Largo (NYSE:LGO) Trading Down 0.7%

Largo Inc. (NYSE:LGO) dropped 0.7% on Tuesday . The company traded as low as $1.38 and last traded at $1.42. Approximately 48,140 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 71,113 shares. The stock had previously closed at $1.43.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright dropped their price target on Largo from $9.00 to $4.60 and set a “buy” rating for the company in a research note on Monday, March 25th.

Largo Stock Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 3.23 and a quick ratio of 1.78. The business has a 50-day simple moving average of $1.74 and a 200-day simple moving average of $2.10. The firm has a market capitalization of $89.67 million, a PE ratio of -2.75 and a beta of 1.74.

Largo (NYSE:LGO) last issued its quarterly earnings results on Thursday, March 21st. The company reported ($0.21) earnings per share for the quarter. Largo had a negative return on equity of 12.02% and a negative net margin of 16.29%. The business had revenue of $44.17 million during the quarter. Equities research analysts expect that Largo Inc. will post -0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Largo

Several hedge funds and other institutional investors have recently modified their holdings of the business. Jane Street Group LLC boosted its position in shares of Largo by 13.9% in the 1st quarter. Jane Street Group LLC now owns 15,171 shares of the company’s stock worth $192,000 after purchasing an additional 1,849 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Largo by 12.7% in 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 in the last quarter. Geode Capital Management LLC boosted its position in shares of Largo by 9.9% in the 1st quarter. Geode Capital Management LLC now owns 35,869 shares of the company’s stock worth $186,000 after purchasing an additional 3,217 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Largo by 17.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 33,064 shares of the company’s stock worth $226,000 after acquiring an additional 4,837 shares during the last quarter. Finally, Swiss National Bank raised its stake in Largo by 7.1% in the 1st quarter. Swiss National Bank now owns 84,710 shares of the company’s stock worth $1,072,000 after acquiring an additional 5,600 shares during the last quarter. 64.08% of the stock is currently owned by hedge funds and other 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.