HC Wainwright Issues Pessimistic Forecast for Largo (NYSE:LGO) Stock Price

Largo (NYSE:LGO) had its price target dropped by research analysts at HC Wainwright from $4.40 to $4.20 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target indicates a potential upside of 115.38% from the stock’s previous close. HC Wainwright also issued estimates for Largo’s FY2025 earnings at $0.11 EPS.

Largo Trading Down 3.9 %

NYSE:LGO opened at $1.95 on Thursday. The company’s 50 day moving average is $2.01 and its 200-day moving average is $1.93. The company has a quick ratio of 1.23, a current ratio of 1.67 and a debt-to-equity ratio of 0.34. Largo has a 12 month low of $1.38 and a 12 month high of $2.84. The firm has a market cap of $125.02 million, a price-to-earnings ratio of -2.44 and a beta of 1.75.

Institutional Investors Weigh In On Largo

Hedge funds and other institutional investors have recently modified their holdings of the stock. Herr Investment Group LLC bought a new stake in Largo in the 2nd quarter valued at $370,000. XTX Topco Ltd bought a new stake in shares of Largo in the third quarter valued at about $32,000. Finally, Renaissance Technologies LLC grew its position in Largo by 19.9% during the second quarter. Renaissance Technologies LLC now owns 43,900 shares of the company’s stock worth $81,000 after buying an additional 7,300 shares in the last quarter. Institutional investors and hedge funds own 64.08% of the company’s stock.

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.