Surge Energy Inc. (OTCMKTS:ZPTAF) Short Interest Update

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Surge Energy Inc. (OTCMKTS:ZPTAF) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 43,600 shares, a growth of 185.0% from the March 15th total of 15,300 shares. Based on an average daily trading volume, of 49,200 shares, the days-to-cover ratio is currently 0.9 days.

Shares of ZPTAF stock opened at $0.46 on Wednesday. Surge Energy has a 12 month low of $0.11 and a 12 month high of $0.60. The stock has a 50-day moving average price of $0.49 and a 200 day moving average price of $0.29.

A number of research analysts have issued reports on ZPTAF shares. National Bank Financial reissued a “sector perform” rating on shares of Surge Energy in a report on Friday, February 19th. Stifel Nicolaus raised shares of Surge Energy from a “hold” rating to a “buy” rating and lifted their price target for the company from $0.75 to $1.00 in a report on Monday, March 8th. BMO Capital Markets upped their price objective on shares of Surge Energy from $0.45 to $0.75 and gave the stock a “market perform” rating in a research note on Monday, March 8th. Raymond James upgraded shares of Surge Energy from an “underperform” rating to a “market perform” rating in a research note on Thursday, March 11th. Finally, CIBC boosted their target price on Surge Energy from $0.50 to $1.00 and gave the stock a “neutral” rating in a report on Wednesday, March 10th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $0.71.

Surge Energy Company Profile

Surge Energy Inc explores for, develops, and produces oil and gas in western Canada. The company holds interest in the Greater Sawn Lake assets located in Northern Alberta; Valhalla/Wembley property located in northwestern Alberta; Sparky assets located between Provost and Wainwright in eastern Alberta and western Saskatchewan; and Shaunavon properties located to the southwest of Swift Current, Saskatchewan.

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