Coelacanth Energy (CVE:CEI) Receives 'Strong-Buy' Upgrade from Atb Cap Markets

On Thursday, Coelacanth Energy (CVE:CEI) received a notable upgrade from Atb Cap Markets, which raised its rating to a "strong-buy". This upgrade reflects positive sentiment regarding the company's future potential in the oil and natural gas sector.

Coelacanth Energy's Stock Performance

As of Thursday, the shares of Coelacanth Energy opened at C$0.90. The company currently holds a market capitalization of C$477.12 million and has a P/E ratio of -90.00, indicating that the company hasn't reported positive earnings per share in the last year. The stock has a beta of 0.98, suggesting it is close to the market's volatility level. Over the last 50 days, the stock has maintained an average price of C$0.82. Coelacanth Energy's stock has fluctuated within the past year, reaching a low of C$0.69 and a high of C$0.94.

Insider Activity

In related news, there was recent insider trading activity. Senior Officer Nolan Gregory Chicoine sold 38,535 shares on December 5th at an average price of C$0.85, resulting in a total transaction value of C$32,754.75. Over the past three months, insiders have sold a total of 57,800 shares worth approximately C$48,721. Insiders currently own 31.60% of Coelacanth Energy's total stock.

Company Overview

Coelacanth Energy Inc is engaged in the acquisition, development, exploration, and production of oil and natural gas reserves in northeastern British Columbia, Canada. The company has approximately 150 net sections of Montney acreage located in the Two Rivers area, which offers significant opportunities for resource extraction.

Conclusion

The recent upgrade from Atb Cap Markets to a "strong-buy" rating signifies a bullish outlook for Coelacanth Energy. Investors may want to monitor the stock closely, especially in light of recent insider activity and the overall performance metrics that the company has exhibited.

Coelacanth, Upgrade, Stock