SurgePays, Inc. (NASDAQ:SURG - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.84 and traded as high as $2.74. SurgePays shares last traded at $2.64, with a volume of 248,803 shares changing hands.
Wall Street Analysts Forecast Growth
Separately, Ascendiant Capital Markets boosted their target price on shares of SurgePays from $8.50 to $8.75 and gave the company a "buy" rating in a research note on Tuesday, April 22nd.
View Our Latest Report on SURG
SurgePays Price Performance
The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.70 and a current ratio of 6.24. The company's 50 day moving average price is $2.39 and its 200 day moving average price is $1.87. The company has a market cap of $65.42 million, a price-to-earnings ratio of -2.87 and a beta of 0.51.
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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.40) by $0.02. SurgePays had a negative return on equity of 55.63% and a negative net margin of 27.39%. The business had revenue of $10.58 million during the quarter, compared to analysts' expectations of $9.80 million. During the same period in the previous year, the business posted $0.07 earnings per share. On average, equities research analysts predict that SurgePays, Inc. will post -1.66 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. bought a new position in shares of SurgePays in the first quarter valued at about $28,000. Jones Financial Companies Lllp lifted its position in SurgePays by 34,091.3% during the 1st quarter. Jones Financial Companies Lllp now owns 51,287 shares of the medical equipment provider's stock valued at $106,000 after purchasing an additional 51,137 shares during the period. Ethos Financial Group LLC acquired a new position in SurgePays during the 1st quarter valued at about $57,000. Baader Bank Aktiengesellschaft acquired a new position in SurgePays during the 1st quarter valued at about $35,000. Finally, D.A. Davidson & CO. acquired a new position in SurgePays during the 1st quarter valued at about $25,000. 6.94% of the stock is owned by institutional investors.
SurgePays Company Profile
(
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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.
Further Reading
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