SurgePays (NASDAQ:SURG) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

SurgePays, Inc. (NASDAQ:SURG) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.59 and traded as high as $3.10. SurgePays shares last traded at $2.99, with a volume of 284,104 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SURG shares. Ascendiant Capital Markets boosted their price objective on shares of SurgePays from $8.75 to $9.00 and gave the company a “buy” rating in a report on Monday, June 16th. Wall Street Zen upgraded shares of SurgePays from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $9.00.

SurgePays Stock Down 2.0%

The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 101.87. The firm has a market cap of $61.09 million, a PE ratio of -1.20 and a beta of 0.43. The business’s 50-day simple moving average is $2.78 and its 200 day simple moving average is $2.59.

SurgePays (NASDAQ:SURG) last released its quarterly earnings results on Wednesday, August 13th. The medical equipment provider reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.05). The firm had revenue of $11.52 million during the quarter, compared to the consensus estimate of $16.14 million. SurgePays had a negative net margin of 133.85% and a negative return on equity of 333.87%. SurgePays has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that SurgePays, Inc. will post -1.66 earnings per share for the current year.

Hedge Funds Weigh In On SurgePays

Several large investors have recently made changes to their positions in the company. Jane Street Group LLC purchased a new stake in SurgePays in the 4th quarter worth $54,000. Northern Trust Corp lifted its position in SurgePays by 67.4% in the fourth quarter. Northern Trust Corp now owns 63,269 shares of the medical equipment provider’s stock valued at $113,000 after buying an additional 25,467 shares during the last quarter. Ethos Financial Group LLC acquired a new position in SurgePays in the first quarter valued at about $57,000. Baader Bank Aktiengesellschaft acquired a new position in SurgePays in the first quarter valued at about $35,000. Finally, D.A. Davidson & CO. acquired a new stake in shares of SurgePays during the first quarter worth about $25,000. 6.94% of the stock is currently owned by institutional investors and hedge funds.

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.