Coelacanth Energy (CVE:CEI) Sets New 12-Month Low – Here’s Why

Shares of Coelacanth Energy Inc. (CVE:CEI) hit a new 52-week low during trading on Monday. The company traded as low as C$0.67 and last traded at C$0.67, with a volume of 4921 shares. The stock had previously closed at C$0.69.

Analyst Ratings Changes

CEI has been the subject of several research analyst reports. TD set a C$0.80 target price on shares of Coelacanth Energy and gave the stock a “hold” rating in a research report on Tuesday, September 8th. TD Securities raised Coelacanth Energy to a “hold” rating in a research report on Wednesday, September 9th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$0.80.

Coelacanth Energy Stock Performance

The business has a 50-day moving average price of C$0.74 and a 200 day moving average price of C$0.80. The stock has a market capitalization of C$418.39 million, a P/E ratio of -43.00 and a beta of 0.10.

About Coelacanth Energy

Coelacanth Energy Inc, an oil and natural gas company, engages in the acquisition, development, exploration, and production of oil and natural gas reserves in northeastern British Columbia, Canada. The company owns approximately 150 net sections of Montney acreage located in the Two Rivers area of northeastern British Columbia. Coelacanth Energy Inc was incorporated in 2022 and is headquartered in Calgary, Canada.