Lycos Energy (CVE:LCX) Stock Price Down 5.1% – Here’s What Happened

Lycos Energy Inc. (CVE:LCX)’s share price was down 5.1% during trading on Thursday . The stock traded as low as C$2.17 and last traded at C$2.22. Approximately 214,221 shares changed hands during trading, a decline of 51% from the average daily volume of 433,211 shares. The stock had previously closed at C$2.34.

Wall Street Analysts Forecast Growth

Separately, National Bank Financial upgraded Lycos Energy from a “hold” rating to an “outperform” rating and increased their price objective for the company from C$2.50 to C$3.00 in a research report on Thursday, April 23rd. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$1.85.

Lycos Energy Price Performance

The stock has a 50 day simple moving average of C$1.90 and a 200-day simple moving average of C$1.32. The firm has a market cap of C$243.04 million, a PE ratio of -2.42 and a beta of 0.12.

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.