Logan Energy (CVE:LGN) Stock Price Down 1.2% – Time to Sell?

Logan Energy Corp. (CVE:LGN) shares dropped 1.2% during mid-day trading on Thursday . The stock traded as low as C$0.83 and last traded at C$0.83. 232,935 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 651,795 shares. The stock had previously closed at C$0.84.

Analyst Ratings Changes

Several brokerages have recently commented on LGN. Canadian Imperial Bank of Commerce upgraded Logan Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 11th. Scotiabank raised Logan Energy to a “strong-buy” rating in a report on Friday, June 26th. Three analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Strong Buy” and a consensus price target of C$1.21.

Logan Energy Price Performance

The firm has a market capitalization of C$574.01 million, a P/E ratio of 20.75 and a beta of 5.15. The company’s 50 day moving average price is C$0.91 and its 200 day moving average price is C$0.87.

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.