Logan Energy (CVE:LGN) Trading Down 1.3% – Here’s What Happened

Logan Energy Corp. (CVE:LGN)’s share price fell 1.3% during mid-day trading 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 equities analysts have recently commented on the stock. Canadian Imperial Bank of Commerce lowered shares of Logan Energy from an “outperform” rating to a “hold” rating and reduced their target price for the stock from C$1.15 to C$0.95 in a research report on Tuesday, January 13th. Scotiabank reduced their price objective on Logan Energy from C$1.65 to C$1.50 and set an “outperform” rating on the stock in a report on Wednesday, January 21st. Finally, ATB Capital set a C$1.20 target price on Logan Energy and gave the company an “outperform” rating in a research report on Monday, December 8th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$1.21.

Logan Energy Stock Down 1.3%

The stock has a market capitalization of C$458.67 million, a P/E ratio of 19.25 and a beta of 5.15. The stock’s 50 day moving average price is C$0.81 and its 200-day moving average price is C$0.80.

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.