Short Interest in Surge Energy Inc. (OTCMKTS:ZPTAF) Decreases By 42.9%

Surge Energy Inc. (OTCMKTS:ZPTAF) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 1,756,700 shares, a drop of 42.9% from the August 15th total of 3,078,800 shares. Based on an average daily trading volume, of 63,700 shares, the days-to-cover ratio is presently 27.6 days. Based on an average daily trading volume, of 63,700 shares, the days-to-cover ratio is presently 27.6 days.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ZPTAF shares. National Bankshares restated an “outperform” rating on shares of Surge Energy in a research note on Wednesday, July 30th. Roth Capital started coverage on Surge Energy in a research note on Monday, July 14th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $9.00.

Surge Energy Price Performance

OTCMKTS:ZPTAF opened at $4.94 on Friday. The stock’s 50 day simple moving average is $5.07 and its 200-day simple moving average is $4.32. Surge Energy has a 12-month low of $3.11 and a 12-month high of $5.74.

Surge Energy Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a $0.0317 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a dividend yield of 757.0%. Surge Energy’s payout ratio is presently 104.97%.

Surge Energy Company Profile

Surge Energy Inc explores, develops, and produces oil and gas in western Canada. Its principal properties are located in the areas of Sparky, Southeast Saskatchewan, Carbonates, Valhalla, and Shaunavon in Alberta and Saskatchewan. The company was formerly known as Zapata Energy Corporation and changed its name to Surge Energy Inc in June 2010.