What is HC Wainwright’s Estimate for Largo FY2024 Earnings?

Largo Inc. (NYSE:LGO) – HC Wainwright cut their FY2024 earnings per share estimates for Largo in a report issued on Wednesday, February 12th. HC Wainwright analyst H. Ihle now forecasts that the company will post earnings of ($0.61) per share for the year, down from their prior forecast of ($0.57). HC Wainwright currently has a “Buy” rating and a $3.70 price target on the stock. The consensus estimate for Largo’s current full-year earnings is ($0.57) per share. HC Wainwright also issued estimates for Largo’s FY2025 earnings at $0.01 EPS.

Largo Stock Down 3.9 %

Largo stock opened at $1.74 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.67 and a quick ratio of 0.81. Largo has a 1-year low of $1.38 and a 1-year high of $2.84. The company has a market cap of $111.55 million, a PE ratio of -2.18 and a beta of 1.70. The stock’s 50 day moving average price is $1.81 and its 200 day moving average price is $1.92.

Hedge Funds Weigh In On Largo

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC acquired a new position in Largo during the fourth quarter worth $74,000. Virtu Financial LLC acquired a new position in shares of Largo in the fourth quarter worth $39,000. Sprott Inc. raised its holdings in shares of Largo by 156.8% in 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. Finally, XTX Topco Ltd acquired a new position in shares of Largo in the third quarter worth $32,000. 64.08% of the stock is owned by institutional investors and hedge funds.

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.