Lycos Energy (CVE:LCX) Stock Price Up 17.2% – Still a Buy?

Lycos Energy Inc. (CVE:LCX) shares shot up 17.2% during mid-day trading on Thursday . The company traded as high as C$1.58 and last traded at C$1.50. 1,519,888 shares changed hands during mid-day trading, an increase of 484% from the average session volume of 260,059 shares. The stock had previously closed at C$1.28.

Analyst Ratings Changes

Separately, Haywood Securities raised shares of Lycos Energy from a “hold” rating to a “buy” rating and lowered their price target for the company from C$1.50 to C$0.65 in a research report on Monday, December 22nd. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$1.60.

Lycos Energy Stock Performance

The business’s 50-day simple moving average is C$0.80 and its 200 day simple moving average is C$1.09. The firm has a market cap of C$79.32 million, a P/E ratio of -1.25 and a beta of 0.43.

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.