Surge Energy Inc (SGY) Receives Sector Perform Rating from Scotiabank
A number of other brokerages have also recently issued reports on SGY. Royal Bank Of Canada raised their target price on Surge Energy from C$2.75 to C$3.00 and gave the stock a sector perform rating in a report on Thursday. CIBC began coverage on Surge Energy in a report on Wednesday, June 15th. They set an underperform rating and a C$2.50 target price on the stock. TD Securities restated a buy rating and set a C$3.25 target price on shares of Surge Energy in a report on Thursday, August 4th. Paradigm Capital upgraded Surge Energy from a hold rating to a buy rating and raised their target price for the stock from C$2.50 to C$3.00 in a report on Wednesday, September 7th. Finally, FirstEnergy Capital raised their target price on Surge Energy from C$3.00 to C$3.25 and gave the stock an outperform rating in a report on Wednesday, September 7th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Surge Energy currently has an average rating of Buy and a consensus price target of C$2.97.
Shares of Surge Energy (TSE:SGY) traded down 2.41% during midday trading on Thursday, hitting $2.84. The company had a trading volume of 697,102 shares. The firm’s 50-day moving average is $2.50 and its 200-day moving average is $2.39. The firm’s market capitalization is $627.77 million. Surge Energy has a 12-month low of $1.40 and a 12-month high of $3.72.
In other news, Director Paul Colborne bought 10,000 shares of the company’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, with a total value of C$25,800.00.
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