Lycos Energy (CVE:LCX) Stock Price Down 7.3% – Here’s Why

Lycos Energy Inc. (CVE:LCX)’s share price dropped 7.3% during trading on Tuesday . The stock traded as low as C$1.49 and last traded at C$1.53. Approximately 964,972 shares traded hands during mid-day trading, an increase of 163% from the average session volume of 366,451 shares. The stock had previously closed at C$1.65.

Analyst Ratings Changes

Separately, National Bank Financial upgraded shares of Lycos Energy from a “hold” rating to an “outperform” rating and boosted their target price for the company from C$2.50 to C$3.00 in a research note on Thursday, April 23rd. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$1.72.

Lycos Energy Trading Up 7.1%

The company has a market cap of C$171.92 million, a price-to-earnings ratio of -1.56 and a beta of 0.07. The business has a fifty day moving average of C$1.64 and a two-hundred day moving average of C$1.67.

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.