Lycos Energy (CVE:LCX) Trading Down 6.1% - What's Next?

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on LCX shares. National Bankshares cut shares of Lycos Energy from an "outperform" rating to a "sector perform" rating and decreased their price target for the stock from C$4.75 to C$2.00 in a report on Tuesday, June 3rd. ATB Capital decreased their price target on shares of Lycos Energy from C$2.80 to C$2.25 and set an "outperform" rating on the stock in a report on Tuesday, June 3rd. National Bank Financial raised shares of Lycos Energy to a "hold" rating in a report on Friday, May 30th. Finally, BMO Capital Markets decreased their price target on shares of Lycos Energy from C$3.50 to C$2.50 in a report 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.

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.