RE:RE:RE:Globe and MailGlobe says Surge Energy CEO buying shares
Surge Energy Inc (C:SGY)
Shares Issued 232,970,865
Last Close 4/20/2018 $2.23
Monday April 23 2018 - In the News
The Globe and Mail reports in its Saturday, April 21, edition that over the past three months, Surge Energy ($2.23) chief executive officer Paul Colborne has spent $415,343 buying shares in the public market. The Globe's Ted Dixon writes in the Who's Buying and Selling column that this comes as the company has been buying back shares and increasing cash flow. Fourth quarter adjusted funds flow was 14 cents a basic share, up from 10 cents a year earlier. Mr. Dixon says fundamentals may now be catching the eyes of investors. The stock closed above its 200-day, 50-day and 20-day moving averages on April 10, and has remained above since. The Globe reported on July 5, 2017, that Acumen Capital analyst Trevor Reynolds continued to rate Surge Energy "buy." However, his share target fell to $3.50 from $4.50. The shares could then be had for $2.10. The Globe reported on Nov. 16, 2017, that Laurentian Bank Securities analyst Todd Kepler said Surge Energy "represents good value." He began coverage on the stock with a "buy" rating and $2.80 share target. The shares were then worth $2.01.