Shares of Synergy Resources Corp (NASDAQ:SYRG) fell 4.6% during mid-day trading on Wednesday . The company traded as low as $6.45 and last traded at $6.59, with a volume of 1,844,271 shares changing hands. The stock had previously closed at $6.91.

A number of brokerages recently issued reports on SYRG. Stephens raised Synergy Resources Corp from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, June 1st. Zacks Investment Research cut Synergy Resources Corp from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Cantor Fitzgerald raised Synergy Resources Corp to a “buy” rating in a research note on Sunday, May 29th. Piper Jaffray Cos. initiated coverage on Synergy Resources Corp in a research note on Thursday, June 23rd. They set an “overweight” rating for the company. Finally, Roth Capital reaffirmed a “hold” rating on shares of Synergy Resources Corp in a research note on Tuesday. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $7.83.

The stock has a 50-day moving average price of $6.64 and a 200 day moving average price of $6.80. The firm’s market capitalization is $985.85 million.

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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