Lycos Energy (CVE:LCX) Trading Up 5.2% – What’s Next?

Lycos Energy Inc. (CVE:LCX) shares rose 5.2% during mid-day trading on Friday . The company traded as high as C$2.22 and last traded at C$2.21. Approximately 49,217 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 435,160 shares. The stock had previously closed at C$2.10.

Analyst Upgrades and Downgrades

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

Lycos Energy Stock Performance

The business has a fifty day moving average of C$1.99 and a 200-day moving average of C$1.36. The company has a market capitalization of C$245.20 million, a P/E ratio of -2.44 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.