Will Surge Energy Inc Short Squeeze Soon? The Stock Just Gapped Up

 Will Surge Energy Inc Short Squeeze Soon? The Stock Just Gapped Up

The stock of Surge Energy Inc (TSE:SGY) gapped up by $0.03 today and has $2.89 target or 5.00% above today’s $2.75 share price. The 9 months technical chart setup indicates low risk for the $577.30M company. The gap was reported on Nov, 30 by Barchart.com. If the $2.89 price target is reached, the company will be worth $28.87M 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 1.40M shares traded hands or 25.00% up from the average. Surge Energy Inc (TSE:SGY) has risen 10.04% since April 26, 2016 and is uptrending. It has outperformed by 4.82% the S&P500.

Surge Energy Inc (TSE:SGY) Ratings Coverage

Out of 9 analysts covering Surge Energy Inc (TSE:SGY), 5 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 56% are positive. $4.25 is the highest target while $2 is the lowest. The $2.90 average target is 5.45% above today’s ($2.75) stock price. Surge Energy Inc has been the topic of 20 analyst reports since November 10, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by TD Securities on Friday, July 22. Canaccord Genuity downgraded Surge Energy Inc (TSE:SGY) on Tuesday, January 19 to “Speculative Buy” rating. The company was initiated on Wednesday, June 15 by IBC. The firm has “Buy” rating given on Tuesday, January 12 by Mackie. The stock of Surge Energy Inc (TSE:SGY) has “Sector Perform” rating given on Thursday, December 10 by RBC Capital Markets. RBC Capital Markets maintained Surge Energy Inc (TSE:SGY) rating on Wednesday, September 7. RBC Capital Markets has “Sector Perform” rating and $2.75 price target. The stock of Surge Energy Inc (TSE:SGY) earned “Sector Perform” rating by Scotia Capital on Friday, July 22.

Another recent and important Surge Energy Inc (TSE:SGY) news was published by Business.Financialpost.com which published an article titled: “Surge Energy Inc upgraded as active drilling pays off” on September 28, 2016.

Surge Energy Inc. is a Canada-based gas and oil exploration, development and production company. The company has a market cap of $577.30 million. The Company’s principal oil and natural gas producing properties are located in Alberta and Saskatchewan, and focused on over three core areas: Western Alberta, Southeast Alberta and Southwest Saskatchewan. It currently has negative earnings. The properties in Northern Alberta include Valhalla/Wembley, Nipisi, Windfall and Nevis.

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