Surge Energy (TSE:SGY) Stock Price Passes Above Fifty Day Moving Average – What’s Next?

Surge Energy Inc. (TSE:SGY)’s share price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$7.81 and traded as high as C$8.93. Surge Energy shares last traded at C$8.76, with a volume of 695,124 shares changing hands.

Analyst Ratings Changes

Separately, Raymond James Financial lowered Surge Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Surge Energy has a consensus rating of “Buy” and a consensus price target of C$9.08.

Surge Energy Stock Up 1.5%

The company has a current ratio of 0.78, a quick ratio of 0.40 and a debt-to-equity ratio of 33.64. The stock’s 50-day simple moving average is C$7.81 and its 200-day simple moving average is C$7.26. The firm has a market capitalization of C$865.85 million, a P/E ratio of 21.90, a P/E/G ratio of 0.59 and a beta of 0.14.

Surge Energy (TSE:SGY) last posted its earnings results on Wednesday, March 4th. The company reported C$0.55 EPS for the quarter. Surge Energy had a net margin of 7.21% and a return on equity of 5.47%. The firm had revenue of C$111.40 million for the quarter.

Insider Activity at Surge Energy

In related news, Director Allison Michelle Maher sold 8,999 shares of Surge Energy stock in a transaction on Thursday, March 12th. The stock was sold at an average price of C$8.56, for a total transaction of C$77,031.44. Following the sale, the director directly owned 17,612 shares in the company, valued at approximately C$150,758.72. This trade represents a 33.82% decrease in their ownership of the stock. Insiders own 1.97% of the company’s stock.

Surge Energy Company Profile

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.