Logan Energy (CVE:LGN) Stock Price Up 6.3% - Here's Why

Logan Energy Corp. (CVE:LGN - Get Free Report) shares traded up 6.3% on Tuesday . The company traded as high as C$0.68 and last traded at C$0.68. 189,744 shares changed hands during mid-day trading, a decline of 30% from the average session volume of 269,407 shares. The stock had previously closed at C$0.64.

Analysts Set New Price Targets

Separately, Cormark upgraded Logan Energy to a "moderate buy" rating in a report on Thursday, March 20th. Two research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Strong Buy" and an average price target of C$1.58.

Logan Energy Trading Up 1.5%

The company has a market cap of C$381.43 million and a price-to-earnings ratio of 19.09. The business has a fifty day moving average price of C$0.61 and a two-hundred day moving average price of C$0.66.

Insider Activity

In other news, Senior Officer Brendan Archibald Paton acquired 50,000 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were purchased at an average price of C$0.52 per share, for a total transaction of C$26,000.00. 22.85% of the stock is owned by corporate insiders.

About Logan Energy

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.