Largo Sees Unusually High Options Volume (NYSE:LGO)

Largo Inc. (NYSE:LGO) saw some unusual options trading activity on Wednesday. Stock traders bought 6,847 call options on the company. This represents an increase of 616% compared to the typical volume of 956 call options.

Largo Trading Down 18.2%

Shares of LGO opened at $1.53 on Friday. Largo has a 1-year low of $0.85 and a 1-year high of $2.70. The company has a market capitalization of $130.96 million, a P/E ratio of -1.91 and a beta of 1.52. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.67 and a quick ratio of 0.81. The firm’s 50 day simple moving average is $1.19 and its 200 day simple moving average is $1.32.

Wall Street Analyst Weigh In

Separately, HC Wainwright boosted their price target on shares of Largo from $2.90 to $3.10 and gave the company a “buy” rating in a research report on Wednesday, January 14th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $3.10.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in LGO. Old West Investment Management LLC bought a new stake in shares of Largo in the 3rd quarter valued at about $562,000. EverSource Wealth Advisors LLC purchased a new position in Largo in the 3rd quarter worth approximately $190,000. Sprott Inc. lifted its position in Largo by 11.2% in the third quarter. Sprott Inc. now owns 1,174,346 shares of the company’s stock valued at $1,762,000 after purchasing an additional 118,712 shares during the last quarter. Citadel Advisors LLC boosted its stake in shares of Largo by 84.2% during the third quarter. Citadel Advisors LLC now owns 231,860 shares of the company’s stock valued at $348,000 after purchasing an additional 105,974 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in shares of Largo by 65.0% in the third quarter. Russell Investments Group Ltd. now owns 207,974 shares of the company’s stock worth $311,000 after purchasing an additional 81,967 shares during the last quarter. Institutional investors own 64.08% of the company’s stock.

Largo Company Profile

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.