Canaccord Genuity analyst Anthony Petrucci maintained a Hold rating on Surge Energy (ZPTAF) today and set a price target of C$0.30. The company’s shares closed last Tuesday at $0.16, close to its 52-week low of $0.11.
According to TipRanks.com, Petrucci is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -21.2% and a 26.1% success rate. Petrucci covers the Utilities sector, focusing on stocks such as Tamarack Valley Energy, Crescent Point Energy, and PrairieSky Royalty.
Currently, the analyst consensus on Surge Energy is a Hold with an average price target of $0.30, implying an 87.5% upside from current levels. In a report issued on November 2, CIBC also maintained a Hold rating on the stock with a C$0.40 price target.
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Based on Surge Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $31.62 million and GAAP net loss of $61.16 million. In comparison, last year the company earned revenue of $108 million and had a GAAP net loss of $2.61 million.
Based on the recent corporate insider activity of 94 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ZPTAF in relation to earlier this year.
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Surge Energy, Inc. engages in the exploration, development, and production of oil and gas properties. Its properties include Greater Sawn, Valhalla, Sparky, Shaunavon, and Minors that are located in Alberta and Saskatchewan. The company was founded on January 26, 1998 and is headquartered in Calgary, Canada.
