Largo (NYSE:LGO) Shares Up 1.5% – Time to Buy?

Largo Inc. (NYSE:LGO) shot up 1.5% during mid-day trading on Wednesday . The company traded as high as $1.93 and last traded at $1.93. 46,180 shares traded hands during trading, a decline of 62% from the average session volume of 122,879 shares. The stock had previously closed at $1.90.

Analysts Set New Price Targets

Separately, HC Wainwright dropped their price target on shares of Largo from $4.20 to $3.70 and set a “buy” rating on the stock in a research note on Wednesday, February 12th.

Largo Stock Performance

The company has a market cap of $118.61 million, a price-to-earnings ratio of -2.31 and a beta of 1.69. The firm has a 50-day simple moving average of $1.81 and a 200 day simple moving average of $1.91. The company has a quick ratio of 0.81, a current ratio of 1.67 and a debt-to-equity ratio of 0.34.

Institutional Trading of Largo

Several institutional investors and hedge funds have recently bought and sold shares of the business. XTX Topco Ltd acquired a new position in Largo in the third quarter valued at $32,000. Virtu Financial LLC purchased a new position in shares of Largo during the fourth quarter worth about $39,000. Millennium Management LLC acquired a new position in Largo in the 4th quarter valued at about $74,000. Finally, Sprott Inc. raised its stake in Largo by 156.8% during the 4th quarter. Sprott Inc. now owns 1,016,809 shares of the company’s stock valued at $1,749,000 after acquiring an additional 620,909 shares during the last quarter. Hedge funds and other institutional investors 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.