Largo (NYSE:LGO) Trading Up 3.7% – Should You Buy?

Largo Inc. (NYSE:LGO)’s share price shot up 3.7% during mid-day trading on Monday . The company traded as high as $0.70 and last traded at $0.6638. Approximately 838,265 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 1,299,653 shares. The stock had previously closed at $0.6402.

Analysts Set New Price Targets

Separately, HC Wainwright lowered their price target on shares of Largo from $3.10 to $2.80 and set a “buy” rating on the stock in a research report on Monday, April 20th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Largo has an average rating of “Buy” and a consensus target price of $2.80.

Largo Price Performance

The stock has a market capitalization of $67.00 million, a price-to-earnings ratio of -0.83 and a beta of 1.43. 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 company has a fifty day simple moving average of $0.98 and a two-hundred day simple moving average of $1.17.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LGO. Baader Bank Aktiengesellschaft bought a new stake in Largo during the first quarter worth about $28,000. XTX Topco Ltd acquired a new stake in Largo during the second quarter worth about $46,000. Banco BTG Pactual S.A. bought a new position in Largo in the 2nd quarter valued at about $61,000. Banque Cantonale Vaudoise acquired a new position in shares of Largo in the 3rd quarter valued at approximately $61,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Largo in the 4th quarter valued at approximately $62,000. Institutional investors and hedge funds own 64.08% of the company’s stock.

About Largo

Largo Inc (NYSE:LGO) is a diversified resources and digital asset company that provides investors with exposure to both critical battery metals and bitcoin through publicly traded vehicles. The combined platform integrates specialty metals operations with a physical bitcoin trust, reflecting the company’s strategy to offer participation in traditional commodities and emerging digital assets.

The metals division focuses on the production and sale of high-purity nickel and cobalt sulfate used in electric vehicle batteries and energy storage systems.