SandRidge Permian Trust (NYSE:PER) shot up 6.3% during mid-day trading on Friday . The stock traded as high as $2.55 and last traded at $2.53, with a volume of 190,061 shares traded. The stock had previously closed at $2.38.

Several research firms have issued reports on PER. Zacks Investment Research upgraded shares of SandRidge Permian Trust from a “sell” rating to a “hold” rating in a research note on Thursday, March 31st. Roth Capital restated a “buy” rating on shares of SandRidge Permian Trust in a research note on Tuesday, July 12th.

The firm’s 50-day moving average is $2.48 and its 200-day moving average is $2.54. The firm has a market capitalization of $133.35 million and a P/E ratio of 2.11.

A hedge fund recently raised its stake in SandRidge Permian Trust stock. GSA Capital Partners LLP raised its position in SandRidge Permian Trust (NYSE:PER) by 9.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 531,693 shares of the company’s stock after buying an additional 43,942 shares during the period. GSA Capital Partners LLP owned about 1.01% of SandRidge Permian Trust worth $1,579,000 at the end of the most recent reporting period.

Sandridge Permian Trust is a statutory trust formed under the Delaware Statutory Trust Act pursuant to a trust agreement by and among SandRidge Energy, Inc (SandRidge), as Trustor, The Bank of New York Mellon Trust Company, N.A., as Trustee (the Trustee), and The Corporation Trust Company, as Delaware Trustee (the Delaware Trustee).

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