Logan Energy (CVE:LGN) Shares Down 2.1% – Here’s What Happened

Logan Energy Corp. (CVE:LGN)’s stock 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 traded 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.

Analysts Set New Price Targets

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

Logan Energy Stock Performance

The stock has a market cap of C$650.08 million, a PE ratio of 23.50 and a beta of 5.15. The company’s 50-day moving average price is C$0.95 and its 200 day moving average price is C$0.86.

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.