Lycos Energy (CVE:LCX) Stock Price Down 6.1% - Here's What Happened

Shares of Lycos Energy Inc. (CVE:LCX - Get Free Report) fell 6.1% on Wednesday . The stock traded as low as C$1.23 and last traded at C$1.23. 3,125 shares traded hands during trading, a decline of 95% from the average session volume of 63,494 shares. The stock had previously closed at C$1.31.

Wall Street Analysts Forecast Growth

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

Lycos Energy Price Performance

The stock's 50 day simple moving average is C$1.51 and its two-hundred day simple moving average is C$1.97. The firm has a market cap of C$69.17 million and a P/E ratio of 6.84.

Lycos Energy Company Profile

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.