Logan Energy (CVE:LGN) Trading 3.2% Higher – Here’s What Happened

Shares of Logan Energy Corp. (CVE:LGN) traded up 3.2% on Wednesday . The company traded as high as C$0.98 and last traded at C$0.97. 1,094,048 shares traded hands during mid-day trading, an increase of 63% from the average session volume of 670,904 shares. The stock had previously closed at C$0.94.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Scotiabank raised Logan Energy to a “strong-buy” rating in a report on Thursday, March 12th. ATB Cormark Capital Markets raised Logan Energy to a “moderate buy” rating in a report on Tuesday, February 17th. Finally, Canadian Imperial Bank of Commerce raised Logan Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 11th. Three equities research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Strong Buy” and a consensus target price of C$1.21.

Logan Energy Price Performance

The company has a market capitalization of C$677.74 million, a price-to-earnings ratio of 16.33 and a beta of 5.15. The stock has a fifty day simple moving average of C$0.91 and a 200-day simple moving average of C$0.84.

Logan Energy Company Profile

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.