Synergy Resources Corp (SYRG) Shares Down 4.3%
Synergy Resources Corp (NASDAQ:SYRG) shares were down 4.3% during mid-day trading on Wednesday . The stock traded as low as $6.42 and last traded at $6.51, with a volume of 3,919,336 shares traded. The stock had previously closed at $6.80.
Several research analysts recently issued reports on SYRG shares. Canaccord Genuity reaffirmed a “hold” rating and set a $7.50 target price on shares of Synergy Resources Corp in a research report on Friday, July 29th. Zacks Investment Research lowered Synergy Resources Corp from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Cantor Fitzgerald reaffirmed a “buy” rating and set a $7.50 target price on shares of Synergy Resources Corp in a research report on Wednesday, July 6th. KLR Group raised 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 report on Monday, July 18th. Finally, Simmons started coverage on Synergy Resources Corp in a research report on Thursday, June 23rd. They set an “overweight” rating for the company. Three investment 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 presently has a consensus rating of “Buy” and a consensus target price of $7.81.
The stock’s market capitalization is $1.31 billion. The company’s 50 day moving average price is $6.60 and its 200 day moving average price is $6.83.
Synergy Resources Corp (NASDAQ:SYRG) last announced its earnings results on Thursday, August 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by $0.04. The company had revenue of $23.90 million for the quarter, compared to the consensus estimate of $24.90 million. The business’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.02) EPS. On average, equities research analysts anticipate that Synergy Resources Corp will post ($0.09) earnings per share 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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