Lycos Energy (CVE:LCX) Shares Up 17.2% – What’s Next?

Lycos Energy Inc. (CVE:LCX)’s share price shot up 17.2% during trading on Thursday . The company traded as high as C$1.58 and last traded at C$1.50. 1,519,888 shares changed hands during mid-day trading, an increase of 484% from the average session volume of 260,059 shares. The stock had previously closed at C$1.28.

Analyst Upgrades and Downgrades

Separately, Haywood Securities raised shares of Lycos Energy from a “hold” rating to a “buy” rating and lowered their price target for the stock from C$1.50 to C$0.65 in a research note on Monday, December 22nd. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$1.60.

Lycos Energy Price Performance

The company has a market capitalization of C$78.79 million, a PE ratio of -1.24 and a beta of 0.43. The stock has a 50-day simple moving average of C$0.84 and a 200 day simple moving average of C$1.10.

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.