Lycos Energy (CVE:LCX) Trading Up 17.2% – Still a Buy?

Lycos Energy Inc. (CVE:LCX) shares shot up 17.2% during trading on Thursday . The stock traded as high as C$1.58 and last traded at C$1.50. 1,100,367 shares traded hands during mid-day trading, an increase of 368% from the average session volume of 235,147 shares. The stock had previously closed at C$1.28.

Analyst Upgrades and Downgrades

Separately, Haywood Securities upgraded Lycos Energy from a “hold” rating to a “buy” rating and dropped their target price for the company from C$1.50 to C$0.65 in a report on Monday, December 22nd. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$1.60.

Lycos Energy Price Performance

The firm has a fifty day simple moving average of C$0.80 and a two-hundred day simple moving average of C$1.09. The firm has a market capitalization of C$82.52 million, a P/E ratio of -1.30 and a beta of 0.43.

About Lycos Energy

Lycos Energy Inc, a junior resource company, engages in the development and production of petroleum and natural gas in Western Canada. The company operates heavy-oil development assets in the Gull Lake area of southwest Saskatchewan and heavy-oil assets in the Lloydminster area. Lycos Energy Inc is headquartered in Calgary, Canada.