SurgePays (NASDAQ:SURG) Stock Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Shares of SurgePays, Inc. (NASDAQ:SURG - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.11 and traded as high as $3.15. SurgePays shares last traded at $3.06, with a volume of 33,560 shares trading hands.

Wall Street Analyst Weigh In

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

SurgePays Stock Performance

The firm has a market capitalization of $64.50 million, a price-to-earnings ratio of -1.13 and a beta of 0.46. The firm has a 50 day moving average price of $2.89 and a 200-day moving average price of $2.11. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.72 and a quick ratio of 1.41.

SurgePays (NASDAQ:SURG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The medical equipment provider reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $10.58 million during the quarter, compared to analysts' expectations of $9.80 million. During the same quarter last year, the business posted $0.07 EPS. As a group, sell-side analysts expect that SurgePays, Inc. will post -1.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SurgePays

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC grew its stake in shares of SurgePays by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 156,115 shares of the medical equipment provider's stock worth $278,000 after purchasing an additional 8,097 shares in the last quarter. D.A. Davidson & CO. purchased a new position in shares of SurgePays in the 1st quarter valued at about $25,000. Goldman Sachs Group Inc. purchased a new position in shares of SurgePays in the 1st quarter valued at about $28,000. Renaissance Technologies LLC raised its position in shares of SurgePays by 43.6% during the 4th 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 purchased a new stake in SurgePays during the first quarter worth approximately $35,000. 6.94% of the stock is currently owned by institutional investors and hedge funds.

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.