Logan Energy (CVE:LGN) Reaches New 52-Week Low – What’s Next?

Logan Energy Corp. (CVE:LGN) shares 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.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LGN. National Bankshares set a C$1.50 price objective on Logan Energy and gave the company an “outperform” rating in a report on Friday, October 4th. National Bank Financial raised shares of Logan Energy to a “strong-buy” rating in a research report on Thursday, October 3rd. CIBC cut their price objective 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. Finally, Cormark raised Logan Energy to a “moderate buy” rating in a report on Thursday, October 24th. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of C$1.41.

Logan Energy Stock Performance

The stock has a market capitalization of C$373.82 million and a PE ratio of -89.50. The firm’s fifty day moving average is C$0.77 and its 200-day moving average is C$0.82.

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.