Lilis Energy Inc (NASDAQ:LLEX) was down 6.6% on Friday . The company traded as low as $3.83 and last traded at $3.83. Approximately 597,684 shares were traded during mid-day trading, an increase of 80% from the average daily volume of 332,488 shares. The stock had previously closed at $4.10.

A number of equities research analysts have recently weighed in on LLEX shares. Seaport Global Securities started coverage on shares of Lilis Energy in a research report on Tuesday, May 23rd. They issued a “buy” rating and a $8.50 price target for the company. Northland Securities downgraded shares of Lilis Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 3rd. Zacks Investment Research cut shares of Lilis Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. Leerink Swann assumed coverage on shares of Lilis Energy in a research note on Monday, August 28th. They set an “outperform” rating and a $6.00 target price on the stock. Finally, SunTrust Banks, Inc. assumed coverage on shares of Lilis Energy in a research note on Monday, August 14th. They set a “buy” rating and a $7.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $6.88.

The firm’s market cap is $194.63 million. The firm has a 50 day moving average price of $3.85 and a 200-day moving average price of $4.36.

Several institutional investors have recently modified their holdings of LLEX. National Asset Management Inc. grew its stake in shares of Lilis Energy by 22.7% in the second quarter. National Asset Management Inc. now owns 21,600 shares of the company’s stock worth $106,000 after purchasing an additional 4,000 shares during the last quarter. Nationwide Fund Advisors bought a new stake in shares of Lilis Energy in the second quarter worth $117,000. Biegel & Waller LLC bought a new stake in shares of Lilis Energy in the second quarter worth $123,000. The Manufacturers Life Insurance Company bought a new stake in shares of Lilis Energy in the second quarter worth $180,000. Finally, Rhumbline Advisers bought a new stake in shares of Lilis Energy in the second quarter worth $219,000.

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About Lilis Energy

Lilis Energy, Inc is an upstream independent oil and gas company. The Company is engaged in the acquisition, drilling and production of oil and natural gas properties and prospects. The Company drills for, operates and produces oil and natural gas wells through its land holdings located in Wyoming, Colorado, and Nebraska.

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