Largo (NYSE:LGO) Trading Down 0.7%

Largo Inc. (NYSE:LGO) fell 0.7% during mid-day trading on Tuesday . The stock traded as low as $1.38 and last traded at $1.42. 48,140 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 71,113 shares. The stock had previously closed at $1.43.

Analysts Set New Price Targets

Separately, HC Wainwright decreased their price objective on shares of Largo from $9.00 to $4.60 and set a “buy” rating for the company in a research note on Monday, March 25th.

Largo Stock Down 2.8 %

The firm has a market cap of $89.67 million, a price-to-earnings ratio of -2.75 and a beta of 1.74. The firm’s 50 day moving average price is $1.74 and its two-hundred day moving average price is $2.10. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.23 and a quick ratio of 1.78.

Largo (NYSE:LGO) last announced its earnings results on Thursday, March 21st. The company reported ($0.21) earnings per share for the quarter. Largo had a negative return on equity of 12.02% and a negative net margin of 16.29%. The business had revenue of $44.17 million for the quarter. As a group, sell-side analysts forecast that Largo Inc. will post -0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LGO. UBS Group AG raised its holdings in Largo by 4,549.3% during the third quarter. UBS Group AG now owns 6,602 shares of the company’s stock worth $35,000 after purchasing an additional 6,460 shares in the last quarter. Toronto Dominion Bank purchased a new position in Largo during the third quarter worth about $36,000. Sprott Inc. purchased a new position in Largo in the third quarter valued at about $59,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Largo in the third quarter valued at about $99,000. Finally, Bridgewater Associates LP purchased a new position in Largo in the first quarter valued at about $131,000. 64.08% of the stock is owned by hedge funds and other 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.