Coelacanth Energy (CVE:CEI) Reaches New 1-Year Low – Should You Sell?

Coelacanth Energy Inc. (CVE:CEI) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as C$0.68 and last traded at C$0.68, with a volume of 145142 shares changing hands. The stock had previously closed at C$0.69.

Wall Street Analysts Forecast Growth

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

Coelacanth Energy Price Performance

The company’s 50 day simple moving average is C$0.75 and its 200 day simple moving average is C$0.81. The firm has a market cap of C$431.02 million, a price-to-earnings ratio of -43.00 and a beta of 0.10.

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.