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

Logan Energy Corp. (CVE:LGN)’s stock price hit a new 52-week low during mid-day trading on Friday . The company traded as low as C$0.65 and last traded at C$0.68, with a volume of 517217 shares traded. The stock had previously closed at C$0.70.

Analysts Set New Price Targets

LGN has been the subject of several recent analyst reports. Cormark raised shares of Logan Energy to a “moderate buy” rating in a report on Thursday, October 24th. Scotiabank lowered their price objective on Logan Energy from C$1.85 to C$1.75 in a report on Friday, January 17th. National Bank Financial upgraded Logan Energy to a “strong-buy” rating in a research note on Thursday, October 3rd. National Bankshares set a C$1.50 target price on Logan Energy and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, CIBC lowered their price target on Logan Energy from C$1.75 to C$1.50 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Four research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$1.50.

Logan Energy Price Performance

The firm has a fifty day moving average price of C$0.72 and a 200 day moving average price of C$0.78. The firm has a market capitalization of C$365.81 million and a PE ratio of -89.50.

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.