Synergy Resources Corp (SYRG) Stock Price Down 3%
Synergy Resources Corp (NASDAQ:SYRG)’s share price was down 3% during mid-day trading on Wednesday . The company traded as low as $6.62 and last traded at $6.70, with a volume of 2,407,805 shares traded. The stock had previously closed at $6.91.
A number of equities analysts recently issued reports on SYRG shares. Cantor Fitzgerald upgraded Synergy Resources Corp to a “buy” rating in a report on Sunday, May 29th. Zacks Investment Research upgraded Synergy Resources Corp from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a report on Wednesday, June 15th. 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 report on Tuesday, June 7th. Roth Capital upgraded Synergy Resources Corp from a “neutral” rating to a “buy” rating and set a $9.00 target price on the stock in a report on Thursday, July 28th. Finally, KLR Group upgraded Synergy Resources Corp from an “accumulate” rating to a “buy” rating and lifted their price target for the company from $7.00 to $9.00 in a report on Monday, July 18th. Three 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 company. The stock presently has an average rating of “Buy” and an average target price of $7.81.
The stock’s 50 day moving average price is $6.62 and its 200-day moving average price is $6.79. The stock’s market capitalization is $1.32 billion.
Synergy Resources Corp (NASDAQ:SYRG) last released its earnings results on Thursday, August 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.02) by $0.04. During the same period in the previous year, the business posted ($0.02) EPS. The business earned $23.90 million during the quarter, compared to analysts’ expectations of $24.90 million. The company’s quarterly revenue was down 15.5% on a year-over-year basis. Equities analysts forecast 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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