Surge Energy Inc (TSE:SGY) Receives Consensus Rating of “Buy” from Brokerages
Surge Energy Inc (TSE:SGY) has been given an average rating of “Buy” by the eleven ratings firms that are covering the company. Four investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is C$2.96.
SGY has been the subject of several research reports. CIBC initiated coverage on Surge Energy in a research report on Wednesday, June 15th. They issued an “underperform” rating and a C$2.50 target price for the company. Scotiabank reaffirmed a “sector perform” rating and issued a C$3.00 target price on shares of Surge Energy in a research report on Friday, July 22nd. TD Securities reiterated a “buy” rating and set a C$3.25 price objective on shares of Surge Energy in a research note on Friday, July 22nd. National Bank Financial dropped their price objective on Surge Energy from C$3.50 to C$3.00 in a research note on Wednesday, August 3rd. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a C$2.75 price objective on shares of Surge Energy in a research note on Wednesday, September 7th.
Shares of Surge Energy (TSE:SGY) opened at 2.72 on Thursday. The firm has a 50-day moving average of $2.47 and a 200-day moving average of $2.38. Surge Energy has a one year low of $1.40 and a one year high of $3.72. The firm’s market capitalization is $601.25 million.
In other news, Director Paul Colborne purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The shares were acquired at an average price of C$2.58 per share, for a total transaction of C$25,800.00.
About Surge Energy
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