Synergy Resources Corp (NASDAQ:SYRG) shares were down 4.6% during trading on Wednesday . The company traded as low as $6.45 and last traded at $6.59, with a volume of 1,844,271 shares trading hands. The stock had previously closed at $6.91.

A number of research analysts have commented on SYRG shares. Raymond James Financial Inc. started coverage on Synergy Resources Corp in a research note on Friday, June 17th. They issued a “strong-buy” rating on the stock. Simmons started coverage on Synergy Resources Corp in a research note on Thursday, June 23rd. They issued an “overweight” rating on the stock. Seaport Global Securities upgraded Synergy Resources Corp from an “accumulate” rating to a “buy” rating and set a $8.50 target price on the stock in a research note on Tuesday, June 7th. Roth Capital restated a “hold” rating on shares of Synergy Resources Corp in a research note on Tuesday. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $7.50 target price on shares of Synergy Resources Corp in a research note on Wednesday, July 6th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $7.83.

The firm has a 50 day moving average price of $6.69 and a 200 day moving average price of $6.80. The company’s market capitalization is $963.54 million.

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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