SurgePays (NASDAQ:SURG) Stock Rating Lowered by Wall Street Zen

SurgePays (NASDAQ:SURG) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other analysts have also recently issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of SurgePays in a research note on Wednesday, October 8th. Ascendiant Capital Markets boosted their price objective on shares of SurgePays from $9.00 to $9.50 and gave the company a “buy” rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $9.50.

SurgePays Price Performance

SURG opened at $2.41 on Friday. The stock has a market cap of $49.24 million, a P/E ratio of -0.97 and a beta of 0.42. SurgePays has a 12 month low of $1.05 and a 12 month high of $3.47. 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 company has a fifty day simple moving average of $2.78 and a 200 day simple moving average of $2.83.

SurgePays (NASDAQ:SURG) last posted its earnings results on Wednesday, August 13th. The medical equipment provider reported ($0.36) earnings per share (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, research analysts expect that SurgePays will post -1.66 EPS for the current year.

Institutional Trading of SurgePays

Several institutional investors and hedge funds have recently bought and sold shares of the stock. D.A. Davidson & CO. bought a new position in SurgePays in the first quarter valued at approximately $25,000. Goldman Sachs Group Inc. bought a new position in shares of SurgePays in the first quarter valued at $28,000. Baader Bank Aktiengesellschaft bought a new position in shares of SurgePays in the first quarter valued at $35,000. Gerber LLC acquired a new position in SurgePays during the third quarter worth $38,000. Finally, Jane Street Group LLC bought a new stake in SurgePays during the second quarter worth $42,000. Institutional investors own 6.94% of the company’s stock.

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.