SurgePays (NASDAQ:SURG) Upgraded to Hold at Wall Street Zen

SurgePays (NASDAQ:SURG - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Thursday.

Separately, Ascendiant Capital Markets increased their target price on SurgePays from $8.50 to $8.75 and gave the company a "buy" rating in a research note on Tuesday, April 22nd.

SurgePays Stock Up 1.1%

Shares of SURG stock traded up $0.04 on Thursday, reaching $3.10. 42,009 shares of the company were exchanged, compared to its average volume of 642,135. The company has a market cap of $63.18 million, a price-to-earnings ratio of -2.74 and a beta of 0.51. The company has a 50-day moving average of $2.53 and a 200-day moving average of $1.92. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.24 and a quick ratio of 4.70. SurgePays has a one year low of $1.05 and a one year high of $4.38.

SurgePays (NASDAQ:SURG - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The medical equipment provider reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.02. SurgePays had a negative net margin of 27.39% and a negative return on equity of 55.63%. The firm had revenue of $10.58 million during the quarter, compared to analyst estimates of $9.80 million. During the same quarter last year, the business posted $0.07 EPS. Analysts anticipate that SurgePays will post -1.66 earnings per share for the current year.

Institutional Investors Weigh In On SurgePays

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of 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 acquiring an additional 8,097 shares during the last quarter. Truvestments Capital LLC increased its holdings in SurgePays by 20.1% in the 4th quarter. Truvestments Capital LLC now owns 102,002 shares of the medical equipment provider's stock valued at $182,000 after acquiring an additional 17,056 shares during the last quarter. Northern Trust Corp increased its holdings in SurgePays by 67.4% in the 4th quarter. Northern Trust Corp now owns 63,269 shares of the medical equipment provider's stock valued at $113,000 after acquiring an additional 25,467 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of SurgePays by 34,091.3% in the 1st quarter. Jones Financial Companies Lllp now owns 51,287 shares of the medical equipment provider's stock worth $106,000 after buying an additional 51,137 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of SurgePays by 43.6% in 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 last quarter. Institutional investors 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.