Lucero Energy (CVE:LOU) Shares Up 1.1% - Here's What Happened

Lucero Energy Corp. (CVE:LOU - Get Free Report)'s share price shot up 1.1% during trading on Thursday . The stock traded as high as C$0.45 and last traded at C$0.45. 88,500 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 205,040 shares. The stock had previously closed at C$0.45.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on LOU shares. BMO Capital Markets dropped their price objective on shares of Lucero Energy from C$0.75 to C$0.60 in a report on Friday, December 13th. Canaccord Genuity Group cut Lucero Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Canaccord Genuity Group downgraded shares of Lucero Energy from a "buy" rating to a "hold" rating and decreased their price target for the company from C$0.80 to C$0.45 in a research note on Tuesday, December 17th. CIBC lowered Lucero Energy from a "neutral" rating to a "tender" rating and lowered their target price for the stock from C$0.65 to C$0.47 in a research report on Tuesday, December 17th. Finally, Haywood Securities cut shares of Lucero Energy from a "buy" rating to a "tender" rating and dropped their price target for the company from C$0.80 to C$0.49 in a research report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of C$0.55.

Lucero Energy Price Performance

The firm has a market cap of C$289.99 million, a price-to-earnings ratio of 5.69 and a beta of 1.72. The stock has a fifty day simple moving average of C$0.43.

Lucero Energy Company Profile

Lucero Energy Corp., an independent oil company, engages in the acquisition, development, and production of oil-weighted assets in the Bakken and Three Forks formations in the Williston Basin area of North Dakota. The company was formerly known as PetroShale Inc and changed its name to Lucero Energy Corp.