Coelacanth Energy Receives Upgrade to 'Strong-Buy' Rating by Atb Cap Markets

Coelacanth Energy (CVE:CEI) has received a significant boost as Atb Cap Markets upgraded its rating to a "strong-buy" in a report released on Thursday. This positive assessment highlights the company's potential in the energy sector and encourages investors to take a closer look at its stock.

Coelacanth Energy Alerts:

Coelacanth Energy Price Performance

On Thursday, shares of Coelacanth Energy commenced trading at C$0.90. The company boasts a market capitalization of C$477.12 million and has a P/E ratio of -90.00. The stock displays a beta of 0.98, indicating its volatility relative to the overall market. Currently, the company’s 50-day moving average stands at C$0.82. Over the past year, Coelacanth Energy has seen its stock hit a low of C$0.69 and a high of C$0.94.

Insider Trading Activities

Recent insider transactions reveal some interesting movements in the company’s stock. Senior Officer Nolan Gregory Chicoine sold 38,535 shares on December 5th at an average price of C$0.85, accumulating a total of C$32,754.75 from the sale. In the last three months, insiders have sold a total of 57,800 shares, representing a value of approximately $48,721. It’s noteworthy that company insiders currently hold about 31.60% of the total shares.

Understanding Coelacanth Energy

Coelacanth Energy Inc is an oil and natural gas company primarily involved in acquiring, developing, exploring, and producing oil and natural gas reserves. The company operates mainly in northeastern British Columbia, Canada, and has a strong position with about 150 net sections of Montney acreage located in the Two Rivers region. This strategic landholding allows Coelacanth Energy to explore significant potential in oil and natural gas production.

Conclusion

The upgrade by Atb Cap Markets to a "strong-buy" rating is a notable development for Coelacanth Energy and can influence investor sentiment moving forward. It brings attention to the company's growth opportunities in the energy sector.

Coelacanth, Energy, Stocks