Synergy Resources Corp (NASDAQ:SYRG) shares rose 7.7% during mid-day trading on Tuesday . The company traded as high as $7.18 and last traded at $7.11, with a volume of 2,304,295 shares traded. The stock had previously closed at $6.60.

SYRG has been the subject of a number of analyst reports. Raymond James Financial Inc. initiated coverage on Synergy Resources Corp in a research report on Friday, June 17th. They set a “strong-buy” rating for the company. Seaport Global Securities upgraded Synergy Resources Corp from an “accumulate” rating to a “buy” rating and set a $8.50 price target for the company in a research report on Tuesday, June 7th. Simmons began coverage on Synergy Resources Corp in a research report on Thursday, June 23rd. They set an “overweight” rating for the company. Cantor Fitzgerald reissued a “buy” rating and issued a $7.50 price objective on shares of Synergy Resources Corp in a research note on Wednesday, July 6th. Finally, Piper Jaffray Cos. began coverage on Synergy Resources Corp in a research note on Thursday, June 23rd. They issued an “overweight” rating on the stock. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Synergy Resources Corp presently has an average rating of “Buy” and a consensus price target of $7.83.

The firm’s 50-day moving average is $6.61 and its 200-day moving average is $6.80. The firm’s market cap is $1.03 billion.

Synergy Resources Corporation is a shell company. The Company is an oil and natural gas company. The Company is engaged in the acquisition, development and production of crude oil and natural gas in and around the Denver-Julesburg Basin (D-J Basin) of Colorado. The D-J Basin has hydrocarbon-bearing deposits in several formations, including the Niobrara, Codell, Greenhorn, Shannon, Sussex, J-Sand and D-Sand.

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