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Coelacanth Energy (CVE:CEI) Trading Up 1.2% - Here's What Happened

Coelacanth Energy logo with Energy background

Key Points

  • Coelacanth Energy Inc. (CVE:CEI) shares rose by 1.2% on Friday, trading at C$0.85 despite a significant decrease in trading volume, down 65% from the average.
  • The stock has received positive analyst ratings, with a consensus of "Strong Buy" and a target price of C$1.10, following upgrades from Roth Capital and Ventum Capital Markets.
  • Insider trading activity includes 400,356 shares sold in the last 90 days, indicating potential concerns about the company's outlook, despite insiders holding 31.60% of the stock.
  • Five stocks to consider instead of Coelacanth Energy.

Coelacanth Energy Inc. (CVE:CEI - Get Free Report) shares traded up 1.2% on Friday . The stock traded as high as C$0.85 and last traded at C$0.85. 33,000 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 95,221 shares. The stock had previously closed at C$0.84.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CEI. Ventum Financial set a C$1.15 target price on Coelacanth Energy and gave the company a "buy" rating in a report on Wednesday, August 6th. Ventum Cap Mkts raised Coelacanth Energy to a "strong-buy" rating in a report on Wednesday, August 6th. Finally, Roth Capital set a C$1.05 target price on Coelacanth Energy and gave the company a "buy" rating in a report on Monday, July 14th. Three equities research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Strong Buy" and an average target price of C$1.10.

Read Our Latest Analysis on CEI

Coelacanth Energy Stock Performance

The stock has a market cap of C$452.94 million, a P/E ratio of -42.50 and a beta of 0.69. The stock has a 50-day moving average price of C$0.82 and a 200-day moving average price of C$0.84.

Insiders Place Their Bets

In other news, Senior Officer Nolan Gregory Chicoine sold 78,653 shares of Coelacanth Energy stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of C$0.80, for a total transaction of C$62,922.40. Also, Senior Officer John Nandor Fur sold 59,700 shares of the business's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of C$0.80, for a total value of C$47,760.00. In the last 90 days, insiders have sold 400,356 shares of company stock worth $320,493. Insiders own 31.60% of the company's stock.

About Coelacanth Energy

(Get Free Report)

Coelacanth Energy Inc, an oil and natural gas company, engages in the acquisition, development, exploration, and production of oil and natural gas reserves in northeastern British Columbia, Canada. The company owns approximately 150 net sections of Montney acreage located in the Two Rivers area of northeastern British Columbia.

Further Reading

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