Largo Inc. (NYSE:LGO – Get Free Report) was down 0.7% on Tuesday . The stock traded as low as $1.38 and last traded at $1.42. Approximately 48,140 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 71,113 shares. The stock had previously closed at $1.43.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright decreased their target price on Largo from $9.00 to $4.60 and set a “buy” rating on the stock in a research report on Monday, March 25th.
Check Out Our Latest Stock Report on Largo
Largo Price Performance
Largo (NYSE:LGO – Get Free Report) last posted its earnings results on Thursday, March 21st. The company reported ($0.21) earnings per share (EPS) for the quarter. Largo had a negative net margin of 16.29% and a negative return on equity of 12.02%. The company had revenue of $44.17 million during the quarter. As a group, equities research analysts predict that Largo Inc. will post -0.06 earnings per share for the current year.
Institutional Trading of Largo
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Swiss National Bank increased its holdings in Largo by 7.1% in the 1st quarter. Swiss National Bank now owns 84,710 shares of the company’s stock valued at $1,072,000 after purchasing an additional 5,600 shares in the last quarter. Bank of Montreal Can lifted its holdings in Largo by 12.7% in the first quarter. Bank of Montreal Can now owns 20,439 shares of the company’s stock worth $257,000 after acquiring an additional 2,308 shares during the last quarter. Cibc World Market Inc. raised its holdings in shares of Largo by 133.9% during the first quarter. Cibc World Market Inc. now owns 52,822 shares of the company’s stock valued at $671,000 after buying an additional 30,242 shares during the last quarter. Mackenzie Financial Corp bought a new stake in shares of Largo during the first quarter valued at approximately $187,000. Finally, Bridgewater Associates LP acquired a new position in shares of Largo during the first quarter valued at approximately $131,000. 64.08% of the stock is currently owned by institutional investors and hedge funds.
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.
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