Largo (NYSE:LGO) Shares Up 3.7% – Here’s What Happened
by Sarita Garza · The Markets DailyLargo Inc. (NYSE:LGO – Get Free Report) rose 3.7% during trading on Monday . The stock traded as high as $0.70 and last traded at $0.6638. Approximately 838,265 shares changed hands during trading, a decline of 36% from the average daily volume of 1,299,653 shares. The stock had previously closed at $0.6402.
Analyst Upgrades and Downgrades
Separately, HC Wainwright dropped their price target on Largo from $3.10 to $2.80 and set a “buy” rating on the stock in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $2.80.
Read Our Latest Research Report on LGO
Largo Stock Up 3.7%
The firm has a market cap of $67.00 million, a P/E ratio of -0.83 and a beta of 1.43. The firm’s fifty day moving average is $0.98 and its 200 day moving average is $1.17. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.81 and a current ratio of 1.67.
Institutional Investors Weigh In On Largo
Institutional investors have recently made changes to their positions in the company. Royal Bank of Canada increased its stake in shares of Largo by 3,192.4% during the first quarter. Royal Bank of Canada now owns 60,614 shares of the company’s stock worth $68,000 after purchasing an additional 58,773 shares during the period. Quadrature Capital Ltd bought a new stake in Largo in the 4th quarter valued at $62,000. Virtu Financial LLC bought a new stake in Largo in the 3rd quarter valued at $116,000. Banque Cantonale Vaudoise acquired a new position in Largo in the 3rd quarter valued at $61,000. Finally, Russell Investments Group Ltd. grew its holdings in Largo by 65.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 207,974 shares of the company’s stock valued at $311,000 after buying an additional 81,967 shares in 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.