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

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on SURG. Ascendiant Capital Markets boosted their price objective on shares of SurgePays from $8.75 to $9.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Wall Street Zen upgraded shares of SurgePays from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd.

SurgePays Trading Up 2.1%

The stock has a market capitalization of $65.82 million, a P/E ratio of -1.16 and a beta of 0.46. 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 stock's fifty day moving average price is $2.90 and its two-hundred day moving average price is $2.14.

SurgePays (NASDAQ:SURG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The medical equipment provider reported ($0.38) EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $9.80 million. During the same period in the prior year, the business posted $0.07 EPS. Equities research analysts forecast that SurgePays, Inc. will post -1.66 EPS for the current year.

Hedge Funds Weigh In On SurgePays

Several large investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings 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 valued at $278,000 after purchasing an additional 8,097 shares during the last quarter. D.A. Davidson & CO. purchased a new stake in SurgePays during the 1st quarter valued at about $25,000. Goldman Sachs Group Inc. purchased a new stake in SurgePays during the 1st quarter valued at about $28,000. Renaissance Technologies LLC grew its position in SurgePays by 43.6% during the 4th quarter. Renaissance Technologies LLC now owns 49,400 shares of the medical equipment provider's stock valued at $88,000 after purchasing an additional 15,000 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft purchased a new stake in SurgePays during the 1st quarter valued at about $35,000. 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.