Logan Energy (CVE:LGN) Trading Up 3.5% on Analyst Upgrade

Logan Energy Corp. (CVE:LGN)’s stock price was up 3.5% during mid-day trading on Wednesday after Scotiabank upgraded the stock to a strong-buy rating. The company traded as high as C$0.90 and last traded at C$0.89. Approximately 672,482 shares changed hands during mid-day trading, an increase of 27% from the average daily volume of 528,399 shares. The stock had previously closed at C$0.86.

Several other brokerages have also weighed in on LGN. ATB Cormark Capital Markets raised shares of Logan Energy to a “moderate buy” rating in a report on Tuesday, February 17th. Canadian Imperial Bank of Commerce raised shares of Logan Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company. Based on data from MarketBeat, Logan Energy has an average rating of “Strong Buy” and a consensus target price of C$1.21.

Logan Energy Price Performance

The stock’s fifty day simple moving average is C$0.80 and its two-hundred day simple moving average is C$0.81. The company has a market capitalization of C$571.85 million, a price-to-earnings ratio of 24.00 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.