Lycos Energy (CVE:LCX) Stock Price Up 20.3% – Here’s Why

Lycos Energy Inc. (CVE:LCX)’s stock price traded up 20.3% during mid-day trading on Thursday . The stock traded as high as C$1.58 and last traded at C$1.54. 1,259,017 shares traded hands during mid-day trading, an increase of 400% from the average session volume of 251,819 shares. The stock had previously closed at C$1.28.

Wall Street Analysts Forecast Growth

Separately, Haywood Securities upgraded 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 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$1.60.

Lycos Energy Stock Performance

The firm has a market capitalization of C$78.79 million, a P/E ratio of -1.24 and a beta of 0.43. The stock’s 50 day simple moving average is C$0.84 and its 200 day simple moving average is 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.