Logan Energy (CVE:LGN) Trading 6.3% Higher – Here’s Why

Logan Energy Corp. (CVE:LGN)’s share price rose 6.3% on Tuesday . The company traded as high as C$0.68 and last traded at C$0.68. Approximately 189,744 shares traded hands during mid-day trading, a decline of 30% from the average daily volume of 269,407 shares. The stock had previously closed at C$0.64.

Wall Street Analysts Forecast Growth

Separately, Cormark raised shares of Logan Energy to a “moderate buy” rating in a research report on Thursday, March 20th. Two analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Strong Buy” and a consensus price target of C$1.58.

Logan Energy Stock Up 6.3%

The company’s fifty day moving average is C$0.60 and its two-hundred day moving average is C$0.66. The firm has a market capitalization of C$392.98 million and a price-to-earnings ratio of 19.67.

Insider Buying and Selling

In related news, Senior Officer Brendan Archibald Paton purchased 50,000 shares of Logan Energy stock in a transaction dated Monday, April 7th. The stock was bought 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 insiders.

Logan Energy Company Profile

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.