Lycos Energy (CVE:LCX) Stock Price Up 17.2% – Here’s What Happened

Lycos Energy Inc. (CVE:LCX) rose 17.2% during trading on Thursday . The company traded as high as C$1.58 and last traded at C$1.50. Approximately 1,661,088 shares traded hands during trading, an increase of 532% from the average daily volume of 262,648 shares. The stock had previously closed at C$1.28.

Analysts Set New Price Targets

Separately, Haywood Securities upgraded shares of Lycos Energy from a “hold” rating to a “buy” rating and decreased their target price for the company from C$1.50 to C$0.65 in a research note on Monday, December 22nd. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$1.60.

Lycos Energy Stock Up 16.4%

The firm has a market capitalization of C$79.32 million, a PE ratio of -1.25 and a beta of 0.43. The stock has a 50-day moving average price of C$0.80 and a 200 day moving average price of C$1.09.

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.