Largo (NYSE:LGO) Stock Price Down 0.5% – Here’s Why

Shares of Largo Inc. (NYSE:LGO) dropped 0.5% on Friday . The stock traded as low as $0.9685 and last traded at $1.01. Approximately 845,505 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 1,483,182 shares. The stock had previously closed at $1.0150.

Wall Street Analyst Weigh In

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

Largo Price Performance

The firm has a market cap of $98.72 million, a PE ratio of -1.26 and a beta of 1.52. The company has a quick ratio of 0.81, a current ratio of 1.67 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average price of $1.24 and a two-hundred day moving average price of $1.21.

Institutional Investors Weigh In On Largo

Large investors have recently modified their holdings of the business. Baader Bank Aktiengesellschaft purchased a new stake in shares of Largo during the first quarter worth about $28,000. SG Americas Securities LLC purchased a new stake in shares of Largo during the third quarter worth about $29,000. XTX Topco Ltd purchased a new stake in shares of Largo during the second quarter worth about $46,000. Banco BTG Pactual S.A. purchased a new stake in shares of Largo during the second quarter worth about $61,000. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Largo during the third quarter worth about $61,000. 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.