and its two-hundred day moving average price is $0.94.

Institutional Investors Weigh In On Largo

A number of institutional investors have recently made changes to their positions in LGO. Renaissance Technologies LLC lifted its stake in Largo by 631.6% during the first quarter. Renaissance Technologies LLC now owns 1,293,300 shares of the company’s stock worth $1,448,000 after purchasing an additional 1,116,534 shares during the last quarter. Brooklands Fund Management Ltd boosted its holdings in Largo by 623.9% in the first quarter. Brooklands Fund Management Ltd now owns 760,119 shares of the company’s stock worth $851,000 after purchasing an additional 655,119 shares during the period. Bank of America Corp DE boosted its holdings in Largo by 19.6% in the first quarter. Bank of America Corp DE now owns 497,135 shares of the company’s stock worth $557,000 after purchasing an additional 81,550 shares during the period. West Family Investments Inc. bought a new stake in Largo during the second quarter valued at $466,000. Finally, Royal Bank of Canada increased its stake in Largo by 3,192.4% during the first quarter. Royal Bank of Canada now owns 60,614 shares of the company’s stock valued at $68,000 after purchasing an additional 58,773 shares during the last quarter. 64.08% of the stock is currently owned by institutional investors.

About Largo

Largo Inc is a vertically integrated vanadium materials company focused on the production and development of vanadium-based products. The company’s principal asset is the Maracás Menchen vanadium mine and processing facility in Bahia, Brazil, which produces vanadium pentoxide and other vanadium products for industrial and energy-storage applications.

Largo markets high-purity vanadium products, including its VPURE and VPURE+ vanadium pentoxide products, as well as ferrovanadium and related materials.