Lycos Energy (CVE:LCX) Stock Price Up 17.2% – Here’s What Happened

Lycos Energy Inc. (CVE:LCX)’s stock price shot up 17.2% during mid-day trading on Thursday . The stock traded as high as C$1.58 and last traded at C$1.50. 1,661,088 shares traded hands during mid-day trading, an increase of 532% from the average session volume of 262,648 shares. The stock had previously closed at C$1.28.

Wall Street Analyst Weigh In

Separately, Haywood Securities upgraded Lycos Energy from a “hold” rating to a “buy” rating and dropped their target price for the company from C$1.50 to C$0.65 in a research report on Monday, December 22nd. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$1.60.

Lycos Energy Price Performance

The firm’s fifty day simple moving average is C$0.80 and its 200 day simple moving average is C$1.09. The company has a market capitalization of C$79.32 million, a PE ratio of -1.25 and a beta of 0.43.

About Lycos Energy

Lycos Energy Inc, a junior resource company, engages in the development and production of petroleum and natural gas in Western Canada. The company operates heavy-oil development assets in the Gull Lake area of southwest Saskatchewan and heavy-oil assets in the Lloydminster area. Lycos Energy Inc is headquartered in Calgary, Canada.