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

SurgePays, Inc. (NASDAQ:SURG - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.53 and traded as high as $2.83. SurgePays shares last traded at $2.76, with a volume of 37,351 shares traded.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SURG. Wall Street Zen upgraded shares of SurgePays from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. Ascendiant Capital Markets lifted their target price on shares of SurgePays from $8.75 to $9.00 and gave the stock a "buy" rating in a report on Monday, June 16th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $9.00.

SurgePays Stock Up 0.7%

The stock has a market cap of $56.39 million, a P/E ratio of -1.11 and a beta of 0.43. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 101.87. The firm's fifty day moving average is $2.82 and its 200 day moving average is $2.53.

SurgePays (NASDAQ:SURG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The medical equipment provider reported ($0.36) earnings per share (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 company 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, equities research analysts forecast that SurgePays, Inc. will post -1.66 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SURG. Northern Trust Corp increased its holdings in shares of SurgePays by 67.4% during the 4th quarter. Northern Trust Corp now owns 63,269 shares of the medical equipment provider's stock worth $113,000 after purchasing an additional 25,467 shares during the period. Jane Street Group LLC bought a new position in shares of SurgePays during the 4th quarter worth about $54,000. D.A. Davidson & CO. bought a new position in shares of SurgePays during the 1st quarter worth about $25,000. Baader Bank Aktiengesellschaft bought a new position in shares of SurgePays during the 1st quarter worth about $35,000. Finally, Ethos Financial Group LLC bought a new position in shares of SurgePays during the 1st quarter worth about $57,000. 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.

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