Logan Energy (CVE:LGN) Reaches New 1-Year Low – Time to Sell?

Logan Energy Corp. (CVE:LGN) hit a new 52-week low during mid-day trading on Monday . The company traded as low as C$0.69 and last traded at C$0.71, with a volume of 16701 shares traded. The stock had previously closed at C$0.70.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LGN. National Bankshares set a C$1.50 target price on shares of Logan Energy and gave the company an “outperform” rating in a research note on Friday, October 4th. CIBC reduced their price target on shares of Logan Energy from C$1.75 to C$1.50 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. National Bank Financial raised shares of Logan Energy to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, Cormark raised Logan Energy to a “moderate buy” rating in a report on Thursday, October 24th. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Logan Energy presently has a consensus rating of “Buy” and an average target price of C$1.41.

Logan Energy Stock Performance

The business’s 50 day simple moving average is C$0.76 and its 200 day simple moving average is C$0.82. The firm has a market capitalization of C$373.82 million and a PE ratio of -89.50.

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.