Logan Energy (CVE:LGN) Stock Price Up 9.2% – Here’s What Happened

Logan Energy Corp. (CVE:LGN)’s stock price rose 9.2% during mid-day trading on Friday. The company traded as high as C$1.43 and last traded at C$1.42. Approximately 2,467,074 shares changed hands during trading, an increase of 225% from the average daily volume of 759,565 shares. The stock had previously closed at C$1.30.

Analyst Ratings Changes

Several brokerages recently commented on LGN. National Bank Financial set a C$1.75 price target on shares of Logan Energy and gave the stock an “outperform” rating in a report on Wednesday, September 30th. Scotiabank upgraded shares of Logan Energy to a “strong-buy” rating in a research report on Friday, June 26th. Finally, Royal Bank Of Canada set a C$1.50 target price on shares of Logan Energy and gave the stock a “moderate buy” rating in a research note on Monday, August 10th. Two research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of C$1.38.

Logan Energy Trading Up 6.2%

The business has a fifty day simple moving average of C$1.18 and a two-hundred day simple moving average of C$1.02. The company has a market cap of C$954.43 million, a PE ratio of 23.00 and a beta of -0.14.

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.