SurgePays (NASDAQ:SURG) Shares Cross Above 200 Day Moving Average - Time to Sell?

SurgePays, Inc. (NASDAQ:SURG - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.06 and traded as high as $2.83. SurgePays shares last traded at $2.73, with a volume of 46,353 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SURG. Wall Street Zen raised SurgePays from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Ascendiant Capital Markets lifted their price target on SurgePays from $8.75 to $9.00 and gave the company a "buy" rating in a report on Monday, June 16th.

SurgePays Price Performance

The company has a market capitalization of $63.28 million, a price-to-earnings ratio of -1.10 and a beta of 0.43. The company has a current ratio of 1.72, a quick ratio of 1.41 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average price of $2.84 and a 200 day moving average price of $2.07.

SurgePays (NASDAQ:SURG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The medical equipment provider reported ($0.38) EPS for the quarter, topping analysts' consensus estimates of ($0.40) by $0.02. SurgePays had a negative return on equity of 206.01% and a negative net margin of 136.37%. The firm had revenue of $10.58 million during the quarter, compared to analyst estimates of $9.80 million. During the same period last year, the company earned $0.07 earnings per share. As a group, equities research analysts forecast that SurgePays, Inc. will post -1.66 earnings per share for the current year.

Hedge Funds Weigh In On SurgePays

Hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. bought a new stake in shares of SurgePays in the 1st quarter valued at about $28,000. Jones Financial Companies Lllp grew its holdings in shares of 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 valued at $106,000 after buying an additional 51,137 shares during the period. Ethos Financial Group LLC bought a new stake in shares of SurgePays in the 1st quarter valued at $57,000. Baader Bank Aktiengesellschaft bought a new stake in shares of SurgePays in the 1st quarter valued at $35,000. Finally, D.A. Davidson & CO. acquired a new stake in SurgePays during the 1st quarter worth $25,000. Institutional investors and hedge funds 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.