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

SurgePays, Inc. (NASDAQ:SURG - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 changing hands.

Analysts Set New Price Targets

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

SurgePays Price Performance

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 business's 50-day simple moving average is $2.86 and its two-hundred day simple moving average is $2.08. The firm has a market cap of $64.90 million, a price-to-earnings ratio of -1.14 and a beta of 0.43.

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

Institutional Investors Weigh In On SurgePays

Several large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in SurgePays by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 156,115 shares of the medical equipment provider's stock valued at $278,000 after buying an additional 8,097 shares during the period. D.A. Davidson & CO. bought a new stake in shares of SurgePays in the 1st quarter valued at $25,000. Goldman Sachs Group Inc. acquired a new position in shares of SurgePays during the 1st quarter valued at $28,000. Renaissance Technologies LLC boosted its stake in SurgePays by 43.6% during the fourth quarter. Renaissance Technologies LLC now owns 49,400 shares of the medical equipment provider's stock worth $88,000 after acquiring an additional 15,000 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft bought a new position in SurgePays during the first quarter worth $35,000. 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.