SurgePays (NASDAQ:SURG) Stock Crosses Above 200 Day Moving Average of $5.68

SurgePays, Inc. (NASDAQ:SURG – Get Rating)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.68 and traded as high as $6.08. SurgePays shares last traded at $6.07, with a volume of 115,284 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Maxim Group increased their target price on SurgePays from $10.00 to $15.00 in a research note on Thursday, December 1st.

SurgePays Stock Performance

The company has a market capitalization of $83.95 million, a PE ratio of -5.19 and a beta of 1.56. The company has a debt-to-equity ratio of 11.98, a quick ratio of 0.65 and a current ratio of 1.00. The company has a 50 day moving average price of $6.48 and a 200 day moving average price of $5.68.

SurgePays (NASDAQ:SURG – Get Rating) last announced its quarterly earnings data on Monday, November 14th. The medical equipment provider reported ($0.12) earnings per share (EPS) for the quarter. SurgePays had a negative return on equity of 492.78% and a negative net margin of 10.58%. The firm had revenue of $36.17 million for the quarter.

Hedge Funds Weigh In On SurgePays

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in SurgePays by 32.7% during the third quarter. Vanguard Group Inc. now owns 408,942 shares of the medical equipment provider’s stock worth $1,861,000 after purchasing an additional 100,866 shares during the last quarter. Ridgewood Investments LLC bought a new position in SurgePays during the third quarter worth $221,000. Jane Street Group LLC bought a new position in SurgePays during the third quarter worth $147,000. Shay Capital LLC bought a new position in SurgePays during the first quarter worth $107,000. Finally, State Street Corp lifted its stake in SurgePays by 131.5% during the third quarter. State Street Corp now owns 25,700 shares of the medical equipment provider’s stock worth $117,000 after purchasing an additional 14,600 shares during the last quarter. 8.31% of the stock is currently owned by institutional investors.

About SurgePays

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SurgePays, Inc operates as a technology-driven company, which focuses on building a supply chain software platform as an alternative to traditional wholesale supply chain distribution models. It offers goods and services direct to convenience stores, bodegas, minimarts, tiendas and other corner stores, providing goods and services primarily to the underbanked community.