Morning Mover: Surge Energy Inc. (SGY:CA) Loses 1.06% to Drag on TSX Composite Energy Stocks on February 3

Surge Energy Inc. (SGY:CA) is a clear laggard in the energy sector of the S&P/TSX Composite Index shortly after the opening bell on February 3. Shares of SGY:CA have fallen 1.06% early in the session to $2.79 after closing the day prior at $2.82. So far, the stock has traded as high as $2.85 and as low as $2.78 in morning action. Today's advance has come with about 77,513 shares changing hands, compared to an average 30-day volume of 996,404 for Surge Energy Inc.. The price is currently below the 30-day volume weighted average price of $2.82 for SGY:CA.

The share depreciation gives the energy company a market capitalization of $636.63 million based upon 225.75 million shares outstanding. It also means that Surge Energy Inc has a price-to-book ratio of 0.91:1 and a price-to-earnings ratio of :1.

In the past 52 weeks, shares of SGY:CA have traded as low as $1.81 and as high as $3.45. Technical traders will take note that at $2.79, shares of SGY:CA are trading above their 200-day MA at $2.62 and below their 50-day MA at $3.04. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move beneath or holding under them is typically regarded as bearish.

Who is Surge Energy Inc?

The company’s employees are led by CEO from the corporate headquarters at .

What is the S&P/TSX Composite Index?

Developed and managed by S&P Dow Jones Indices and launched in January 1977, the S&P/TSX Composite is the headline index for the Canadian equity market. Generally, when investors refer to movement in the Canadian markets, they are referring to the S&P/TSX Composite, as it is the broadest index in the S&P/TSX franchise. The index includes more than 230 of the biggest companies traded on the Toronto Stock Exchange, with financials making up the most heavily weighted sector in the index, followed by energy and materials. The Toronto Stock Exchange serves as the distributor of both real-time and historical data for this index.

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