Coelacanth Energy (CVE:CEI) Sets New 52-Week Low – Here’s Why

Coelacanth Energy Inc. (CVE:CEI)’s share price reached a new 52-week low during trading on Thursday. The stock traded as low as C$0.64 and last traded at C$0.66, with a volume of 335,260 shares traded. The stock had previously closed at C$0.67.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. TD set a C$0.80 target price on shares of Coelacanth Energy and gave the stock a “hold” rating in a research report on Tuesday, September 8th. TD Securities upgraded Coelacanth Energy to a “hold” rating in a research report on Wednesday, September 9th. Two investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat, Coelacanth Energy presently has a consensus rating of “Hold” and an average price target of C$0.80.

Coelacanth Energy Stock Performance

The company has a market cap of C$431.29 million, a PE ratio of -43.00 and a beta of 0.30. The firm has a fifty day simple moving average of C$0.70 and a 200 day simple moving average of C$0.79.

Coelacanth Energy Company Profile

Coelacanth Energy Inc, an oil and natural gas company, engages in the acquisition, development, exploration, and production of oil and natural gas reserves in northeastern British Columbia, Canada. The company owns approximately 150 net sections of Montney acreage located in the Two Rivers area of northeastern British Columbia. Coelacanth Energy Inc was incorporated in 2022 and is headquartered in Calgary, Canada.