NEW YORK (TheStreet) -- Sandridge Energy (SD) hit a one-year high on Monday as the company continued its gains from late last week after Jim Cramer spoke bullishly about the stock on CNBC's Mad Money on Wednesday evening.
The stock hit a high of $6.98 for the day as of 3 p.m. More than 12.5 million shares had changed hands, which surpassed the average volume of 8,560,540.
Cramer said on the show that Wall Street seems to hate the stock even though the oil and natural gas exploration company's turnaround is in plain sight.
"The former CEO practically ran the company into the ground. Because of mismanagement and other factors, shares tumbled from $67 in 2008 to the single digits. And the stock never really bounced back," Cramer said. He added "because SandRidge is so hated by Wall Street, the analysts can't see the incredible turnaround happening in front of their faces."
Cramer went on to note "since new CEO James Bennett took over, SandRidge has delivered three consecutive quarters where the company beat the estimates and raised guidance."
Separately, TheStreet Ratings team rates SANDRIDGE ENERGY INC as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate SANDRIDGE ENERGY INC (SD) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and generally higher debt management risk."