Lycos Energy (CVE:LCX) Sets New 1-Year High – Time to Buy?

Lycos Energy Inc. (CVE:LCX)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as C$2.36 and last traded at C$2.21, with a volume of 155758 shares changing hands. The stock had previously closed at C$2.30.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on LCX shares. National Bank Financial boosted their price objective on Lycos Energy from C$0.70 to C$2.50 and gave the stock a “sector perform” rating in a research note on Wednesday, April 1st. Haywood Securities raised Lycos Energy from a “hold” rating to a “buy” rating and lowered their price objective for the company from C$1.50 to C$0.65 in a research note on Monday, December 22nd. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$1.73.

Lycos Energy Stock Down 4.3%

The company has a market capitalization of C$237.64 million, a PE ratio of -2.37 and a beta of -0.07. The firm’s 50 day simple moving average is C$1.68 and its 200 day simple moving average is C$1.25.

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.