Synergy Resources Corp (SYRG) Trading Down 3.5%
Synergy Resources Corp (NASDAQ:SYRG)’s share price 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 changing hands. The stock had previously closed at $7.20.
Several research firms have recently issued reports on SYRG. Citigroup Inc. set a $7.50 target price on Synergy Resources Corp and gave the company a “buy” rating in a report on Thursday, August 11th. Stephens raised Synergy Resources Corp from an “equal weight” rating to an “overweight” rating in a report on Wednesday, June 1st. Roth Capital reaffirmed a “hold” rating on shares of Synergy Resources Corp in a report on Tuesday, July 12th. BMO Capital Markets lowered Synergy Resources Corp from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $8.00 to $6.00 in a report on Monday, August 8th. Finally, Zacks Investment Research raised 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. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $7.81.
The stock’s market cap is $1.42 billion. The company’s 50-day moving average is $6.61 and its 200-day moving average is $6.76.
Synergy Resources Corp (NASDAQ:SYRG) last posted its earnings results on Thursday, August 4th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.04. During the same period in the previous year, the business posted ($0.02) earnings per share. The business had revenue of $23.90 million for the quarter, compared to analyst estimates of $24.90 million. The company’s revenue for the quarter was down 15.5% compared to the same quarter last year. Analysts expect that Synergy Resources Corp will post ($0.08) EPS for the current 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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