Surge Energy (TSE:SGY) Stock Price Crosses Below 50 Day Moving Average – Time to Sell?

Shares of Surge Energy Inc. (TSE:SGY) passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$6.99 and traded as low as C$6.87. Surge Energy shares last traded at C$7.14, with a volume of 787,160 shares trading hands.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SGY. ATB Capital upped their price target on Surge Energy from C$8.25 to C$9.75 in a research report on Friday, November 21st. Raymond James Financial cut Surge Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$9.08.

Surge Energy Stock Performance

The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 31.48. The firm’s fifty day moving average price is C$6.99 and its two-hundred day moving average price is C$7.01. The stock has a market capitalization of C$706.49 million, a PE ratio of 15.87, a price-to-earnings-growth ratio of 0.59 and a beta of 0.20.

Surge Energy (TSE:SGY) last posted its earnings results on Wednesday, November 5th. The company reported C$0.07 earnings per share (EPS) for the quarter. The business had revenue of C$119.99 million for the quarter. Surge Energy had a negative net margin of 13.88% and a negative return on equity of 10.13%.

About Surge Energy

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.