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Surge Energy (TSE:SGY) Upgraded by Raymond James Financial to Moderate Buy Rating

Surge Energy logo with Energy background

Surge Energy (TSE:SGY - Get Free Report) was upgraded by research analysts at Raymond James Financial from a "hold" rating to a "moderate buy" rating in a report released on Thursday, Marketbeat.com reports. The brokerage currently has a C$8.00 price target on the stock, up from their previous price target of C$6.00. Raymond James Financial's price objective indicates a potential upside of 28.62% from the stock's current price.

Surge Energy Price Performance

TSE:SGY traded up C$0.13 during trading hours on Thursday, hitting C$6.22. 352,624 shares of the stock were exchanged, compared to its average volume of 553,894. The firm's fifty day moving average price is C$5.57 and its 200 day moving average price is C$5.55. Surge Energy has a 52-week low of C$4.37 and a 52-week high of C$7.36. The company has a market cap of C$625.50 million, a P/E ratio of -7.80, a P/E/G ratio of 0.59 and a beta of 2.54. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 31.48.

Insiders Place Their Bets

In other Surge Energy news, Senior Officer Murray Bye acquired 11,845 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was bought at an average price of C$4.88 per share, with a total value of C$57,803.60. Insiders own 1.97% of the company's stock.

About Surge Energy

(Get Free Report)

Surge Energy Inc is engaged in the exploration, development, and production of oil and gas from properties in western Canada. The company generates its revenue from the sale of petroleum and natural gas products such as Oil, Natural gas liquids and Natural gas, of which a majority of the revenue is derived from the sale of oil.

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