Largo (NYSE:LGO) Stock Price Up 1.5% – Still a Buy?

Largo Inc. (NYSE:LGO)’s share price was up 1.5% on Wednesday . The stock traded as high as $1.93 and last traded at $1.93. Approximately 46,180 shares traded hands during trading, a decline of 62% from the average daily volume of 122,879 shares. The stock had previously closed at $1.90.

Wall Street Analyst Weigh In

Separately, HC Wainwright cut their price target on Largo from $4.20 to $3.70 and set a “buy” rating for the company in a report on Wednesday, February 12th.

Largo Stock Performance

The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.81 and a current ratio of 1.67. The firm’s 50-day moving average price is $1.81 and its two-hundred day moving average price is $1.91. The stock has a market cap of $118.61 million, a price-to-earnings ratio of -2.31 and a beta of 1.69.

Institutional Trading of Largo

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. XTX Topco Ltd purchased a new position in Largo in the third quarter worth approximately $32,000. Virtu Financial LLC purchased a new position in shares of Largo during the 4th quarter worth $39,000. Millennium Management LLC acquired a new stake in shares of Largo during the 4th quarter worth about $74,000. Finally, Sprott Inc. raised its holdings in Largo by 156.8% in the 4th quarter. Sprott Inc. now owns 1,016,809 shares of the company’s stock valued at $1,749,000 after buying an additional 620,909 shares during the period. Institutional investors and hedge funds own 64.08% of the company’s stock.

About Largo

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.