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

SurgePays, Inc. (NASDAQ:SURG - Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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.

Analysts Set New Price Targets

SURG has been the topic of a number of recent research reports. Wall Street Zen upgraded SurgePays from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Ascendiant Capital Markets increased their price target on SurgePays from $8.75 to $9.00 and gave the company a "buy" rating in a research note on Monday, June 16th.

SurgePays Stock Performance

The stock has a 50 day moving average price of $2.93 and a two-hundred day moving average price of $2.18. The company has a current ratio of 1.72, a quick ratio of 1.41 and a debt-to-equity ratio of 0.24. The company has a market cap of $64.79 million, a price-to-earnings ratio of -1.14 and a beta of 0.46.

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 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 in the prior year, the business posted $0.07 EPS. Analysts predict that SurgePays, Inc. will post -1.66 EPS for the current year.

Institutional Trading of SurgePays

Several hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in SurgePays by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 156,115 shares of the medical equipment provider's stock worth $278,000 after buying an additional 8,097 shares during the period. D.A. Davidson & CO. acquired a new stake in SurgePays during the 1st quarter worth $25,000. Goldman Sachs Group Inc. acquired a new stake in SurgePays during the 1st quarter worth $28,000. Renaissance Technologies LLC raised its stake in SurgePays by 43.6% during the 4th quarter. Renaissance Technologies LLC now owns 49,400 shares of the medical equipment provider's stock worth $88,000 after buying an additional 15,000 shares during the period. Finally, Baader Bank Aktiengesellschaft acquired a new stake in SurgePays during the 1st quarter worth $35,000. Institutional investors and hedge funds 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.