Largo (NYSE:LGO) Trading 1.5% Higher – What’s Next?

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

Analyst Upgrades and Downgrades

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

Largo Stock Up 1.5 %

The firm has a 50 day moving average of $1.81 and a two-hundred day moving average of $1.91. The stock has a market capitalization of $123.74 million, a PE ratio of -2.41 and a beta of 1.69. The company has a current ratio of 1.67, a quick ratio of 0.81 and a debt-to-equity ratio of 0.34.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. XTX Topco Ltd acquired a new stake in Largo in the 3rd quarter valued at about $32,000. Virtu Financial LLC purchased a new stake in shares of Largo in the fourth quarter valued at about $39,000. Millennium Management LLC acquired a new stake in shares of Largo in the fourth quarter valued at approximately $74,000. Finally, Sprott Inc. increased its stake in shares of Largo by 156.8% during the 4th quarter. Sprott Inc. now owns 1,016,809 shares of the company’s stock worth $1,749,000 after purchasing an additional 620,909 shares in the last quarter. Hedge funds and other 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.