Synergy Resources Corp (NASDAQ:SYRG) dropped 1.9% during mid-day trading on Friday . The stock traded as low as $6.19 and last traded at $6.21, with a volume of 2,728,512 shares changing hands. The stock had previously closed at $6.33.

SYRG has been the subject of a number of recent research reports. Cantor Fitzgerald raised shares of Synergy Resources Corp to a “buy” rating in a report on Sunday, May 29th. Zacks Investment Research raised shares of Synergy Resources Corp from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a report on Wednesday, June 15th. Seaport Global Securities raised shares of Synergy Resources Corp from an “accumulate” rating to a “buy” rating and set a $8.50 target price for the company in a report on Tuesday, June 7th. KLR Group raised shares of Synergy Resources Corp from an “accumulate” rating to a “buy” rating and raised their target price for the company from $7.00 to $9.00 in a report on Monday. Finally, Roth Capital reissued a “hold” rating on shares of Synergy Resources Corp in a report on Tuesday, July 12th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Synergy Resources Corp currently has a consensus rating of “Buy” and an average price target of $8.13.

The stock’s market capitalization is $923.40 million. The company has a 50-day moving average of $6.72 and a 200-day moving average of $6.72.

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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