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 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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