Largo (NYSE:LGO) Trading Up 7.7% - Here's Why

Largo Inc. (NYSE:LGO - Get Free Report) shares traded up 7.7% on Friday . The stock traded as high as $2.14 and last traded at $2.10. 234,255 shares were traded during mid-day trading, an increase of 159% from the average session volume of 90,364 shares. The stock had previously closed at $1.95.

Analyst Upgrades and Downgrades

Separately, HC Wainwright dropped their price objective on shares of Largo from $4.70 to $4.40 and set a "buy" rating on the stock in a report on Tuesday, August 13th.

Largo Stock Up 7.2 %

The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.23 and a current ratio of 2.13. The stock has a market capitalization of $133.91 million, a P/E ratio of -3.03 and a beta of 1.80. The stock's fifty day simple moving average is $1.85 and its two-hundred day simple moving average is $1.82.

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

Institutional Trading of Largo

A hedge fund recently raised its stake in Largo stock. Renaissance Technologies LLC grew its holdings in Largo Inc. (NYSE:LGO - Free Report) by 19.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,900 shares of the company's stock after purchasing an additional 7,300 shares during the period. Renaissance Technologies LLC owned approximately 0.07% of Largo worth $81,000 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.