Largo Inc. (NYSE:LGO - Free Report) - Equities researchers at HC Wainwright cut their FY2024 EPS estimates for shares of Largo in a research note issued to investors on Wednesday, November 13th. HC Wainwright analyst H. Ihle now forecasts that the company will post earnings of ($0.57) per share for the year, down from their prior forecast of ($0.44). HC Wainwright currently has a "Buy" rating and a $4.20 price target on the stock. The consensus estimate for Largo's current full-year earnings is ($0.57) per share.
Largo Stock Performance
Shares of NYSE LGO remained flat at $1.95 during midday trading on Monday. The stock had a trading volume of 172,033 shares, compared to its average volume of 104,394. Largo has a 52-week low of $1.38 and a 52-week high of $2.84. The company's 50 day moving average is $2.01 and its 200 day moving average is $1.93. The company has a current ratio of 1.67, a quick ratio of 1.23 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $125.01 million, a P/E ratio of -2.44 and a beta of 1.75.
Largo (NYSE:LGO - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.07). The firm had revenue of $29.91 million during the quarter. Largo had a negative net margin of 35.10% and a negative return on equity of 22.61%. During the same period in the previous year, the company posted ($0.19) EPS.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its stake in Largo by 19.9% during the 2nd quarter. Renaissance Technologies LLC now owns 43,900 shares of the company's stock valued at $81,000 after purchasing an additional 7,300 shares during the last quarter. XTX Topco Ltd purchased a new stake in Largo in the 3rd quarter valued at $32,000. Finally, Herr Investment Group LLC bought a new position in Largo during the 2nd quarter valued at $370,000. Institutional investors and hedge funds own 64.08% of the company's stock.
About Largo
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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.
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