Logan Energy (CVE:LGN) Reaches New 1-Year Low – Here’s Why

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$0.73 and last traded at C$0.73, with a volume of 1437575 shares. The stock had previously closed at C$0.75.

Analysts Set New Price Targets

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

Logan Energy Trading Down 2.1 %

The company has a market capitalization of C$373.82 million and a PE ratio of -89.50. The stock has a fifty day moving average of C$0.78 and a two-hundred day moving average of 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.