Largo (NYSE:LGO) Trading Down 5.1% – What’s Next?

Largo Inc. (NYSE:LGO) fell 5.1% during mid-day trading on Monday . The company traded as low as $1.67 and last traded at $1.68. 48,918 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 81,574 shares. The stock had previously closed at $1.77.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and set a $4.20 target price on shares of Largo in a report on Friday, December 20th.

Largo Price Performance

The company has a fifty day simple moving average of $1.95 and a two-hundred day simple moving average of $1.94. The stock has a market capitalization of $110.44 million, a price-to-earnings ratio of -2.15 and a beta of 1.69. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.81 and a current ratio of 1.67.

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

Hedge Funds Weigh In On Largo

A number of institutional investors have recently modified their holdings of LGO. XTX Topco Ltd acquired a new stake in Largo in the third quarter valued at about $32,000. Renaissance Technologies LLC lifted its holdings in shares of Largo by 19.9% in the second quarter. Renaissance Technologies LLC now owns 43,900 shares of the company’s stock worth $81,000 after acquiring an additional 7,300 shares during the last quarter. Finally, Herr Investment Group LLC acquired a new stake in shares of Largo in the 2nd quarter valued at approximately $370,000. 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.