Largo (NYSE:LGO) Shares Up 5.3%

Shares of Largo Inc. (NYSE:LGO – Get Free Report) shot up 5.3% during mid-day trading on Wednesday . The stock traded as high as $4.65 and last traded at $4.63. 62,734 shares were traded during trading, an increase of 15% from the average session volume of 54,639 shares. The stock had previously closed at $4.40.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LGO. TheStreet lowered shares of Largo from a “c-” rating to a “d+” rating in a research note on Tuesday, April 4th. HC Wainwright cut their price objective on shares of Largo from $17.00 to $12.00 in a report on Friday, May 12th.

The company’s fifty day simple moving average is $4.23 and its 200 day simple moving average is $5.16. The company has a current ratio of 3.75, a quick ratio of 2.44 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $296.55 million, a P/E ratio of -231.50 and a beta of 1.93.

Largo (NYSE:LGO – Get Free Report) last posted its quarterly earnings data on Wednesday, May 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.06). Largo had a negative return on equity of 0.53% and a negative net margin of 0.61%. The company had revenue of $57.42 million for the quarter, compared to the consensus estimate of $52.67 million. As a group, sell-side analysts forecast that Largo Inc. will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Largo

A number of large investors have recently added to or reduced their stakes in LGO. UBS Group AG raised its position in Largo by 4,549.3% in the 3rd quarter. UBS Group AG now owns 6,602 shares of the company’s stock worth $35,000 after purchasing an additional 6,460 shares during the period. Solidarity Wealth LLC purchased a new position in shares of Largo in the first quarter valued at about $73,000. Inscription Capital LLC increased its position in shares of Largo by 16.7% in the first quarter. Inscription Capital LLC now owns 17,500 shares of the company’s stock valued at $91,000 after acquiring an additional 2,500 shares during the period. 626 Financial LLC increased its position in shares of Largo by 84.1% in the first quarter. 626 Financial LLC now owns 19,700 shares of the company’s stock valued at $102,000 after acquiring an additional 9,000 shares during the period. Finally, Bridgewater Associates LP purchased a new position in shares of Largo in the first quarter valued at about $131,000. Hedge funds and other institutional investors own 55.10% 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.