Lycos Energy (CVE:LCX) Trading Up 17.2% – Still a Buy?

Lycos Energy Inc. (CVE:LCX) shares rose 17.2% on Thursday . The company traded as high as C$1.58 and last traded at C$1.50. Approximately 1,619,088 shares changed hands during trading, an increase of 516% 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 raised Lycos Energy from a “hold” rating to a “buy” rating and cut their price objective for the stock from C$1.50 to C$0.65 in a report on Monday, December 22nd. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$1.60.

Lycos Energy Stock Up 16.4%

The company has a fifty day simple moving average of C$0.80 and a 200-day simple moving average of C$1.09. The firm has a market cap of C$79.32 million, a P/E ratio of -1.25 and a beta of 0.43.

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.