Largo (NYSE:LGO) Stock Price Down 2.5% – What’s Next?

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

Analyst Upgrades and Downgrades

Separately, HC Wainwright cut their price objective 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 Stock Down 2.0 %

The stock has a market cap of $124.38 million, a price-to-earnings ratio of -2.43 and a beta of 1.66. 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 simple moving average is $2.12 and its two-hundred day simple moving average is $1.97.

Largo (NYSE:LGO) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter. During the same period in the prior year, the company posted ($0.19) earnings per share. On average, sell-side analysts expect that Largo Inc. will post -0.57 EPS for the current fiscal year.

Institutional Trading of Largo

Several institutional investors and hedge funds have recently added to or reduced their stakes in LGO. XTX Topco Ltd acquired a new stake in shares of Largo during the 3rd quarter worth approximately $32,000. Renaissance Technologies LLC boosted its stake in Largo by 19.9% in the second 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 during the last quarter. Finally, Herr Investment Group LLC bought a new position in Largo in the second quarter valued at approximately $370,000. 64.08% of the stock is owned by institutional investors.

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.