Logan Energy (CVE:LGN) Sets New 1-Year High – What’s Next?

Logan Energy Corp. (CVE:LGN)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as C$1.14 and last traded at C$1.14, with a volume of 766790 shares traded. The stock had previously closed at C$1.09.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LGN. Royal Bank Of Canada set a C$1.50 price target on Logan Energy and gave the stock a “moderate buy” rating in a report on Monday, August 10th. Scotiabank raised Logan Energy to a “strong-buy” rating in a research report on Friday, June 26th. Finally, National Bank Financial lifted their price target on Logan Energy from C$1.50 to C$1.75 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of C$1.38.

Logan Energy Price Performance

The stock’s 50 day simple moving average is C$0.94 and its two-hundred day simple moving average is C$0.91. The stock has a market capitalization of C$781.48 million, a PE ratio of 18.83 and a beta of -0.05.

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.