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

Key Points

• SurgePays' stock price crossed above its 200-day moving average of $2.79, trading as high as $3.14 before closing at $2.73.
• Analysts have mixed ratings for SurgePays, with one upgrade to "hold" from Wall Street Zen and a reaffirmed "sell" from Weiss Ratings, while Ascendiant Capital raised its price target to $9.50.
• The company reported a loss of ($0.36) EPS in its latest quarterly results, missing estimates, and anticipates a negative earnings per share of -1.66 for the current fiscal year.

Shares of SurgePays, Inc. (NASDAQ:SURG - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.79 and traded as high as $3.14. SurgePays shares last traded at $2.73, with a volume of 604,284 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Wall Street Zen upgraded SurgePays from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of SurgePays in a research report on Wednesday, October 8th. Finally, Ascendiant Capital Markets boosted their price objective on SurgePays from $9.00 to $9.50 and gave the company a "buy" rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, SurgePays has an average rating of "Hold" and a consensus price target of $9.50.

SurgePays Stock Down 1.4%

The company has a market cap of $55.77 million, a PE ratio of -1.10 and a beta of 0.43. The company has a fifty day moving average of $2.72 and a two-hundred day moving average of $2.79. The company has a debt-to-equity ratio of 101.87, a quick ratio of 0.84 and a current ratio of 1.11.

SurgePays (NASDAQ:SURG - Get Free Report) last issued its quarterly earnings results 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 net margin of 133.85% and a negative return on equity of 333.87%. The firm had revenue of $11.52 million for the quarter, compared to the consensus estimate 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 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SurgePays

A number of institutional investors and hedge funds have recently modified their holdings of the business. D.A. Davidson & CO. bought a new position in SurgePays in the 1st quarter valued at $25,000. Goldman Sachs Group Inc. purchased a new stake in shares of SurgePays during the first quarter valued at $28,000. Baader Bank Aktiengesellschaft bought a new position in shares of SurgePays in the first quarter worth about $35,000. Jane Street Group LLC purchased a new position in SurgePays in the 2nd quarter worth about $42,000. Finally, Ethos Financial Group LLC bought a new stake in SurgePays during the 1st quarter valued at about $57,000. 6.94% of the stock is owned by institutional investors.

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.

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