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

Key Points

• SurgePays' stock price has recently surpassed its 200-day moving average, reaching as high as $2.83 before closing at $2.76 on a trading volume of 37,351 shares.
• Analysts have upgraded SurgePays from a "sell" to a "hold" rating, with a consensus price target of $9.00, indicating positive sentiment toward the stock.
• Despite a revenue miss in its latest quarterly earnings, with actual revenue of $11.52 million compared to expectations of $16.14 million, SurgePays is still forecasted to improve earnings per share in the current fiscal year.

SurgePays, Inc. (NASDAQ:SURG - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 changing hands.

Wall Street Analysts Forecast Growth

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

SurgePays Stock Performance

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 50-day moving average is $2.79 and its two-hundred day moving average is $2.56. The stock has a market cap of $60.68 million, a price-to-earnings ratio of -1.19 and a beta of 0.43.

SurgePays (NASDAQ:SURG - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The medical equipment provider reported ($0.36) earnings per share 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 analyst estimates of $16.14 million. SurgePays has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that SurgePays, Inc. will post -1.66 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. D.A. Davidson & CO. purchased a new position in SurgePays in the 1st quarter worth approximately $25,000. Goldman Sachs Group Inc. purchased a new position in SurgePays in the 1st quarter worth approximately $28,000. Baader Bank Aktiengesellschaft purchased a new position in SurgePays in the 1st quarter worth approximately $35,000. Jane Street Group LLC purchased a new position in SurgePays in the 2nd quarter worth approximately $42,000. Finally, Ethos Financial Group LLC purchased a new position in SurgePays in the 1st quarter worth approximately $57,000. Institutional investors and hedge funds 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.