HC Wainwright Lowers Largo (NYSE:LGO) Price Target to $4.60

Largo (NYSE:LGO) had its target price trimmed by HC Wainwright from $9.00 to $4.60 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock. HC Wainwright also issued estimates for Largo’s FY2024 earnings at ($0.06) EPS.

Largo Price Performance

Shares of LGO opened at $1.65 on Monday. The business’s 50-day moving average is $1.87 and its two-hundred day moving average is $2.25. The company has a market capitalization of $105.68 million, a P/E ratio of -3.24 and a beta of 1.76. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.62 and a current ratio of 3.23. Largo has a fifty-two week low of $1.50 and a fifty-two week high of $5.44.

Institutional Investors Weigh In On Largo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LGO. Swiss National Bank grew its position in Largo by 7.1% during the 1st quarter. Swiss National Bank now owns 84,710 shares of the company’s stock worth $1,072,000 after purchasing an additional 5,600 shares during the period. Bank of Montreal Can grew its position in Largo by 12.7% during the 1st quarter. Bank of Montreal Can now owns 20,439 shares of the company’s stock worth $257,000 after purchasing an additional 2,308 shares during the period. Cibc World Market Inc. grew its position in shares of Largo by 133.9% during the 1st quarter. Cibc World Market Inc. now owns 52,822 shares of the company’s stock valued at $671,000 after acquiring an additional 30,242 shares during the period. Mackenzie Financial Corp acquired a new stake in shares of Largo during the 1st quarter valued at about $187,000. Finally, Bridgewater Associates LP acquired a new stake in shares of Largo during the 1st quarter valued at about $131,000. 64.08% of the stock is owned by institutional investors and hedge funds.

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.