Logan Energy (CVE:LGN) Reaches New 52-Week Low – Time to Sell?

Logan Energy Corp. (CVE:LGN)’s share price hit a new 52-week low during trading on Friday . The stock traded as low as C$0.55 and last traded at C$0.55, with a volume of 557200 shares trading hands. The stock had previously closed at C$0.62.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on LGN shares. Cormark raised shares of Logan Energy to a “moderate buy” rating in a research note on Thursday, March 20th. Scotiabank lowered their price target on shares of Logan Energy from C$1.85 to C$1.75 in a research report on Friday, January 17th. Three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of C$1.50.

Logan Energy Stock Performance

The stock has a market cap of C$317.85 million and a P/E ratio of 15.91. The firm’s 50 day moving average is C$0.66 and its 200 day moving average is C$0.72.

About Logan Energy

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.