SurgePays (NASDAQ:SURG) Stock Passes Above Two Hundred Day Moving Average - Here's Why

SurgePays, Inc. (NASDAQ:SURG - Get Free Report) 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

SURG has been the subject of several recent analyst reports. Wall Street Zen raised SurgePays from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Ascendiant Capital Markets raised their price target on SurgePays from $8.50 to $8.75 and gave the company a "buy" rating in a report on Tuesday, April 22nd.

SurgePays Stock Down 1.0%

The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.70 and a current ratio of 6.24. The firm has a market cap of $60.01 million, a price-to-earnings ratio of -2.60 and a beta of 0.51. The firm has a fifty day simple moving average of $2.69 and a 200-day simple moving average of $1.97.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SURG. Geode Capital Management LLC grew its position in SurgePays by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 156,115 shares of the medical equipment provider's stock valued at $278,000 after acquiring an additional 8,097 shares during the last quarter. D.A. Davidson & CO. bought a new stake in shares of SurgePays during the first quarter worth about $25,000. Goldman Sachs Group Inc. bought a new stake in shares of SurgePays during the first quarter worth about $28,000. Renaissance Technologies LLC lifted its stake in shares of SurgePays by 43.6% in the fourth 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 during the period. Finally, Baader Bank Aktiengesellschaft acquired a new position in shares of SurgePays in the first quarter worth approximately $35,000. 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.