Lycos Energy (CVE:LCX) Shares Down 3.9% - What's Next?

Key Points

• Lycos Energy's share price fell by 3.9% to C$1.24, with a significant decrease in trading volume, dropping 98% from the average.
• Equities analysts have revised price targets for the stock downwards, with ATB Capital lowering it from C$2.80 to C$2.25 and National Bankshares cutting theirs from C$4.75 to C$2.00.
• Lycos Energy Inc. is involved in the development and production of petroleum and natural gas primarily in Western Canada, holding assets in Gull Lake and Lloydminster areas.

Lycos Energy Inc. (CVE:LCX - Get Free Report)'s share price traded down 3.9% during trading on Monday . The company traded as low as C$1.23 and last traded at C$1.24. 1,220 shares traded hands during trading, a decline of 98% from the average session volume of 57,920 shares. The stock had previously closed at C$1.29.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. ATB Capital dropped their price target on Lycos Energy from C$2.80 to C$2.25 and set an "outperform" rating for the company in a research note on Tuesday, June 3rd. National Bankshares lowered Lycos Energy from an "outperform" rating to a "sector perform" rating and dropped their price target for the company from C$4.75 to C$2.00 in a research note on Tuesday, June 3rd. BMO Capital Markets dropped their price target on Lycos Energy from C$3.50 to C$2.50 in a research note on Tuesday, June 3rd. Finally, National Bank Financial raised Lycos Energy to a "hold" rating in a research note on Friday, May 30th.

Lycos Energy Trading Down 3.9%

The firm has a market capitalization of C$65.98 million and a P/E ratio of 6.53. The firm has a 50 day moving average price of C$1.31 and a 200-day moving average price of C$1.78.

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.

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