Largo (NYSE:LGO) Trading Up 1.5% – Should You Buy?

Largo Inc. (NYSE:LGO) shares shot up 1.5% on Wednesday . The stock traded as high as $1.93 and last traded at $1.93. 46,180 shares were traded 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.

Wall Street Analyst Weigh In

Separately, HC Wainwright decreased their price objective on 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 company has a market cap of $123.74 million, a PE ratio of -2.41 and a beta of 1.69. 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 firm has a fifty day simple moving average of $1.81 and a 200 day simple moving average of $1.91.

Hedge Funds Weigh In On Largo

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