SurgePays (NASDAQ:SURG) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

SurgePays, Inc. (NASDAQ:SURG) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.65 and traded as high as $2.99. SurgePays shares last traded at $2.93, with a volume of 54,928 shares.

Analyst Ratings Changes

SURG has been the subject of several recent research reports. Wall Street Zen raised SurgePays from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Ascendiant Capital Markets raised their target price on shares of SurgePays from $8.75 to $9.00 and gave the stock a “buy” rating in a research note on Monday, June 16th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, SurgePays currently has a consensus rating of “Buy” and an average price target of $9.00.

SurgePays Trading Down 1.0%

The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 101.87. The business has a fifty day simple moving average of $2.76 and a 200 day simple moving average of $2.65. The company has a market cap of $59.86 million, a price-to-earnings ratio of -1.18 and a beta of 0.43.

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

Institutional Investors Weigh In On SurgePays

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. James Investment Research Inc. lifted its position in shares of SurgePays by 46.2% during the 2nd quarter. James Investment Research Inc. now owns 19,000 shares of the medical equipment provider’s stock valued at $59,000 after acquiring an additional 6,000 shares during the period. NewEdge Advisors LLC raised its holdings in SurgePays by 46.2% during the second quarter. NewEdge Advisors LLC now owns 19,000 shares of the medical equipment provider’s stock worth $59,000 after purchasing an additional 6,000 shares during the last quarter. D.A. Davidson & CO. acquired a new position in SurgePays during the first quarter worth $25,000. Jane Street Group LLC acquired a new position in shares of SurgePays during the 2nd quarter worth $42,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of SurgePays during the 1st quarter worth $28,000. 6.94% of the stock is currently owned by institutional investors and hedge funds.

SurgePays Company Profile

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.