SurgePays (NASDAQ:SURG) Shares Pass Above 200 Day Moving Average - What's Next?

Key Points

• SurgePays shares crossed above their 200-day moving average during trading, reaching a high of $2.90 before closing at $2.83.
• Analyst ratings for SurgePays show a mix of opinions, with one firm upgrading the stock to "hold" while another maintained a "sell (e+)" rating; the consensus rating is currently "Hold" with a target price of $9.50.
• In their latest quarterly report, SurgePays reported a loss of ($0.36) EPS, missing estimates and citing revenue of $11.52 million, which was below analysts' expectations.

SurgePays, Inc. (NASDAQ:SURG - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.76 and traded as high as $2.90. SurgePays shares last traded at $2.83, with a volume of 97,817 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Wall Street Zen raised SurgePays from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of SurgePays in a report on Wednesday. Finally, Ascendiant Capital Markets lifted their target price on SurgePays from $9.00 to $9.50 and gave the company a "buy" rating in a report on Friday, October 3rd. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $9.50.

SurgePays Stock Up 0.4%

The company has a debt-to-equity ratio of 101.87, a current ratio of 1.11 and a quick ratio of 0.84. The company has a market cap of $57.82 million, a PE ratio of -1.14 and a beta of 0.43. The company has a fifty day moving average price of $2.74 and a 200 day moving average price of $2.76.

SurgePays (NASDAQ:SURG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The medical equipment provider reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.05). SurgePays had a negative return on equity of 333.87% and a negative net margin of 133.85%.The business had revenue of $11.52 million for the quarter, compared to analysts' expectations of $16.14 million. SurgePays has set its FY 2025 guidance at EPS. As a group, analysts anticipate that SurgePays, Inc. will post -1.66 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SURG. Jones Financial Companies Lllp grew its holdings in shares of SurgePays by 34,091.3% during the first 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 in the last quarter. XTX Topco Ltd bought a new stake in SurgePays in the 2nd quarter worth approximately $125,000. Ethos Financial Group LLC bought a new stake in SurgePays in the 1st quarter worth approximately $57,000. Cetera Investment Advisers lifted its position in SurgePays by 61.0% in the 2nd quarter. Cetera Investment Advisers now owns 45,400 shares of the medical equipment provider's stock worth $141,000 after buying an additional 17,200 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft bought a new stake in SurgePays in the 1st quarter worth approximately $35,000. Hedge funds and other institutional investors own 6.94% of the company's stock.

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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