SurgePays (NASDAQ:SURG) Releases Earnings Results, Misses Expectations By $0.05 EPS

Key Points

• SurgePays reported a quarterly earnings loss of ($0.36) EPS, missing analyst expectations by ($0.05).
• The company has a significantly negative net margin of 136.37% and a negative return on equity of 206.01%.
• Analysts have recently upgraded SurgePays' stock rating from "sell" to "hold" and increased the price target from $8.75 to $9.00.

SurgePays (NASDAQ:SURG - Get Free Report) announced its quarterly earnings results on Wednesday. The medical equipment provider reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.05), Zacks reports. SurgePays had a negative net margin of 136.37% and a negative return on equity of 206.01%. SurgePays updated its FY 2025 guidance to EPS.

SurgePays Price Performance

NASDAQ SURG traded down $0.03 on Wednesday, hitting $2.88. The stock had a trading volume of 256,192 shares, compared to its average volume of 83,140. SurgePays has a 52-week low of $1.05 and a 52-week high of $3.47. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.41 and a current ratio of 1.72. The company has a market capitalization of $58.78 million, a price-to-earnings ratio of -1.03 and a beta of 0.44. The firm has a 50-day moving average of $2.93 and a 200-day moving average of $2.38.

Analysts Set New Price Targets

SURG has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of SurgePays from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Ascendiant Capital Markets upped their price target on shares of SurgePays from $8.75 to $9.00 and gave the company a "buy" rating in a research note on Monday, June 16th.

Institutional Trading of SurgePays

Institutional investors and hedge funds have recently bought and sold shares of the company. Cetera Investment Advisers lifted its stake in SurgePays by 61.0% in the 2nd quarter. Cetera Investment Advisers now owns 45,400 shares of the medical equipment provider's stock worth $141,000 after purchasing an additional 17,200 shares in the last quarter. XTX Topco Ltd purchased a new stake in SurgePays in the 2nd quarter worth approximately $125,000. Jones Financial Companies Lllp lifted its stake in SurgePays by 34,091.3% in the 1st quarter. Jones Financial Companies Lllp now owns 51,287 shares of the medical equipment provider's stock worth $106,000 after purchasing an additional 51,137 shares in the last quarter. Finally, Goldman Sachs Group Inc. purchased a new stake in SurgePays in the 1st quarter worth approximately $28,000. 6.94% of the stock is currently owned by hedge funds and other institutional investors.

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.

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