Surge Energy Inc. (OTCMKTS:ZPTAF – Get Rating) was the recipient of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 51,200 shares, a decrease of 39.0% from the March 15th total of 84,000 shares. Based on an average trading volume of 260,400 shares, the short-interest ratio is currently 0.2 days.
Several equities research analysts have issued reports on the stock. National Bank Financial raised shares of Surge Energy from a “sector perform” rating to an “outperform” rating in a research note on Thursday. National Bankshares raised shares of Surge Energy to a “buy” rating and set a $14.50 price target on the stock in a research note on Thursday. BMO Capital Markets raised their price target on shares of Surge Energy from C$8.00 to C$11.00 in a research note on Thursday, March 10th. Finally, Stifel Nicolaus raised their price target on shares of Surge Energy from C$9.00 to C$11.50 in a research note on Friday, March 11th.
Shares of ZPTAF stock opened at $7.99 on Friday. Surge Energy has a 1-year low of $2.65 and a 1-year high of $8.03. The firm’s 50-day simple moving average is $6.43 and its 200-day simple moving average is $4.84.
Surge Energy Inc explores for, develops, and produces oil and gas in western Canada. The company holds interest in the Greater Sawn Lake assets located in Northern Alberta; Valhalla/Wembley property located in northwestern Alberta; Sparky assets located between Provost and Wainwright in eastern Alberta and western Saskatchewan; and Shaunavon properties located to the southwest of Swift Current, Saskatchewan.
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