Lycos Energy (CVE:LCX) Trading 20.3% Higher – Should You Buy?

Lycos Energy Inc. (CVE:LCX) shares were up 20.3% on Thursday . The company traded as high as C$1.58 and last traded at C$1.54. Approximately 1,259,017 shares were traded during trading, an increase of 400% from the average daily volume of 251,819 shares. The stock had previously closed at C$1.28.

Wall Street Analysts Forecast Growth

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

Lycos Energy Price Performance

The company has a fifty day moving average price of C$0.80 and a 200 day moving average price of C$1.09. The company has a market cap of C$79.86 million, a PE ratio of -1.26 and a beta of 0.43.

Lycos Energy Company Profile

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.