Lycos Energy (CVE:LCX) Trading Up 17.2% – Should You Buy?

Lycos Energy Inc. (CVE:LCX)’s stock price shot up 17.2% during mid-day trading on Thursday . The company traded as high as C$1.58 and last traded at C$1.50. 1,100,367 shares traded hands during trading, an increase of 368% from the average session volume of 235,147 shares. The stock had previously closed at C$1.28.

Wall Street Analysts Forecast Growth

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

Lycos Energy Stock Performance

The company has a market cap of C$82.52 million, a PE ratio of -1.30 and a beta of 0.43. The business’s 50-day moving average is C$0.80 and its 200 day moving average is C$1.09.

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.