30,059 Shares in SurgePays, Inc. (NASDAQ:SURG) Purchased by Jane Street Group LLC

Jane Street Group LLC acquired a new stake in shares of SurgePays, Inc. (NASDAQ:SURG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 30,059 shares of the medical equipment provider’s stock, valued at approximately $54,000. Jane Street Group LLC owned approximately 0.15% of SurgePays as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. XTX Topco Ltd bought a new stake in shares of SurgePays in the 4th quarter valued at approximately $53,000. Renaissance Technologies LLC boosted its holdings in SurgePays by 43.6% in the fourth quarter. Renaissance Technologies LLC now owns 49,400 shares of the medical equipment provider’s stock worth $88,000 after purchasing an additional 15,000 shares during the period. Northern Trust Corp increased its stake in SurgePays by 67.4% during the fourth quarter. Northern Trust Corp now owns 63,269 shares of the medical equipment provider’s stock valued at $113,000 after purchasing an additional 25,467 shares during the last quarter. Truvestments Capital LLC raised its holdings in shares of SurgePays by 20.1% during the fourth quarter. Truvestments Capital LLC now owns 102,002 shares of the medical equipment provider’s stock worth $182,000 after purchasing an additional 17,056 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of SurgePays by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 156,115 shares of the medical equipment provider’s stock worth $278,000 after buying an additional 8,097 shares during the last quarter. Institutional investors own 6.94% of the company’s stock.

SurgePays Price Performance

Shares of NASDAQ SURG opened at $2.81 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.24 and a quick ratio of 4.70. The firm has a market capitalization of $57.36 million, a PE ratio of -2.49 and a beta of 0.43. SurgePays, Inc. has a 1-year low of $1.05 and a 1-year high of $4.34. The business’s fifty day moving average price is $2.74 and its two-hundred day moving average price is $2.00.

SurgePays (NASDAQ:SURG) last released its quarterly earnings results on Tuesday, May 13th. The medical equipment provider reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.02. The business had revenue of $10.58 million during the quarter, compared to analyst estimates of $9.80 million. SurgePays had a negative net margin of 27.39% and a negative return on equity of 55.63%. During the same quarter in the prior year, the firm earned $0.07 earnings per share. On average, research analysts expect that SurgePays, Inc. will post -1.66 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SURG. Wall Street Zen raised shares of SurgePays from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Ascendiant Capital Markets upped their target price on SurgePays from $8.50 to $8.75 and gave the company a “buy” rating in a report on Tuesday, April 22nd.

About SurgePays

SurgePays, Inc, together with its subsidiaries, operates as a financial technology and telecom company in the United States. It operates through three segments: Mobile Virtual Network Operators, Comprehensive Platform Services, and Lead Generation. The company offers subsidized and non-subsidized mobile virtual network operators for internet connectivity through mobile broadband services to consumers; ACH banking relationships and fintech transactions platform to convenience stores; wireless top-up transactions and wireless product aggregation; and lead generation and case management solutions primarily to law firms in the mass tort industry, as well as call center activities.