Lycos Energy (CVE:LCX) Stock Price Down 5.1% - Here's What Happened

Key Points

• Lycos Energy shares fell 5.1% intraday to C$2.22 (low C$2.17) with 214,221 shares traded, about 51% below the average session volume.
• National Bank Financial upgraded the stock from "hold" to "outperform" and raised its price target to C$3.00, while the analyst consensus is a "Moderate Buy" (three Buys, one Hold) with a consensus price target of C$1.85.
• Company snapshot: Lycos is a junior oil & gas producer in Western Canada with a market cap of C$243.04M, a negative P/E (−2.42), and 50‑day/200‑day SMAs of C$1.90/C$1.32.

Lycos Energy Inc. (CVE:LCX - Get Free Report)'s share price fell 5.1% during mid-day trading on Thursday . The company traded as low as C$2.17 and last traded at C$2.22. 214,221 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 433,211 shares. The stock had previously closed at C$2.34.

Wall Street Analyst Weigh In

Separately, National Bank Financial upgraded Lycos Energy from a "hold" rating to an "outperform" rating and boosted their price target for the stock from C$2.50 to C$3.00 in a report on Thursday, April 23rd. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$1.85.

Lycos Energy Stock Performance

The stock has a market cap of C$243.04 million, a P/E ratio of -2.42 and a beta of 0.12. The business has a 50 day simple moving average of C$1.90 and a 200-day simple moving average of C$1.32.

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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