Largo (NYSE:LGO) Shares Down 7.7% – Time to Sell?

Largo Inc. (NYSE:LGO) shares dropped 7.7% during mid-day trading on Friday . The company traded as low as $0.8301 and last traded at $0.8580. Approximately 1,302,945 shares changed hands during trading, a decline of 6% from the average daily volume of 1,391,605 shares. The stock had previously closed at $0.9291.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright lowered their price target on shares of Largo from $3.10 to $2.80 and set a “buy” rating on the stock in a report on Monday, April 20th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Largo has a consensus rating of “Buy” and an average price target of $2.80.

Largo Price 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 stock has a fifty day simple moving average of $1.13 and a 200-day simple moving average of $1.20. The company has a market capitalization of $86.60 million, a price-to-earnings ratio of -1.07 and a beta of 1.43.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LGO. Bank of America Corp DE raised its stake in shares of Largo by 19.6% during the 1st quarter. Bank of America Corp DE now owns 497,135 shares of the company’s stock worth $557,000 after buying an additional 81,550 shares during the period. Royal Bank of Canada grew its stake in Largo by 3,192.4% in the 1st quarter. Royal Bank of Canada now owns 60,614 shares of the company’s stock valued at $68,000 after acquiring an additional 58,773 shares during the period. Renaissance Technologies LLC increased its holdings in Largo by 631.6% in the 1st quarter. Renaissance Technologies LLC now owns 1,293,300 shares of the company’s stock worth $1,448,000 after acquiring an additional 1,116,534 shares in the last quarter. Brooklands Fund Management Ltd raised its position in Largo by 623.9% during the first quarter. Brooklands Fund Management Ltd now owns 760,119 shares of the company’s stock worth $851,000 after acquiring an additional 655,119 shares during the period. Finally, Baader Bank Aktiengesellschaft purchased a new position in Largo during the first quarter valued at $28,000. Hedge funds and other institutional investors own 64.08% of the company’s stock.

Largo Company Profile

Largo Inc (NYSE:LGO) is a diversified resources and digital asset company that provides investors with exposure to both critical battery metals and bitcoin through publicly traded vehicles. The combined platform integrates specialty metals operations with a physical bitcoin trust, reflecting the company’s strategy to offer participation in traditional commodities and emerging digital assets.

The metals division focuses on the production and sale of high-purity nickel and cobalt sulfate used in electric vehicle batteries and energy storage systems.