Surge Energy Inc (TSE:SGY) reached a new 52-week low on Friday . The stock traded as low as C$1.04 and last traded at C$1.08, with a volume of 3087787 shares traded. The stock had previously closed at C$1.07.
Several equities research analysts have weighed in on SGY shares. Raymond James reiterated an “outperform” rating and issued a C$1.75 price objective on shares of Surge Energy in a report on Tuesday. TD Securities increased their price objective on Surge Energy from C$1.65 to C$1.75 and gave the stock a “buy” rating in a report on Tuesday. National Bank Financial dropped their price objective on Surge Energy from C$2.25 to C$1.75 and set an “outperform” rating for the company in a report on Tuesday, June 25th. CIBC dropped their price objective on Surge Energy from C$2.25 to C$1.75 in a report on Thursday, July 18th. Finally, Canaccord Genuity dropped their price objective on Surge Energy from C$2.25 to C$2.00 in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of C$2.32.
The stock has a market cap of $332.89 million and a P/E ratio of -3.63. The firm has a 50-day moving average price of C$1.24 and a 200-day moving average price of C$1.32. The company has a debt-to-equity ratio of 56.97, a quick ratio of 0.69 and a current ratio of 0.79.
About Surge Energy (TSE:SGY)
Surge Energy Inc engages in the exploration, development, and production of oil and gas in western Canada. It holds interest in the Greater Sawn Lake assets located in Northern Alberta; Nipisi property located to the north of the town of Slave Lake in northwestern Alberta; and Valhalla/Wembley property located to the northwest of Grand Prairie in northwestern Alberta.
Further Reading: Oversold
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