Logan Energy (CVE:LGN) Shares Down 1.3% – What’s Next?

Logan Energy Corp. (CVE:LGN) shares were down 1.3% during mid-day trading on Thursday . The stock traded as low as C$0.77 and last traded at C$0.77. Approximately 249,403 shares were traded during mid-day trading, a decline of 5% from the average daily volume of 261,648 shares. The stock had previously closed at C$0.78.

Analyst Ratings Changes

Several research firms have commented on LGN. ATB Capital set a C$1.20 price target on shares of Logan Energy and gave the company an “outperform” rating in a research report on Monday, December 8th. Canadian Imperial Bank of Commerce lowered shares of Logan Energy from an “outperform” rating to a “hold” rating and reduced their price objective for the stock from C$1.15 to C$0.95 in a research note on Tuesday, January 13th. Finally, Scotiabank lowered their target price on shares of Logan Energy from C$1.65 to C$1.50 and set an “outperform” rating for the company in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$1.21.

Logan Energy Price Performance

The firm has a market cap of C$458.67 million, a price-to-earnings ratio of 19.25 and a beta of 5.15. The firm has a fifty day simple moving average of C$0.81 and a two-hundred day simple moving average of C$0.80.

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.