Traders Are Bullish Bonterra Energy Corp After Today’s Gap Up

 Traders Are Bullish Bonterra Energy Corp After Today's Gap Up

The stock of Bonterra Energy Corp (TSE:BNE) gapped up by $0.55 today and has $26.00 target or 4.00% above today’s $25.00 share price. The 5 months technical chart setup indicates low risk for the $793.74 million company. The gap was reported on Nov, 30 by Barchart.com. If the $26.00 price target is reached, the company will be worth $31.75 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 96,657 shares traded hands or 42.35% up from the average. Bonterra Energy Corp (TSE:BNE) has declined 15.15% since April 26, 2016 and is downtrending. It has underperformed by 20.38% the S&P500.

Bonterra Energy Corp (TSE:BNE) Ratings Coverage

Out of 6 analysts covering Bonterra Energy Corp (TSE:BNE), 4 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 67% are positive. $40 is the highest target while $17.50 is the lowest. The $29.02 average target is 16.08% above today’s ($25) stock price. Bonterra Energy Corp has been the topic of 26 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Bonterra Energy Corp (TSE:BNE) earned “Underperform” rating by IBC on Wednesday, June 15. The firm has “Sector Perform” rating given on Friday, August 12 by Scotia Capital. The stock of Bonterra Energy Corp (TSE:BNE) has “Sector Perform” rating given on Friday, November 11 by Scotia Capital. Raymond James maintained Bonterra Energy Corp (TSE:BNE) rating on Monday, June 6. Raymond James has “” rating and $32 price target. Desjardins Securities maintained Bonterra Energy Corp (TSE:BNE) rating on Tuesday, June 28. Desjardins Securities has “” rating and $29 price target. The company was maintained on Friday, August 12 by TD Securities.

Bonterra Energy Corp. is an gas and oil firm that is primarily focused on the development of its Cardium land within the Pembina and Willesden Green areas located in central Alberta. The company has a market cap of $793.74 million. The Firm operates in the development and production of oil and natural gas in the Western Canadian Sedimentary Basin segment. It currently has negative earnings. The Company’s assets consist of natural gas and crude oil assets.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment