Logan Energy (CVE:LGN) Stock Price Down 2.1% – Time to Sell?

Logan Energy Corp. (CVE:LGN)’s share price traded down 2.1% during trading on Wednesday . The stock traded as low as C$0.92 and last traded at C$0.94. 1,369,953 shares changed hands during mid-day trading, an increase of 107% from the average session volume of 660,801 shares. The stock had previously closed at C$0.96.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Scotiabank upgraded shares of Logan Energy to a “strong-buy” rating in a research report on Thursday, March 12th. Canadian Imperial Bank of Commerce upgraded shares of Logan Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 11th. Finally, ATB Cormark Capital Markets upgraded Logan Energy to a “moderate buy” rating in a report on Tuesday, February 17th. Three equities research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company. Based on data from MarketBeat, Logan Energy presently has a consensus rating of “Strong Buy” and a consensus price target of C$1.21.

Logan Energy Trading Up 2.2%

The company has a fifty day simple moving average of C$0.95 and a 200-day simple moving average of C$0.86. The stock has a market cap of C$650.08 million, a price-to-earnings ratio of 23.50 and a beta of 5.15.

About Logan Energy

Logan Energy Corp. engages in the exploration, development and production of crude oil and natural gas properties. The company holds interest in the Simonette and Pouce Coupe properties in northwest Alberta; and the Flatrock property in northeastern British Columbia. Logan Energy Corp. was incorporated in 2023 and is headquartered in Calgary, Canada.