Shares of Surge Energy Inc. (TSE:SGY) rose 10% on Monday . The company traded as high as C$0.67 and last traded at C$0.66. Approximately 2,149,439 shares traded hands during trading, an increase of 50% from the average daily volume of 1,432,633 shares. The stock had previously closed at C$0.60.
SGY has been the topic of a number of research reports. Stifel Firstegy raised Surge Energy from a “hold” rating to a “buy” rating in a research note on Friday, March 5th. National Bankshares set a C$0.90 price objective on Surge Energy and gave the stock a “sector perform” rating in a research note on Friday, May 14th. Cormark reissued a “buy” rating and issued a C$1.30 price objective on shares of Surge Energy in a research note on Monday, May 17th. Canaccord Genuity increased their price objective on Surge Energy from C$0.50 to C$1.00 in a research note on Monday, March 8th. Finally, BMO Capital Markets increased their price objective on Surge Energy from C$0.75 to C$1.00 and gave the stock a “na” rating in a research note on Monday, March 15th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Surge Energy presently has an average rating of “Hold” and a consensus price target of C$1.03.
The firm has a market capitalization of C$261.64 million and a P/E ratio of -1.64. The company has a debt-to-equity ratio of 24,891.33, a current ratio of 0.13 and a quick ratio of 0.11. The firm’s fifty day moving average is C$0.57.
Surge Energy (TSE:SGY) last released its earnings results on Friday, May 14th. The company reported C($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.02) by C($0.01). The firm had revenue of C$80.69 million during the quarter. On average, sell-side analysts predict that Surge Energy Inc. will post 0.12 earnings per share for the current fiscal year.
Surge Energy Company Profile (TSE:SGY)
Surge Energy Inc explores for, develops, and produces oil and gas in western Canada. The company holds interest in the Greater Sawn Lake assets located in Northern Alberta; Valhalla/Wembley property located in northwestern Alberta; Sparky assets located between Provost and Wainwright in eastern Alberta and western Saskatchewan; and Shaunavon properties located to the southwest of Swift Current, Saskatchewan.
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