Synergy Resources Corp (NASDAQ:SYRG) shares fell 3.5% during mid-day trading on Wednesday . The stock traded as low as $6.88 and last traded at $6.95, with a volume of 3,210,235 shares traded. The stock had previously closed at $7.20.

A number of brokerages have recently issued reports on SYRG. BMO Capital Markets cut shares of Synergy Resources Corp from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $8.00 to $6.00 in a research note on Monday, August 8th. Stephens upgraded shares of Synergy Resources Corp from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, June 1st. KLR Group upgraded shares of Synergy Resources Corp from an “accumulate” rating to a “buy” rating and raised their target price for the stock from $7.00 to $9.00 in a research note on Monday, July 18th. Zacks Investment Research cut shares of Synergy Resources Corp from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Finally, Cantor Fitzgerald upgraded shares of Synergy Resources Corp to a “buy” rating in a research note on Sunday, May 29th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $7.81.

The firm’s 50 day moving average is $6.59 and its 200-day moving average is $6.75. The stock’s market capitalization is $1.40 billion.

Synergy Resources Corp (NASDAQ:SYRG) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by $0.04. The firm earned $23.90 million during the quarter, compared to the consensus estimate of $24.90 million. During the same period last year, the business posted ($0.02) earnings per share. The firm’s revenue was down 15.5% on a year-over-year basis. Analysts anticipate that Synergy Resources Corp will post ($0.08) EPS for the current fiscal year.

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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