SurgePays (NASDAQ:SURG) Share Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• SurgePays' stock price surpassed its 200-day moving average of $2.44, reaching a high of $2.50 before closing at $2.49 with a trading volume of 72,049 shares.
• Analysts have mixed opinions on SurgePays, with Wall Street Zen downgrading the stock from "hold" to "sell", while Ascendiant Capital Markets upgraded the price target from $8.75 to $9.00, maintaining a "buy" rating.
• SurgePays reported a net loss with earnings per share of ($0.36), falling short of analysts' expectations of ($0.31), along with lower revenue of $11.52 million against the forecast of $16.14 million.

SurgePays, Inc. (NASDAQ:SURG - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.44 and traded as high as $2.50. SurgePays shares last traded at $2.49, with a volume of 72,049 shares changing hands.

Analyst Ratings Changes

SURG has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of SurgePays from a "sell" rating to a "hold" rating in a research note on Saturday. Ascendiant Capital Markets lifted their price objective 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. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $9.00.

SurgePays Price Performance

The company has a debt-to-equity ratio of 101.87, a current ratio of 1.11 and a quick ratio of 0.84. The firm has a market cap of $55.16 million, a price-to-earnings ratio of -1.08 and a beta of 0.43. The business's 50-day moving average price is $2.85 and its two-hundred day moving average price is $2.47.

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

Institutional Trading of SurgePays

Hedge funds have recently made changes to their positions in the stock. D.A. Davidson & CO. acquired a new stake in shares of SurgePays during the first quarter worth approximately $25,000. Goldman Sachs Group Inc. acquired a new position in SurgePays in the first quarter worth $28,000. Baader Bank Aktiengesellschaft acquired a new position in SurgePays in the first quarter worth $35,000. Jane Street Group LLC acquired a new position in SurgePays in the second quarter worth $42,000. Finally, Ethos Financial Group LLC acquired a new position in SurgePays in the first quarter worth $57,000. 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.