Largo (NYSE:LGO) Trading 7.7% Higher – Here’s Why

Largo Inc. (NYSE:LGO)’s stock price was up 7.7% on Friday . The company traded as high as $2.14 and last traded at $2.10. Approximately 234,255 shares were traded during trading, an increase of 159% from the average daily volume of 90,364 shares. The stock had previously closed at $1.95.

Wall Street Analyst Weigh In

Separately, HC Wainwright cut their target price on Largo from $4.70 to $4.40 and set a “buy” rating on the stock in a report on Tuesday, August 13th.

Largo Trading Up 7.2 %

The firm’s 50-day simple moving average is $1.85 and its 200 day simple moving average is $1.82. The firm has a market cap of $133.91 million, a P/E ratio of -3.03 and a beta of 1.80. The company has a quick ratio of 1.23, a current ratio of 2.13 and a debt-to-equity ratio of 0.35.

Largo (NYSE:LGO) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.23) earnings per share for the quarter. The firm had revenue of $28.56 million for the quarter. Largo had a negative net margin of 33.12% and a negative return on equity of 21.87%. As a group, analysts expect that Largo Inc. will post -0.44 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Largo stock. Herr Investment Group LLC acquired a new position in Largo Inc. (NYSE:LGO) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 200,025 shares of the company’s stock, valued at approximately $370,000. Herr Investment Group LLC owned about 0.31% of Largo at the end of the most recent quarter. Institutional investors and hedge funds own 64.08% of the company’s stock.

Largo Company Profile

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.