Logan Energy (CVE:LGN) Shares Down 1.2% – Here’s What Happened

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on LGN shares. Scotiabank upgraded Logan Energy to a “strong-buy” rating in a research note on Friday, June 26th. 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 assigned a Buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Strong Buy” and an average target price of C$1.21.

Logan Energy Trading Up 2.4%

The stock’s 50-day simple moving average is C$0.90 and its 200-day simple moving average is C$0.87. The stock has a market cap of C$587.84 million, a price-to-earnings ratio of 21.25 and a beta of 5.15.

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.