Logan Energy (CVE:LGN) Shares Climb 9.2% – Here’s What Happened

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on LGN shares. National Bank Financial set a C$1.75 price target on Logan Energy and gave the stock an “outperform” rating in a research note on Wednesday, September 30th. Scotiabank raised shares of Logan Energy to a “strong-buy” rating in a research note 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 report on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$1.38.

Logan Energy Stock Up 6.2%

The company has a market capitalization of C$954.43 million, a price-to-earnings ratio of 23.00 and a beta of -0.14. The company has a 50 day simple moving average of C$1.18 and a 200 day simple moving average of C$1.02.

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.