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

SurgePays (NASDAQ:SURG - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Thursday.

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

SurgePays Stock Up 1.2%

Shares of SURG traded up $0.04 on Thursday, hitting $3.08. The company's stock had a trading volume of 17,763 shares, compared to its average volume of 640,642. The firm's fifty day moving average price is $2.42 and its 200-day moving average price is $1.88. SurgePays has a fifty-two week low of $1.05 and a fifty-two week high of $4.38. The company has a quick ratio of 4.70, a current ratio of 6.24 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $62.77 million, a price-to-earnings ratio of -2.72 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 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 company had revenue of $10.58 million during the quarter, compared to analysts' expectations of $9.80 million. During the same quarter in the prior year, the company earned $0.07 earnings per share. On average, equities research analysts expect that SurgePays will post -1.66 EPS for the current year.

Hedge Funds Weigh In On SurgePays

Hedge funds have recently made changes to their positions in the business. D.A. Davidson & CO. acquired a new position in SurgePays during the first quarter worth $25,000. Goldman Sachs Group Inc. acquired a new position in shares of SurgePays during the 1st quarter worth about $28,000. Baader Bank Aktiengesellschaft bought a new position in shares of SurgePays in the 1st quarter valued at about $35,000. XTX Topco Ltd acquired a new stake in shares of SurgePays in the fourth quarter valued at about $53,000. Finally, Jane Street Group LLC bought a new stake in SurgePays during the fourth quarter worth about $54,000. 6.94% of the stock is owned by institutional investors.

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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