Logan Energy (CVE:LGN) Trading Down 0.7% – Here’s What Happened

Logan Energy Corp. (CVE:LGN) shares were down 0.7% during trading on Friday . The stock traded as low as C$0.75 and last traded at C$0.75. Approximately 387,471 shares changed hands during trading, an increase of 75% from the average daily volume of 221,174 shares. The stock had previously closed at C$0.75.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. National Bankshares set a C$1.50 price objective on shares of Logan Energy and gave the company an “outperform” rating in a research note on Friday, October 4th. Cormark raised Logan Energy to a “moderate buy” rating in a research report on Thursday, October 24th. National Bank Financial upgraded Logan Energy to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, CIBC cut their price objective on Logan Energy from C$1.75 to C$1.50 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of C$1.41.

Logan Energy Price Performance

The business has a 50 day moving average price of C$0.78 and a 200 day moving average price of C$0.83. The firm has a market capitalization of C$397.85 million and a P/E ratio of -89.50.

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.