SurgePays (NASDAQ:SURG) Share Price Passes Above 200-Day Moving Average - What's Next?

Shares of SurgePays, Inc. (NASDAQ:SURG - Get Free Report) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.27 and traded as high as $3.05. SurgePays shares last traded at $2.94, with a volume of 22,889 shares.

Wall Street Analyst Weigh In

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

SurgePays Stock Performance

The company has a market capitalization of $60.01 million, a PE ratio of -1.05 and a beta of 0.46. The business's 50-day moving average is $2.98 and its 200-day moving average is $2.27. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.41 and a current ratio of 1.72.

SurgePays (NASDAQ:SURG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The medical equipment provider reported ($0.38) earnings per share (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 analysts' expectations of $9.80 million. During the same period last year, the company posted $0.07 EPS. On average, research analysts anticipate that SurgePays, Inc. will post -1.66 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SURG. Geode Capital Management LLC raised its position in shares of SurgePays by 5.5% in the 4th 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 during the last quarter. Northern Trust Corp raised its position in shares of SurgePays by 67.4% in the 4th quarter. Northern Trust Corp now owns 63,269 shares of the medical equipment provider's stock worth $113,000 after purchasing an additional 25,467 shares during the last quarter. Jones Financial Companies Lllp raised its position 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 worth $106,000 after purchasing an additional 51,137 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of SurgePays by 43.6% in the 4th quarter. Renaissance Technologies LLC now owns 49,400 shares of the medical equipment provider's stock worth $88,000 after purchasing an additional 15,000 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of SurgePays in the 4th quarter worth about $54,000. 6.94% of the stock is 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.

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