Largo (NYSE:LGO) Price Target Cut to $2.90 by Analysts at HC Wainwright

Largo (NYSE:LGO) had its price objective dropped by equities research analysts at HC Wainwright from $3.70 to $2.90 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price points to a potential upside of 180.19% from the stock’s current price.

Largo Stock Down 5.9%

Largo stock traded down $0.07 during midday trading on Thursday, hitting $1.04. 213,599 shares of the stock were exchanged, compared to its average volume of 462,308. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.67 and a quick ratio of 0.81. Largo has a 1 year low of $1.03 and a 1 year high of $2.70. The company has a 50 day moving average price of $1.52 and a two-hundred day moving average price of $1.43. The firm has a market cap of $86.23 million, a P/E ratio of -1.31 and a beta of 1.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Baader Bank Aktiengesellschaft acquired a new position in shares of Largo during the 1st quarter worth about $77,000. Russell Investments Group Ltd. increased its stake in Largo by 75.9% in the first quarter. Russell Investments Group Ltd. now owns 288,860 shares of the company’s stock valued at $466,000 after purchasing an additional 124,604 shares in the last quarter. Sprott Inc. raised its holdings in Largo by 5.4% in the first quarter. Sprott Inc. now owns 1,072,056 shares of the company’s stock worth $1,726,000 after purchasing an additional 55,247 shares during the period. XTX Topco Ltd bought a new stake in shares of Largo in the 2nd quarter valued at $46,000. Finally, Banco BTG Pactual S.A. bought a new stake in shares of Largo in the 2nd quarter valued at $61,000. 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.