Largo (NYSE:LGO) Stock Price Up 2.9% – Here’s What Happened

Largo Inc. (NYSE:LGO)’s stock price traded up 2.9% during trading on Tuesday . The stock traded as high as $1.06 and last traded at $1.06. 201,100 shares changed hands during trading, a decline of 57% from the average session volume of 466,134 shares. The stock had previously closed at $1.03.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reduced their price objective on Largo from $3.70 to $2.90 and set a “buy” rating on the stock in a research note on Thursday, November 13th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Largo currently has a consensus rating of “Buy” and a consensus target price of $2.90.

Largo Trading Up 2.9%

The firm has a fifty day moving average of $1.24 and a 200-day moving average of $1.37. 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 stock has a market capitalization of $88.31 million, a price-to-earnings ratio of -1.33 and a beta of 1.51.

Institutional Investors Weigh In On Largo

Several hedge funds have recently modified their holdings of LGO. Russell Investments Group Ltd. lifted its position in Largo by 75.9% during the 1st quarter. Russell Investments Group Ltd. now owns 288,860 shares of the company’s stock worth $466,000 after acquiring an additional 124,604 shares in the last quarter. Sprott Inc. raised its stake in shares of Largo by 5.4% during the first quarter. Sprott Inc. now owns 1,072,056 shares of the company’s stock valued at $1,726,000 after purchasing an additional 55,247 shares during the period. Citadel Advisors LLC lifted its position in shares of Largo by 84.2% during the third quarter. Citadel Advisors LLC now owns 231,860 shares of the company’s stock worth $348,000 after purchasing an additional 105,974 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Largo in the third quarter valued at $116,000. Finally, Banque Cantonale Vaudoise acquired a new stake in Largo during the 3rd quarter valued at $61,000. 64.08% of the stock is currently owned by hedge funds and other 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.