Logan Energy (CVE:LGN) Shares Down 1.3% – What’s Next?

Logan Energy Corp. (CVE:LGN)’s share price fell 1.3% on Thursday . The stock traded as low as C$0.77 and last traded at C$0.77. 249,403 shares traded hands during mid-day trading, a decline of 5% from the average session volume of 261,648 shares. The stock had previously closed at C$0.78.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LGN. Scotiabank reduced their target price on shares of Logan Energy from C$1.65 to C$1.50 and set an “outperform” rating for the company in a research note on Wednesday, January 21st. ATB Cormark Capital Markets set a C$1.20 price target on Logan Energy and gave the stock an “outperform” rating in a research report on Monday, December 8th. Finally, Canadian Imperial Bank of Commerce downgraded shares of Logan Energy from an “outperform” rating to a “hold” rating and lowered their price objective for the company from C$1.15 to C$0.95 in a report on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$1.21.

Logan Energy Stock Down 1.3%

The stock’s fifty day moving average is C$0.81 and its two-hundred day moving average is C$0.80. The firm has a market capitalization of C$452.71 million, a price-to-earnings ratio of 19.00 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.