Largo (NYSE:LGO) Shares Down 2.5% – Here’s Why

Largo Inc. (NYSE:LGO)’s stock price fell 2.5% on Thursday . The stock traded as low as $1.98 and last traded at $1.98. 71,086 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 105,267 shares. The stock had previously closed at $2.03.

Analyst Ratings Changes

Separately, HC Wainwright decreased their target price on Largo from $4.40 to $4.20 and set a “buy” rating for the company in a research report on Thursday, November 14th.

Largo Trading Down 2.0 %

The company’s fifty day simple moving average is $2.12 and its two-hundred day simple moving average is $1.97. The company has a market capitalization of $124.38 million, a price-to-earnings ratio of -2.43 and a beta of 1.66. The company has a quick ratio of 0.81, a current ratio of 1.67 and a debt-to-equity ratio of 0.34.

Largo (NYSE:LGO) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.07). Largo had a negative return on equity of 22.61% and a negative net margin of 35.10%. The business had revenue of $29.91 million for the quarter. During the same quarter in the previous year, the firm earned ($0.19) earnings per share. Research analysts forecast that Largo Inc. will post -0.57 earnings per share for the current fiscal year.

Institutional Trading of Largo

A number of large investors have recently bought and sold shares of the business. XTX Topco Ltd acquired a new position in shares of Largo in the third quarter valued at approximately $32,000. Renaissance Technologies LLC lifted its position in Largo by 19.9% in the 2nd quarter. Renaissance Technologies LLC now owns 43,900 shares of the company’s stock valued at $81,000 after acquiring an additional 7,300 shares in the last quarter. Finally, Herr Investment Group LLC acquired a new position in Largo in the 2nd quarter worth $370,000. 64.08% of the stock is 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.