Renaissance Technologies LLC Purchases 1,116,534 Shares of Largo Inc. $LGO

Renaissance Technologies LLC lifted its position in shares of Largo Inc. (NYSE:LGO) by 631.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,293,300 shares of the company’s stock after purchasing an additional 1,116,534 shares during the period. Renaissance Technologies LLC owned 1.32% of Largo worth $1,448,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Baader Bank Aktiengesellschaft bought a new position in shares of Largo during the 1st quarter worth approximately $28,000. XTX Topco Ltd bought a new stake in Largo during the second quarter worth $46,000. Banque Cantonale Vaudoise purchased a new position in Largo in the third quarter worth $61,000. Banco BTG Pactual S.A. bought a new position in Largo in the 2nd quarter valued at $61,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Largo during the 4th quarter worth $62,000. 64.08% of the stock is owned by institutional investors.

Largo Stock Performance

Shares of LGO opened at $0.74 on Thursday. Largo Inc. has a 1 year low of $0.55 and a 1 year high of $2.70. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.67 and a quick ratio of 0.81. The stock’s fifty day moving average price is $0.70 and its two-hundred day moving average price is $1.07. The firm has a market cap of $76.40 million, a PE ratio of -0.93 and a beta of 1.46.

Analysts Set New Price Targets

Several research firms recently weighed in on LGO. National Bank Financial set a $2.40 price target on shares of Largo in a research report on Tuesday, July 7th. HC Wainwright lowered their price objective on shares of Largo from $2.80 to $2.40 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Finally, Maxim Group started coverage on shares of Largo in a research note on Friday, July 24th. They issued a “buy” rating and a $1.50 target price on the stock. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $2.10.

About Largo

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.