HC Wainwright Cuts Largo (NYSE:LGO) Price Target to $4.20

Largo (NYSE:LGO) had its price target cut by HC Wainwright from $4.40 to $4.20 in a research note released on Thursday,Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Largo’s FY2025 earnings at $0.11 EPS.

Largo Trading Down 3.9 %

Shares of Largo stock opened at $1.95 on Thursday. The business has a 50 day moving average of $2.01 and a 200 day moving average of $1.93. Largo has a 52 week low of $1.38 and a 52 week high of $2.84. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.23 and a current ratio of 1.67.

Largo (NYSE:LGO) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.07). Largo had a negative net margin of 35.10% and a negative return on equity of 22.61%. The company had revenue of $29.91 million for the quarter. During the same quarter in the prior year, the company earned ($0.19) EPS. On average, equities research analysts predict that Largo will post -0.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Largo

A number of institutional investors have recently added to or reduced their stakes in LGO. Renaissance Technologies LLC grew its position in shares of Largo by 19.9% in the 2nd quarter. Renaissance Technologies LLC now owns 43,900 shares of the company’s stock worth $81,000 after buying an additional 7,300 shares during the period. XTX Topco Ltd purchased a new stake in Largo in the third quarter worth about $32,000. Finally, Herr Investment Group LLC purchased a new position in shares of Largo during the second quarter valued at approximately $370,000. Institutional investors 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.