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

SurgePays, Inc. (NASDAQ:SURG - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.94 and traded as high as $3.07. SurgePays shares last traded at $2.90, with a volume of 118,154 shares changing hands.

Analyst Ratings Changes

A number of research analysts recently commented on SURG shares. Ascendiant Capital Markets upped their price objective on SurgePays from $8.50 to $8.75 and gave the company a "buy" rating in a report on Tuesday, April 22nd. Wall Street Zen upgraded SurgePays from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd.

SurgePays Stock Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 6.24 and a quick ratio of 4.70. The company has a market capitalization of $57.77 million, a price-to-earnings ratio of -2.50 and a beta of 0.51. The stock has a 50 day simple moving average of $2.67 and a two-hundred day simple moving average of $1.95.

SurgePays (NASDAQ:SURG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The medical equipment provider reported ($0.38) earnings per share for the quarter, beating analysts' consensus estimates of ($0.40) by $0.02. The company had revenue of $10.58 million for the quarter, compared to analysts' expectations of $9.80 million. SurgePays had a negative return on equity of 55.63% and a negative net margin of 27.39%. During the same period last year, the firm earned $0.07 earnings per share. As a group, analysts anticipate that SurgePays, Inc. will post -1.66 earnings per share for the current year.

Hedge Funds Weigh In On SurgePays

Several hedge funds have recently made changes to their positions in SURG. D.A. Davidson & CO. purchased a new position in shares of SurgePays during the first quarter worth about $25,000. Goldman Sachs Group Inc. acquired a new stake in shares of SurgePays during the 1st quarter valued at approximately $28,000. Baader Bank Aktiengesellschaft acquired a new stake in shares of SurgePays during the 1st quarter valued at approximately $35,000. XTX Topco Ltd acquired a new position in shares of SurgePays during the 4th quarter worth approximately $53,000. Finally, Jane Street Group LLC acquired a new position in shares of SurgePays during the 4th quarter worth approximately $54,000. Hedge funds and other institutional investors 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.