Lycos Energy (CVE:LCX) Stock Price Up 20.3% – Time to Buy?

Lycos Energy Inc. (CVE:LCX) shot up 20.3% on Thursday . The stock traded as high as C$1.58 and last traded at C$1.54. 1,259,017 shares changed hands during trading, an increase of 400% from the average session volume of 251,819 shares. The stock had previously closed at C$1.28.

Analyst Ratings Changes

Separately, Haywood Securities upgraded shares of Lycos Energy from a “hold” rating to a “buy” rating and dropped their price target for the stock 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$1.60.

Lycos Energy Price Performance

The company has a market capitalization of C$79.86 million, a P/E ratio of -1.26 and a beta of 0.43. The firm’s 50-day moving average is C$0.80 and its 200-day moving average is C$1.09.

Lycos Energy Company Profile

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.