Logan Energy (CVE:LGN) Stock Price Down 8.2% – Here’s What Happened

Logan Energy Corp. (CVE:LGN) traded down 8.2% during mid-day trading on Wednesday . The company traded as low as C$0.85 and last traded at C$0.89. 283,236 shares changed hands during trading, a decline of 59% from the average session volume of 697,120 shares. The stock had previously closed at C$0.97.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Scotiabank raised Logan Energy to a “strong-buy” rating in a report on Thursday, March 12th. ATB Cormark Capital Markets raised Logan Energy to a “moderate buy” rating in a report on Tuesday, February 17th. Finally, Canadian Imperial Bank of Commerce raised Logan Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 11th. Three investment analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. Based on data from MarketBeat.com, Logan Energy presently has an average rating of “Strong Buy” and an average price target of C$1.21.

Logan Energy Stock Down 8.2%

The stock has a fifty day moving average of C$0.86 and a 200-day moving average of C$0.83. The firm has a market capitalization of C$615.50 million, a P/E ratio of 14.83 and a beta of 5.15.

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.