SRC Energy Inc (SRCI) Sees Significant Growth in Short Interest
SRC Energy Inc (NYSEAMERICAN:SRCI) saw a significant increase in short interest in January. As of January 31st, there was short interest totalling 32,504,594 shares, an increase of 0.7% from the January 12th total of 32,275,620 shares. Currently, 13.6% of the shares of the company are sold short. Based on an average trading volume of 3,886,730 shares, the short-interest ratio is currently 8.4 days.
Shares of SRC Energy (NYSEAMERICAN SRCI) opened at $8.62 on Wednesday. The stock has a market capitalization of $2,110.00, a price-to-earnings ratio of 17.96 and a beta of 1.57. SRC Energy has a 12-month low of $6.19 and a 12-month high of $10.44.
Several equities analysts have recently issued reports on SRCI shares. Credit Suisse Group started coverage on SRC Energy in a report on Monday, December 11th. They issued an “underperform” rating and a $8.00 target price for the company. SunTrust Banks reiterated a “buy” rating and issued a $12.00 price objective on shares of SRC Energy in a research note on Friday, October 27th. Royal Bank of Canada reiterated a “buy” rating and issued a $13.00 price objective on shares of SRC Energy in a research note on Tuesday, November 7th. Robert W. Baird dropped their price objective on SRC Energy from $12.00 to $11.00 and set an “outperform” rating on the stock in a research note on Monday, December 18th. Finally, Zacks Investment Research downgraded SRC Energy from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $12.13.
SRC Energy Company Profile
SRC Energy Inc, formerly Synergy Resources Corporation, is an independent oil and natural gas company. The Company is engaged in the acquisition, development and production of crude oil and natural gas in and around the Denver-Julesburg Basin (D-J Basin) of Colorado. The D-J Basin generally extends from the Denver metropolitan area throughout northeast Colorado into Wyoming, Nebraska, and Kansas.
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