SurgePays (NASDAQ:SURG) Shares Pass Above Two Hundred Day Moving Average - Should You Sell?

SurgePays, Inc. (NASDAQ:SURG - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.17 and traded as high as $3.45. SurgePays shares last traded at $3.28, with a volume of 47,674 shares trading hands.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SURG. Ascendiant Capital Markets raised their price objective on SurgePays from $8.75 to $9.00 and gave the company 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 note on Thursday, May 22nd.

SurgePays Stock Down 2.8%

The stock has a market capitalization of $64.09 million, a PE ratio of -1.13 and a beta of 0.46. The firm has a 50 day moving average of $2.93 and a two-hundred day moving average of $2.20. The company has a current ratio of 1.72, a quick ratio of 1.41 and a debt-to-equity ratio of 0.24.

SurgePays (NASDAQ:SURG - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The medical equipment provider reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.02. The company had revenue of $10.58 million during the quarter, compared to the consensus estimate of $9.80 million. SurgePays had a negative return on equity of 206.01% and a negative net margin of 136.37%. During the same quarter last year, the business posted $0.07 earnings per share. Equities research analysts anticipate that SurgePays, Inc. will post -1.66 earnings per share for the current year.

Hedge Funds Weigh In On SurgePays

Hedge funds have recently bought and sold shares of the stock. D.A. Davidson & CO. purchased a new position in SurgePays during the first quarter worth $25,000. Goldman Sachs Group Inc. purchased a new position in SurgePays during the first quarter worth $28,000. Baader Bank Aktiengesellschaft purchased a new position in SurgePays during the first quarter worth $35,000. XTX Topco Ltd purchased a new position in SurgePays during the fourth quarter worth $53,000. Finally, Jane Street Group LLC purchased a new position in SurgePays during the fourth quarter worth $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.