HC Wainwright Reiterates Buy Rating for Largo (NYSE:LGO)

Largo (NYSE:LGO)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They currently have a $4.20 price objective on the stock. HC Wainwright’s price objective would suggest a potential upside of 151.50% from the stock’s current price.

Largo Price Performance

LGO stock opened at $1.67 on Friday. The firm has a 50 day simple moving average of $2.10 and a two-hundred day simple moving average of $1.96. The stock has a market cap of $107.07 million, a PE ratio of -2.09 and a beta of 1.66. Largo has a one year low of $1.38 and a one year high of $2.84. 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 (NYSE:LGO) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.07). The company had revenue of $29.91 million for the quarter. Largo had a negative return on equity of 22.61% and a negative net margin of 35.10%. During the same period in the prior year, the company earned ($0.19) earnings per share. On average, analysts predict that Largo will post -0.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Largo

Institutional investors have recently modified their holdings of the company. Herr Investment Group LLC purchased a new stake in Largo in the second quarter worth approximately $370,000. Renaissance Technologies LLC lifted its holdings in shares of Largo by 19.9% in the 2nd quarter. Renaissance Technologies LLC now owns 43,900 shares of the company’s stock worth $81,000 after acquiring an additional 7,300 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Largo in the 3rd quarter valued at $32,000. 64.08% of the stock is currently owned by 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.